Divorce is complicated enough, but a couple with a high net worth may run into even more issues during the dissolution of a marriage. Dividing up shared property and wealth in a high-asset divorce can be extremely complex, requiring a thorough appraisal of all marital property. If you are going through a high-asset divorce, an attorney can represent you inside and outside of court, making sure that your financial interests are protected. In cases of high-asset divorce, the experienced DuPage County family law attorney at Fawell & Fawell is prepared to give you his full attention to help ensure a clean separation.
Shared Businesses
A shared business in a marriage can be profitable. However, the turmoil of a high-asset divorce can threaten to interrupt regular operations, especially when dealing with problems of ownership. If you started a business prior to a marriage, it may be considered a non-marital asset and therefore not subject to division. However, if your spouse contributed to the business during the marriage, the courts may consider any gain to the value of the business to be a marital asset. As such, you will have to reach an equitable compromise with your spouse, whether that means buying out his or her interests, selling the business itself, or continuing to maintain joint ownership.