Some individuals in Illinois who are preparing high-asset divorce cases will find that some experts can provide additional assistance during the process. Financial experts can help you during the planning of the divorce, the proceedings themselves and even with your plans for life after divorce.
Expert help when you are planning the divorce
Before the divorce negotiations begin, you will need to identify and value your assets. In a high-asset divorce, which may include many types of assets, a financial expert, such as a forensic accountant, can provide this type of service. The types of assets that may need appraising can include:
- Art collections
- Real estate property
You will also need to identify what property will be considered marital property and separate property. In a high-asset divorce, this can become a complex activity that necessitates assistance from a financial expert. In many cases, there will be property acquired after marriage that can be considered separate property and property that, at first glance, may seem like separate property but can also have parts of its value considered marital property.
Experts can help you prepare for your future
It is also important to think about how you will support yourself after your marriage ends. A financial expert can also help you with this. Particularly if you and your soon-to-be former spouse have different income streams, it may take some investigating to understand from which sources the family was receiving money for day-to-day expenses. You will need this information to carefully plan for the property division negotiations and figure out how you will pay for your own expenses after the divorce. You also will need to have a clear understanding of your lifestyle and expenses, so you can create a proper budget for the future.