Chicago, IL family law attorney Michael Lodermeier talks about his experience in handling high net-worth cases.
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I would say half the practice has a client or clients that are categorized as a high net worth client. And I would say half my practice is devoted to that type of client and case. I think one of the things I bring to it is I’ve had numerous cases that involve complex high net worth individuals wherein their assets are strung across private equity firms and private equity types investments.
And I have a lot of experience in understanding the tax returns that come from that, the investment vehicles, as well as how they can be transferred. Because with high net worth individuals sometimes their assets cannot be transferred and they cannot be titled in somebody else’s name. But I understand and have ways of making sure that we can put somebody’s interest into a trust or some other vehicle wherein they do get their portion of that asset.