Key considerations in a high-asset Illinois divorce

by | Aug 20, 2019 | property division

A recent Forbes article evokes strong breakup-linked imagery when it refers to “looking down the barrel of a high-asset divorce.”

And it centrally conveys what is often in the sights for an impending ex-spouse.

Complexity for one thing. And the potential for discord if rancor quickly supplants a modicum of civility in negotiated exchanges.

It doesn’t necessarily have to be that way. Forbes points to the recent – and obviously high-profile – decoupling of Jeff and MacKenzie Bezos to make a few key points regarding catalysts that help to forge a successful (translated: mutually acceptable) dissolution.

For starters, notes the publication, having “an agreed-upon narrative in place” can be fundamentally important. Obviously, many divorcing couples in Illinois and elsewhere don’t feel like playing nice in a divorce, especially one featuring a vast trove of wealth that needs to be identified, valued and fairly divided. Showing a bit of unity, though, can go far toward deflecting third-party involvement in personal affairs and spare family members and friends from feeling like they have to take sides in a breakup.

Many high-asset splits end up being litigated in an adversarial manner, but that is far from being inevitable. Forbes underscores the effectiveness in many cases of alternatives to a courtroom that can materially promote ultimate divorce success.

Mediated divorce is one such vehicle. We reference that tool on our website at the Maryville Law Office of Jamie Mitchell, noting that mediation is even a requirement in Illinois in select cases. We stress the broad applicability that mediation often has in matters relating to finances and marital asset distribution.

Forbes duly ends its property-linked divorce piece by noting the “myriad financial issues that need to be addressed” in any high-asset decoupling. It stresses that the added complexity of a marital split involving notably high dollar levels puts a premium on securing the close involvement of a family law lawyer with proven experience in divorce-tied asset distribution.