You know that everything has to be divided up in a divorce, and that is easy to do when it comes to some assets. If you have a joint bank account, for example, splitting that in half is generally not going to be too much trouble. What about when you get into other assets though, like investments and stocks? They need to be split up as well, and a Tazewell County high net worth divorce lawyer from our firm will do their best to ensure that you get everything that you are entitled to.
Are Investments and Stocks Subject to Equitable Distribution?
Illinois is an equitable distribution state, which means that the division of property is done in a way that is fair even if it is not necessarily equal. A judge can look at a variety of factors to determine which spouse gets which property or how a marital property gets split up.
If all other factors seem equal, investments and stocks can get split right down the middle. You have 100 shares of company X, so you and your spouse each get to keep 50 shares. The court will look at the current situation of each spouse and evaluate their future needs though, so sometimes more or less property can be awarded to one spouse. A lawyer might be able to help you argue for a larger share of certain assets, including investments and stocks.
When Are Investments and Stocks Marital Property?
Investments and stocks are just like many other types of property. They can be considered marital property or separate property. Separate property is something that you brought into the marriage with you. If you had certain investments and stocks before you were married, you should be able to keep them afterward in most cases.
Your investments and stocks could also be considered marital property though. If you and your spouse made any investments together, you are probably going to have to split any shares you bought and the money that you made. In the eyes of the court, this is a fair arrangement.
Will I Need a Divorce Lawyer?
In most cases, it is a good idea to have a lawyer when you are getting a divorce. This is especially true if there are many different assets that need to be distributed. You want to have a lawyer who can help you protect your assets, including investments and stocks.
Even if you are able to work things out with your spouse through mediation, having an attorney can be helpful. If you do end up going through litigation to settle everything, then you will definitely want a lawyer.
Schedule Your Consultation
If you are going through a divorce and want to be sure that your assets are protected, you need experienced legal representation on your side. Contact Butler, Giraudo & Meister, P.C. and schedule a consultation today. We would be happy to tell you more about how we can assist you.
