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Tag Archives: dividing marital property

Kane County divorce attorneysDivorce can affect couples from all walks of life, even the financially flush. However, when wealthy people decide to end their marriage, the proceedings can differ somewhat from those who have relatively few assets to divide. For a wealthier couple, there will understandably be a more prolonged discovery period, as well as a focus on ensuring that all assets are properly identified and evaluated.

What Is Equitable Distribution?

The primary issue in high-value divorces is that because so much is at stake, each party is more likely to dig in and fight for what they see as their rightful share. In some cases, however, it is not the spouses but the court that decides what is an appropriate distribution. Illinois is an equitable distribution state, meaning that property is not divided 50/50 as it would be in a community property state. Rather, experts help evaluate each asset so that each party may receive a share that is equitable and fair based on the circumstances of the situation.

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