Elmhurst, Illinois Divorce Lawyers for Legal Professionals

Helping Attorneys Protect Their Rights During Divorce Cases in Elmhurst

No matter who you are, getting a divorce is a deeply personal process that can affect your financial and personal interests while also causing emotional turmoil. Legal professionals may face some unique complications and higher stakes during the divorce process. Judges, lawyers, and other professionals in the legal field understand the importance of strategic planning and discretion, and they will want to take steps to effectively safeguard their rights and interests.

Asset and property division are among the top concerns for legal professionals as they decide how to split what they own with their soon-to-be exes. If you have spent your life building a law firm or legal practice, you understand the importance of trusted legal representation. Due to the nature of the legal community, your divorce could have adverse effects on your professional relationships due to the public nature of litigation.

At A. Traub & Associates, our attorneys value discretion, compassion, and client commitment. With more than 20 years of experience, Angel Traub is a highly decorated member of the legal community, and she and her team are extremely well-versed in family law and divorce. If you are going through a divorce in Elmhurst or its surrounding areas, we are ready to help protect your reputation and minimize disruptions to your legal career. When it comes to ending a marriage, even legal professionals will need legal, financial, and emotional guidance.

Law Firm Ownership and Business Division During Divorce

Regardless of whether you are a solo practitioner or a partner at a law firm, your practice could be subject to the asset division process if the business was created or acquired during your marriage. A business valuation may be necessary to ensure that you understand the full value of business assets and will be able to equitably distribute your marital property. Common valuation considerations for law firms include:

• Anticipated future income and history of earnings
• Tangible resources such as property, financial accounts, and office equipment
• Intangible benefits such as goodwill, reputation, and client relationships

Our lawyers may collaborate with financial experts in order to accurately and thoroughly examine the nuances of your legal practice. We can provide support if you need to consider selling, dividing, or exploring alternative options for a law firm. You may be able to maintain ownership in exchange for offering offsets or structured settlements for other marital assets, or you may put arrangements in place to buy out your spouse's share of a firm over time.

Other Legal and Financial Considerations in an Illinois Divorce

There are many other critical considerations that will require close attention during the divorce process. Spousal maintenance and child support may be calculated based on income, profit distributions, and bonuses. The division of retirement benefits and accounts may also need to be addressed. Property transfers, buyouts, and non-compete clauses could affect your ability to avoid unexpected expenses or reorganize a law firm.

The best way to make informed decisions and prepare for both the immediate and long-term impacts of your divorce is to carefully analyze the full scope of each spouse's financial circumstances. Our lawyers can help you move forward confidently, knowing that your business interests and livelihood are secured.

Safeguarding Your Reputation

As members of the legal field, we understand that your legal career can depend on your standing in the community. Your divorce may involve negotiations, court filings, and heated disputes. To prevent these issues from having a lasting impact on your legal career, we can help you use a wide range of strategies, including:

• Limiting disruptions to your ongoing work or responsibilities.
• Providing guidance on how to navigate ethical concerns in the event that your spouse may share professional connections or work in the same legal field.
• Assisting with private negotiations and confidential settlements to preemptively limit public exposure.
• Sealing financial records or pursuing protective orders.
• Taking care to avoid potential friction with clients, employees, or partners who may be active in the same courts.

Contact Our Elmhurst, IL Divorce Attorneys for Legal Professionals

Our firm understands the unique challenges that lawyers and other legal professionals can face when going through a divorce. When you are looking for balanced and confidential representation for your high-net-worth divorce, the attorneys at A. Traub & Associates are ready to help protect your reputation, practice, income, and more. Contact our Elmhurst divorce lawyers at 630-426-0196 for a discreet consultation.