DuPage County Property Division Attorneys
Skilled Oak Brook Divorce Attorneys Handling Complex Property Division Issues
During marriage, couples may amass a considerable amount of property. Without a marital agreement in place, questions of ownership may surface during a divorce. Farooqi & Husain Law Office is a family law firm with proven experience in high net worth divorce and intricate property division matters. We examine every detail in order to provide a complete asset picture and seek an equitable resolution.
Our DuPage County divorce lawyers are skilled investigators and work with other financial professionals to properly evaluate marital and non-marital assets. We also have the resources to uncover hidden assets and employ solid strategies to minimize tax obligations and unnecessary fees.
Providing Wise Counsel in Property Division Matters
The emotional aspect of divorce can shake the foundation of the most collected individual. We believe in helping our clients make wise decisions. At times, stress may make a person want to turn over assets or agree to terms that are not in their best interest just to move beyond the divorce proceedings. We will help you think through each issue and carefully craft a response that works best for your unique situation.
Our caring, respected divorce attorneys are committed to protecting your interests and using sound legal practices. We will not relent in our resolve to fight for you, and we will handle all dealings with understanding and respect for all parties. Some of the actions we take while working through property division include:
- Employing forensic accountants and investigators to verify all assets;
- Issuing subpoenas to any applicable party suspected of hiding assets;
- Providing accurate business valuation and real estate assessments and appraisals;
- Examining existing marital agreements, marital and non-marital property; and
- Reviewing all trusts, estate plans, retirement funds, and life insurance benefits.
These are just a few of the concerns you may have when dividing property in a divorce. At Farooqi & Husain Law Office, we believe in preparing our clients for the journey ahead. Knowing what to expect puts our team in a proactive stance. Although many aspects of property division are standard, we also take care to prepare for the unexpected. Our comprehensive approach to family law gives our clients the peace they need and continues to deliver the results they enjoy.
Tax Considerations and Equitable Distribution in Illinois
Illinois is an equitable distribution state. Rather than a 50/50 division of property, division is based on what is fair. The Illinois Marriage and Dissolution of Marriage Act (IMDMA) provides guidelines for property division. Factors such as income, earning potential, perceived need, and standard of living all come into play. Receiving property should never put a person at a disadvantage. Conversely, losing property should not cause financial hardship.
Loss of income, tax consequences and the ability to maintain the property are all important issues to explore. Our DuPage property division attorneys are skilled negotiators who will work diligently to provide avenues for tax savings. Talk to us about your vision for the future and we will help you get there, step by step.
Reputable Property Division Lawyers
If you are facing a divorce and have questions about property division, please contact our firm today. You may call 630-909-9114 to set up an initial appointment. We look forward to serving you. We help clients throughout DuPage County, Cook County, and throughout Northern Illinois.