Illinois Complex Property Division Attorneys

Few parts of a divorce are as complicated or as consequential as property division. When a marital estate includes more intricate assets, the choices made now can shape your financial future for years to come. At SLG Family Law, we focus on more than just the numbers: we work with you to understand your goals, protect your interests, and secure an equitable outcome that sets you up for the next chapter of your life.

What Makes Property Division Complicated?

Some marital assets are more difficult to divide because their value isn’t straightforward to determine. These “complex” properties require careful analysis beyond a bank statement or tax return. Common examples include:

• Business Interests: When one or both spouses own a business, its value isn’t just about current assets. A fair assessment also considers income, cash flow, goodwill, and future growth potential.
• Rental Properties: Residential or commercial rental properties add complexity because their worth depends on both the property itself and the income it generates.
• Retirement Accounts: Pensions, 401(k)s, and IRAs often contain a mix of marital and non-marital contributions. Determining the current value of future payments or separating contributions made during the marriage requires precise calculations.

Because these properties involve multiple factors and future considerations, handling them properly can make a significant difference in the overall settlement.

How Does an Attorney Value Complex Assets?

To reach a fair settlement, it is crucial to identify all assets, assess their true value, and classify them as “marital,” “non-marital,” or a mix of both. This depends on when and how an asset was acquired, whose name it is in, and what contributions were made to its value during the marriage.

Knowledgeable attorneys do not work in a vacuum. They rely on a team of professionals to provide accurate assessments. This may include:

• Business Valuators to report on the value of a business interest.
• Forensic Accountants to testify about a spouse’s true income and cash flow.
• Real Estate Appraisers to give opinions on the value of residential or commercial property.
• Actuaries to calculate the present-day value of a pension or divide retirement accounts like a 401(k).

By assembling the right team, your attorney can build a clear picture of the marital estate’s total value and advocate for your fair share.

The Risks of Inaccurate Asset Assessment

Failing to handle complex assets with precision during a divorce can have lasting and significant consequences, such as:

• Receiving Less Than Your Fair Share: A poorly assessed business or property could result in an undervaluation, leading you to receive a smaller portion of the assets than you are legally owed.
• Unforeseen Tax Burdens: Certain assets come with tax implications. Without proper analysis, you could end up with unexpected tax liabilities that reduce your settlement.
• Future Financial Instability: An inequitable division of assets can jeopardize your long-term financial security, making it more difficult to maintain your lifestyle and plan for the future.

A thorough, professional assessment of all marital assets is the best way to safeguard your financial future as you begin the next chapter of your life.

Protect Your Share of What You’ve Built

The attorneys at SLG Family Law have successfully managed numerous cases involving the division of complex marital estates. We are prepared to develop a strategy that secures an equitable share of the assets you helped build. Contact us today to assess your case and create a plan for moving forward.