High Assets Can Mean High Complexity

Involving the law in any personal problem puts more stress into an already stressful situation. At Watson Law in Illinois, our Peoria high-asset divorce attorney understands the fragile dynamic frequently involved in family conflicts.

Drawing on her decade of experience and extensive trial skills, Ms. Watson helps divorcing couples deal with legal issues efficiently and effectively so that they can move on with their lives. In particular, she guides high net worth individuals through the complexities of divorce in a way that maximizes their financial security and preserves their fair share of commingled property and other assets.

These assets may include:

  • Pensions, IRAs, 401(k)s and other retirement accounts
  • Closely held businesses
  • Stocks, mutual funds or investment accounts
  • Bank accounts
  • Houses, cars, vacation property or other real estate
  • Valuable antiques or collections

Your Choices Today Will Determine Your Financial Future

When it comes to dividing marital property in divorce, it is critical that you make the right choices and take the assets that will truly benefit you in the long run. For instance, if you must decide between a house worth $500,000 and the same amount of money in cash from a joint pension fund, it may be tempting to take the cash.

However, if you choose to take the money from the pension, you will pay a 30 percent penalty tax. Will the money you lose in taxes be balanced out by the interest you will gain? Probably not.

The bottom line is that you must take extreme care when deciding which assets to fight for and which to walk away from, because some carry significant hidden penalties. Our lawyer will advise you about your full rights and options, so that you can make the choices that will place you and your children in a secure position.

Contact Our Peoria Marital Asset Division Attorney

Contact Watson Law by email or call 309-733-4395 or toll free at 888-357-4339 for a free initial consultation about divorce asset protection. We have offices in Peoria and in Washington, and we offer flexible scheduling and reasonable fees. We also accept all major credit cards.