“High-net-worth” is a subjective term rather than something you’ll find in official family-law documents and statutes. There is a general agreement that a high-net-worth individual has $1,000,000 or more in liquid assets. The Illinois Marriage and Dissolution of Marriage Act is the legal guide when it comes to the distribution of assets and calculations for alimony and child support.
Why Do I Need a Lawyer Knowledgeable in High-Net-Worth Divorce Cases?
While the Illinois Marriage and Dissolution of Marriage Act does set guidelines for determining how spousal support and child support are calculated, determination of marital assets can be a highly-subjective aspect of a divorce. In a situation where the combined gross income of a couple is $500,000 or more, the same calculations are not applicable. At this point, it may come down to how well your divorce attorney communicates to the judge and proves out your interests.