Are you and your spouse getting a divorce in Arlington Heights? If so, you are well aware that the orders that a court enters in your divorce case can impact you long after the order granting your divorce is finalized. In particular, the manner in which a court identifies, values, and divides the marital property of the divorcing spouses will determine the property with which each spouse will begin his or her new, single life and, hence, the financial footing upon which each spouse will move forward from the divorce.
When your marital estate includes items of a unique or one-of-a-kind nature – a business, intangible property, or pensions and retirement accounts, for example – you must ensure the court properly values these assets and divides them in a fair and equitable manner as well as in a manner that makes sense. SAM LAW OFFICE LLC is your Arlington Heights complex property division attorney and can help you do just this.
One of the first steps to a “fair and equitable” division of property in an Arlington Heights divorce involving a business or retirement account (for example) is to determine the property that comprises the marital estate of the parties. Property that was acquired before the parties’ marriage or that comes into the possession of one party or the other through certain means (i.e., as inherited property) may be excluded from consideration as marital property – no matter how valuable the property might be.
If the pension, business, or other item of a unique nature is properly included as part of the marital estate, it must then be appropriately valued. For this, SAM LAW OFFICE LLC ensures that reputable and trustworthy appraisers and other professionals are used to establish an assets true value – not the value that one party or the other would like assigned to the asset.
Finally, “fair and equitable” division of the marital estate does not always mean a valuable asset such as a business or retirement account must be sold or liquidated and the proceeds thereof divided. Through skillful advocacy, a valuable asset that is meaningful to you or that might appreciate significantly following the divorce may be awarded to you outright in exchange for an award of other property of a similar present value being given to the other spouse. Creative property division orders and agreements help ensure you retain the maximum amount of useful property and assets following your divorce.
Engaging and retaining the services of SAM LAW OFFICE LLC as early as possible in your Arlington Heights divorce is crucial to making a complex property division process more manageable. We will help you and the court identify, value, and divide your marital property – including items of a unique or valuable nature – in a way that makes sense and that protects your rights and interests. Call our office today at (847) 255-9925 or contact SAM LAW OFFICE LLC online.