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Tips for Protecting Assets in High Net-Worth Divorce

As an American with a high-net worth, divorce can seem like a daunting task. You not only face the emotional stress of going through a divorce but also the worries about what state your finances and business might be in after finalizing the divorce. For this reason, we at Wakenight & Associates recommend working with a skilled Illinois divorce attorney who can help ensure your divorce won’t cripple your finances. Keep reading for tips on how to protect your asset from your spouse during your divorce.

Work with an Attorney to Help You Determine Separate and Community Property

If you have a high-net-worth, you might be worried about the how your assets will be divided between you and your spouse. It can be difficult to determine if your robust financial portfolio, various properties or jewelry will be listed as yours alone or something that was purchased during the marriage. Our legal team can help you distinguish between community property and separate property. Create solutions for removing the spouse from your business

Stop Depositing Money into Joint Accounts

If you deposit money into a joint account, that money in that account could be half your spouse’s at the end of the marriage. If you both deposit money into a joint account, things can start to become confusing. Start keeping your finances separate this way there is a clear distinction regarding who owns what in your marriage.

Often high net worth divorces can be extremely complex. They not only require the help of a skilled Illinois divorce lawyer, but the help of forensic accountants and business advisors. If you and your spouse are considering divorce, protecting yourself during this time is crucial to keeping your financial status relatively the same or maintaining your business. Our attorneys have various negotiation and settlement strategies to help ensure you keep your net-worth.

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Illinois Divorce Attorneys

Wakenight & Associates, P.C.: For Singularly Focused Representation

What Our Clients Have To Say

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  • Colleen Hurley was an asset through my divorce.

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the Counsel You Deserve

Litigation can be complex and even the most amicable of negotiations can go awry. No matter what your case involves, the stakes can be high. If you are dealing with any type of family law issue, then your choice in representation will matter. The team at Wakenight & Associates, P.C. informs you of your options, keeps you involved in the process, and helps you understand your rights. Working with our firm means you will be in the best possible position to make sound, logical decisions that will have a positive impact on your family, your finances, and your future.

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