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IL divorce lawyerHigh asset divorces, or high net worth divorces, in DuPage County often come with their own complications and issues that make them distinct from more traditional or straightforward divorce cases. Whether you are currently in a marriage in which one of the spouses was the primary earner, or both spouses together have been high earners during the marriage, it is critical to learn more about the particularities of high net worth divorces in Oakbrook Terrace and throughout DuPage County.

At Farooqi & Husain Law Office, we know how important it is to have an experienced and dedicated attorney on your side who understands your situation. Our firm has been representing members of the DuPage County Muslim community for years, and our Oakbrook Terrace family law attorneys are here to assist you with your case. In the meantime, the following are some of the common issues that you might anticipate in a high asset divorce in Illinois.

Complex Property Division

Under the Illinois Marriage and Dissolution of Marriage Act (IMDMA), divorces in the state require that all property owned by the spouses be classified as either separate property or marital property. When it comes to dividing property in the divorce, only marital property is divisible, and it is divided according to the theory of equitable distribution.

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IL divorce lawyerWhether you are in the early stages of considering divorce or already have filed, it may be time to consider working with a forensic accountant who can assist with asset division. Financial issues often are among the most contentious ones in any DuPage County divorce case, and financial matters can be especially complicated and controversial in high net worth divorces where there are complex assets that will need to be identified, classified, and potentially distributed between the spouses. In some of the most difficult cases, one of the spouses is the primary breadwinner and goes to great lengths to hide marital assets in order to prevent them from being divided in the divorce.

No matter what your financial situation, a forensic accountant may be able to work with your DuPage County divorce lawyer to help with your case.

What Does a Forensic Accountant Do?

If you have never worked with a forensic accountant before and do not usually handle complex financial matters, thinking about hiring a forensic accountant can feel puzzling. You might be asking yourself: what does a forensic accountant do, and do I really need to hire one? According to a publication from the American Bar Association (ABA), more people should work with forensic accountants in their divorces given the benefits.

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