Asset Protection Means Protecting Your Interests In The Strategic Division Of Property During Divorce
After years of acquiring wealth together, dividing your property may be one of the most complex and controversial aspects of your divorce. Even if you are on amicable terms with your spouse, you may disagree sharply on the value of certain assets or whether they should be classified as marital property. If you are not on good terms, it will be that much harder and it will be that much more important to have a proven lawyer in your corner.
Sometimes collateral issues such as hidden assets, marital waste or restraining orders must be pursued to prevent assets from being misappropriated or dissipated and to reach a fair settlement. Protecting your fair share requires an attorney who can anticipate such issues and assume all the roles – advisor, evaluator, negotiator and litigator.
The Chicago divorce lawyers of The Law Offices of Jeffery M. Leving, Ltd., have a nationwide reputation for engineering favorable outcomes in complex property division. We are often hired after other law firms have failed to get results, intervening to prevent an unfair judgment or lopsided settlement. Our savvy and aggressive advocacy will position you to protect your rightful share and your priority assets, in or out of court.
“Are there tangible assets that you know your spouse wants and that you would be willing to use as ‘barter’ to achieve other divorce goals?”
— Jeffery M. Leving, in Divorce Wars
Fair And Comprehensive Resolution Of Marital Asset Division
As Chicago’s premier family law firm, we bring sophisticated legal, investigative and accounting resources to the equitable distribution of your marital estate and all facets of divorce. Our thorough methods and our reputation often enable clients to avoid litigation and reach fair and practical out-of-court-settlements. However, when litigation is necessary or advantageous, our skilled litigators offer sound strategies and compelling arguments to win in court. We have successfully litigated difficult and high-profile divorces, not only in Cook County and statewide Illinois, but throughout the U.S.
Our legal team can knowledgeably anticipate and address the relevant facts that will influence your marital property division, including:
- Exclusive possession of the marital residence
- Pensions and retirement accounts
- Stocks and investments, and stock options
- Businesses or professional practices
- Vehicles, jewelry and valuables
- Real estate acquisition and contribution
- Marital debts
- Dissipation of marital assets
- Hidden accounts, asset transfers, undisclosed income
- Alimony (when applicable)
- Marital agreements (prenuptial/postnuptial)
How Is Marital Property Divided In Illinois?
Every asset of a married couple’s estate is characterized as either marital or nonmarital. In overly simplified terms, marital property is wealth acquired during marriage and nonmarital property refers to assets owned by one spouse prior to marriage. However, there are many exceptions and legal nuances. An inheritance or gift received during marriage can be classified by the court as nonmarital property, or nonmarital assets can become “commingled” with marital property. Our attorneys work with highly qualified professionals in the discovery process to identify nonmarital property, determine accurate valuation of complex assets and uncover concealed assets or income.
Illinois law requires an equitable (but not equal) distribution of assets. In contested proceedings, a court must consider numerous factors, including each spouse’s contributions to marital property, their respective incomes and individual assets, total value of marital property, length of the marriage, alimony obligations, custody arrangements and tax consequences.
Experienced Advocacy In High-Asset Divorce
Jeffery M. Leving is a nationally renowned family law attorney who has litigated countless divorces in 30-plus years of practice. He leads a team of highly skilled lawyers who possesses the experience and resources to protect your property rights in or out of court.