Issues in High Asset/Net Worth Divorce

1933 North Meacham Road,Schaumburg IL 60173

08 March, 2023

Description

Divorce for those with substantial assets, net worth, and income can be very complicated and complex and requires special attention and consideration of many financial issues. Join Lavelle Law attorneys, Joseph Olszowka, Colleen Breems, and Heather Walser, as they take a critical look and offer strategies for the following issues in high asset/net worth divorce cases. Topics they will cover include: Issues and methods used to determine the value of assets and their proper and equitable division between parties in a divorceIssues specifically related to the valuation of closely held businessesValuation of pension and retirement accounts How maintenance (alimony) is determined in high net worth casesWhat sources of income the Court considers in determining the amount of child support to be awardedOther factors the Court considers in determining child supportPost-divorce financial issues (IRS disputes, etc.) High asset/net worth divorce cases also require a careful examination of the implications of a divorce in estate planning, including but not limited to: Issues related to retirement benefits Life insurance Tax planning Overall estate plans Doors will open at 7:45 for a complimentary continental breakfast and the presentation will begin at 8:00. Registration is required as seating is limited. No walk-ins. MEET THE PANEL Joseph A. Olszowka Attorney Joseph Olszowka has over 30 years of experience handling family law cases. Before joining Lavelle Law’s Family and Divorce Law Practice Group, Mr. Olszowka was the Principal Attorney at the Law Offices of Joseph A. Olszowka, Jr., where he successfully litigated hundreds of cases, including complex divorce, parental allocation, parentage, child support, business valuation, adoption, and domestic violence cases. Olszowka attended John Marshall Law School, has a certificate in family law, is on the DuPage and Will County approved Child Representative/Guardian ad Litem appointment list, and is an approved mediator in DuPage County and Will County for family law cases. Colleen M. Breems Attorney Colleen Breems is a vital member of our Family and Divorce Law team. She handles high net worth divorce cases, prenuptial agreements, and postnuptial agreements and has skillfully handled family law cases of every shape and size. Ms. Breems is on the Cook County approved Child Representative/Guardian ad Litem appointment list and accepts appointments by Judges in Cook County to represent minor children in domestic relations matters. She also is certified in Mediation Skills Training from Northwestern University. Ms. Breems has been recognized by the Chicago Bar Association, winning the David C. Hilliard Award for Outstanding Committee Service in 2022, and serves as Chair of the Young Lawyers Section Family Law Committee. Colleen has sat on DePaul University Family Law Center Advisory Board as an alumni advisor, and currently serves as Vice President of the Advocacy Council at the Junior League of Chicago. Colleen also provides pro bono legal services through Chicago Volunteer Legal Services. Heather G. Walser Attorney Heather Walser is a Lavelle Law Shareholder with more than 20 years of experience. She focuses her practice in the areas of estate planning, wills and trusts, estate and trust administration, and elder law, and is the shareholder in charge of the Estate Planning Practice Group at the firm. Heather works closely with her clients to provide comprehensive solutions for protecting them and implementing their wishes. Heather is committed to understanding all details and aspects of her clients’ issues and providing them with the highest level of service for their legal needs. She is frequently consulted by our family law attorneys when complicated issues arise pertaining to dividing large assets including the sale of a business, retirement accounts, and pension plans.