When you are planning for a divorce and know that you own substantial assets with your spouse, it is important to have an experienced Aurora high-asset divorce attorney on your side who can advocate for your rights from start to finish of your divorce case. To be sure, high asset divorces often give rise to certain complications that do not come up in divorces where the spouses own assets worth significantly less money, or in divorce cases where the spouses earn relatively ordinary incomes. Below are some of the most common issues that arise in Illinois high asset divorces.
Valuing and Appraising Complex Assets
High value assets in a divorce can be notoriously difficult to value, particularly when the assets are complex or unique. For example, if you and your spouse own an art collection and all or part of the collection will be classified as marital property and subject to division, the market value of the collection likely will shift over time (and potentially significantly), and it may be difficult to determine the market value at the time of the divorce. In such cases, it may be necessary to work with an expert appraiser who can properly assess the market value.
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