Protecting Your Privacy During a High-Net-Worth Divorce

 Posted on November 07, 2024 in Divorce

Choosing to separate from your spouse is a difficult and personal decision. Once you decide to get divorced, taking time to consider how best to approach the separation and divorce proceedings can make a big difference. One important aspect often overlooked is the need to protect your privacy — not only from your spouse but also from outside parties who may have an interest in your situation.

Safeguarding your privacy can prevent misuse of personal data in court, protect financial accounts, reduce the risk of fraud, and keep your communications confidential. Privacy is especially important in high-net-worth divorces and even more so when children are involved. Working with a top-notch Illinois divorce attorney who understands the importance of privacy can help ensure you and your children are protected throughout this challenging time.

Are Divorce Records Public in Illinois? 

In Illinois, details of divorce cases, including asset division and custody arrangements, are generally public. Some exceptions apply, such as social security numbers, bank account numbers, and information involving minors. You may also request that the court seal specific financial and business records or, in some cases, the entire divorce record. An experienced attorney can help file a motion to seal parts of the divorce record if you demonstrate that public access would harm you.

Creating a Privacy Plan for Your Divorce 

Given the personal and financial impact of high-asset divorces, protecting your privacy is important. There may also be public curiosity about your divorce if you are a high-profile individual, which makes it even more essential to establish a privacy plan. Consider the following strategies:

• Setting Up a Trust: Setting up a trust can help keep certain assets private and separate. While hiding assets is not advisable, a trust can protect inherited assets that the law may consider separate from marital property.

• Using Confidentiality Agreements: Confidentiality agreements are helpful when dealing with key individuals in your divorce, such as financial advisors, attorneys, and other professionals. These agreements can be customized to cover specific privacy concerns, offering you peace of mind.

• Choosing Alternative Dispute Resolution: Collaborative divorce or mediation may help protect your privacy by keeping certain details out of public court records. In addition, settling privately through a confidential agreement allows you to keep sensitive information out of the public eye.

Maintaining Digital Privacy During Divorce

In high-net-worth divorces, digital privacy is a critical part of any privacy plan. Taking steps to secure online information can help prevent unauthorized access to sensitive details. Here are a few strategies to consider:

• Working Closely With Your Attorney on Digital Communication: Your attorney can advise you on types of digital evidence that may affect your case, ensuring you are well-prepared.

• Double Checking Your Communication: Avoid putting anything in writing that could be misinterpreted. This is also true for social media, where you may wish to limit or delete older posts that reveal personal details.

• Strengthening Existing Digital Security: Using encrypted email, regularly changing passwords, and creating a dedicated email account for divorce communications are effective ways to secure your online footprint.

• Staying Alert for Scams: Be cautious when receiving emails or texts from unknown sources to avoid phishing scams that could jeopardize your information.

Taking Steps Before the Divorce to Protect Your Privacy

Even before a divorce, privacy considerations can be valuable. High-net-worth individuals may benefit from pre- or post-nuptial agreements with confidentiality clauses that protect both parties' privacy in the event of a separation. And, if you are certain you are heading toward a divorce, try to keep the overall tone of your relationship as cooperative as possible. The more high-conflict a divorce is, the more likely it is that private information may be compromised by an angry spouse.

Seek Guidance from an Inverness, IL High Net Worth Divorce Attorney 

Handling privacy during a high-asset divorce can be complex, but guidance from an experienced attorney can make the process much smoother. Our Rolling Meadows, IL family law attorney understands the importance of protecting both your assets and your privacy. For personalized advice, reach out for a complimentary consultation and let us help you navigate this process with confidence and security.