When spouses with a high net worth divorce, the property division process can be complicated and contentious. There are a number of factors that must be considered in order to ensure that each spouse receives a fair share of marital assets. Identifying, valuing, and dividing property during a high-net-worth divorce can be a difficult task, as there are often a large number of assets to be divided, and many of these assets are complex in nature.

Identifying Marital Assets

The first step in dividing marital assets is to identify all of the assets that are subject to division. Any assets obtained by either spouse during the marriage are marital assets. Non-marital assets include any property earned or otherwise obtained before the marriage or after the spouses were legally separated. However, determining what is marital property and what is non-marital property is rarely this simple. For example, the increase in value of non-marital assets may be considered marital property. Property can also be transmuted from non-marital property to marital property through the commingling or mixing of assets.

Make sure you address assets such as:

Did you know that over half of all marriages in the world are arranged marriages? An arranged marriage is a marriage that is set up by the spouses' respective family members or a matchmaker. Arranged marriages are most common in the Middle East, South Asia, and Africa. However, individuals living in the United States may also enter into arranged marriages.

The overall U.S. divorce rate hovers around 40-50 percent. However, only about four percent of arranged marriages end in divorce. Some argue that the low divorce rate is a product of excellent matchmaking skills, while others cite cultural norms that encourage spouses to stay together and work out their differences.

If you or a loved one are in an arranged marriage and considering divorce, it is important to know what to expect. The divorce procedure for arranged marriages in Illinois is the same as the divorce procedure for self-selected marriages. However, many divorcing spouses in this situation may encounter personal, legal, financial, and familial challenges when dissolving an arranged marriage.

When a couple gets married, they inevitably combine their finances, property, and personal belongings. Unfortunately, this becomes a point of vulnerability in some divorce cases. If one spouse feels they have been wronged, they may use the shared property to take revenge on the other spouse. A spouse intent on exacting revenge may smash the other spouse's record collection or sell their property without permission. They may drain the joint savings account during a vacation with a new lover, intentionally wreck a shared vehicle, or take other vengeful actions out of spite.

If your spouse has sold, destroyed, or wasted your property during a divorce, there are some legal steps you can take to protect yourself and possibly recover reimbursement for what was taken from you.

Financial Restraining Orders During Illinois Divorce Cases

We typically think of restraining orders in terms of domestic violence, but some restraining orders apply to financial actions. In Illinois, financial restraining orders can be used in a divorce case when one spouse is trying to hide or dissipate (waste) assets. This order requires that all financial accounts, and any other shared property, remain exactly as they were until the division of assets has been finalized.

High-conflict divorce is wrought with disagreement, resentment, and hurt feelings. Every divorce involves some degree of contention, but a high-conflict divorce is often characterized by ongoing hostility, litigation, and often a lack of civility between the parties. Alternative resolution methods like mediation may be out of the question, and communication between parties is often strained.

But even if you are facing a contentious divorce, there are still steps you can take to help manage the situation and come out of it in a better place. Here are five tips for getting through your high-conflict divorce in Hinsdale,

How to Handle a Divorce When Your Spouse is Hostile and Refuses to Cooperate

Each case is different, but a high-conflict divorce often involves greater legal complexities than a typical divorce. Spouses may also experience substantial emotional and psychological difficulties during the divorce process. They may have trouble sleeping or concentrating, feel anxious or depressed, and even exhibit extreme revenge-seeking behaviors. If you are headed for a high-conflict divorce, make sure to prepare yourself for what is to come and build a strong support system to help you get through this challenging time in your life. Additionally, consider the following:

Alimony is not ordered in every Illinois divorce case. However, a spouse may be required to pay alimony in certain circumstances. If you are the breadwinner in your family and you plan to divorce soon, you may have questions about your alimony obligation.

Alimony payments, called "spousal maintenance" in Illinois, can be substantial. It is crucial that you understand your rights and responsibilities if you suspect that maintenance may be a factor in your divorce.

Spousal Maintenance May Be Negotiated or Ordered by the Court

There are a few different ways that a spouse may receive spousal maintenance through their divorce. Some couples sign prenuptial agreements or postnuptial agreements that entitle the lower-earning spouse to alimony. If you do not have an agreement describing your alimony obligation, you have the option to create one as a part of your marital settlement agreement.