High Net Worth Divorce in Illinois
Created on July 21, 2020
For family law practitioners, financially severing a high net worth couple can be incredibly mentally engaging. This type of case pulls on all your areas of experience and stretches your knowledge of the financial world - but working with a balance sheet of hundreds of thousands or millions of dollars can also be intimidating. At the end of the day, a dissolution advocate must ensure that their client is not financially injured by the split of the divorcing couple's assets and debts. This requires a high level of care and attention to detail as you are working through the case. This course will provide a checklist of considerations and items to investigate as you are helping a high net worth client disentangle from their partner.
Some of the topics that will be discussed are: inheritances, liquidations, gifts from parents, business valuations, capitalization, the years purchased method and discounted future earnings method, finding hidden money, investigating tax returns, income verification, QDRO's, conservative vs risky investments, appreciating, depreciating, and tax-advantaged assets, retirement savings, maintenance and child support calculations, and more.
- Discuss what are - and are not - marital assets
- Sort through years of financial paperwork to analyze income, assets, inheritance, and more
- Identify what kinds of assets and liabilities are more useful for your client
- Effectively utilize financial planners and accountants during negotiations
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