High Asset Divorce in Illinois

Jul 28, 2021 | Divorce, Firm News

What is considered a high asset divorce in Illinois?

Illinois law defines a high asset divorce as a divorce where the net income of the spouses is $500,000 or more. In the case of a high asset divorce, the court will take into consideration certain circumstances in order to determine alimony. These circumstances are listed in the Illinois Marriage and Dissolution of Marriage Act (750 ILCS 5/504) and include the needs of each party, and the standard living of each party.

View More Information Here