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High-Asset Divorce Archives

Identity theft and high-asset divorce

If you are preparing for the end of your marriage or trying to move forward after a high-asset divorce, you may be facing various challenges. We have covered many of these issues on our blog, such as property division and those involving children (custody, child support, etc.). However, there are additional concerns that may be raised during the process of divorce or some point down the road, which can be especially difficult for those who have significant assets. For example, identity theft can be a serious concern for some people and has created many problems for those who have been through a bitter divorce.

Seasonal affective disorder and divorce

Many different experiences and conditions can make it harder for people to split up with their spouse, whether they are concerned about the financial effects of ending their marriage, are struggling with a health condition, or do not believe that it is an appropriate time to divorce. However, those who suffer from seasonal affective disorder may experience additional hardships related to their divorce. For example, they may push off divorce because they feel as if they do not have the energy to work through the process or they might experience depression afterward.

Discussing divorce with family members

Those going through a high asset divorce frequently encounter certain difficulties, from concerns about how marital property will be divided to issues involving child support and custody. However, some people may also struggle with talking to their other family members about their decision to end their marriage or a divorce they have found themselves in the middle of. With the holiday season approaching, many families will come together for celebrations and it is especially important for those who are preparing to end their marriage to be ready.

Social media and high-asset divorce

In a recent blog post, we examined some of the issues that high-profile couples may experience when they decide to end their marriage. In the information age, there is another area of concern relevant to high-profile divorces and those who want to split up with their spouse when they have a high net worth: social media. Our firm knows the many ways that social media can affect those who are working through the divorce process, whether they post something they regret or are upset about information their spouse is sharing.

High-profile couples and divorce

Making the decision to call off a marriage can be challenging for all types of couples. However, there are certain circumstances in which it can be especially tricky. For example, high-profile couples may have additional hurdles to work through, including the added stress and attention that is often associated with a divorce that is highly publicized. Our law firm understands the hurdles that high-profile couples in Peoria and other parts of Illinois may face and we believe that it is crucial for people who are in this position to carefully work through the end of marriage.

QDROs and the equitable division of retirement accounts

People in Illinois who are lucky enough to have a healthy retirement benefits package through their employer may not have thought about the rules and regulations governing the plan. Once divorce is on the horizon, though, it is essential to understand how property division may affect the account. According to The Motley Fool, the taxes and penalties could significantly reduce the value if the right steps are not taken.

Preventing divorce from ruining a successful business

A divorce can affect a lot of different factors in a person’s life including finances, family ties, personal well-being and even that person’s career or profession. For Illinois couples who are involved in business together but have chosen to divorce, they will undoubtedly have to make some serious decisions regarding the organization’s future and success.

Managing your emotions during divorce

For many people, splitting up with a spouse may be one of the most difficult experiences of their life. After all, divorce can bring major life changes, such as relocation and affecting relationship with children. At Butler, Giraudo & Meister, we also know how divorce can affect couples financially (property distribution, child support, etc.). If you are already going through the divorce process or are just thinking about filing for divorce, it is very important to manage your emotions well.

What can a forensic accountant do for you?

The end of your marriage in Illinois is more than the end of a relationship; it is the end of your contract with your spouse. Before it can be dissolved, the two of you will have to come up with a new agreement that you can both live with, but if your marital assets are extensive, this can get tricky. According to Forbes magazine, your best step toward a solution may be to hire a forensic accountant.

A couple of things to consider about high-asset divorces

Couples who are in the midst of high-asset divorces in Illinois may be making mistakes and should take some time to consider their strategies. Their mistakes can impact their finances, especially if they do not have any prenuptial agreements in place to protect their assets.

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Morton, IL 61550

Toll Free: 888-314-9667
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