Posted on July 20, 2024 in Adoption

High net worth divorces often involve diverse and complicated assets. Unlike standard divorces, where property division might be more straightforward, splitting wealth in high net worth cases poses unique challenges that can complicate divorce proceedings. Understanding the types of assets commonly involved in high net worth divorce cases can help you navigate the complexity of asset division more smoothly. And remember, no matter the type of divorce you are facing, hire an experienced Illinois divorce lawyer to guide you through the process.

Real Estate 

When facing a high net worth divorces, a couple’s real estate portfolio usually extends far beyond a single-family home, perhaps including multiple residences, commercial properties, and even international holdings. Each property can present its own set of challenges.

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 Posted on July 04, 2024 in Divorce

Divorce is an often intimidating process filled with uncertainty and strong emotions. Whether you are contemplating divorce or already are in the midst of one, consulting with an Illinois divorce lawyer is a crucial part of the process. Going into this consultation with a clear understanding of what you need to know and what you can expect from an attorney will help you set reasonable expectations, which will help the entire divorce process go more smoothly. Here are three essential questions to ask during a divorce consultation to help you better understand and navigate this difficult time.

How Much Can I Expect My Divorce to Cost?

One of the first things people worry about when considering a divorce is how much it will cost. The cost of divorce varies widely depending on many factors, such as the complexity of your case, whether the divorce is contested or uncontested, and the attorney’s rate.

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 Posted on June 26, 2024 in Spousal Support

Alimony, often called spousal support, is a financial payment one spouse makes to the other after a divorce. Illinoisans often wonder if gender impacts who must pay or receive alimony. Simple put, no – gender does not matter when it comes to alimony. To explore how alimony works and to further understand why gender is not a factor, contact a lawyer to ensure you understand the alimony process and other processes related to your divorce.

Gender Equality in Alimony

One common misconception about alimony is that only women receive it. This belief comes from past decades when men were usually the primary breadwinners in the family. However, times have changed, and so have the laws. In Illinois, alimony is gender-neutral. This means that either spouse, regardless of gender, can receive or pay alimony. The Court's goal is fairness and balance, not favoring one gender over the other. This is true even if one spouse identifies as nonbinary, transgender, or any other gender besides male or female.

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 Posted on June 22, 2024 in Divorce

In Illinois, the process of divorce can take two primary forms: contested and uncontested divorce. Knowing the difference between these two types can help make this process a little easier by giving you a clearer picture of what to expect. Discuss with an attorney what each process entails to ensure you can choose the right method for you and your situation.

Difference #1: Agreement on Major Issues

One of the most significant differences between contested and uncontested divorces is whether both parties agree on major issues. In an uncontested divorce, both spouses agree on all major aspects, such as property division, child custody, and support arrangements. This agreement can make the divorce process smoother and faster.

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 Posted on June 18, 2024 in Adoption

 Divorce can be a stressful time, especially when there is domestic abuse involved. In Illinois, people who are facing abuse can seek help through legal measures like obtaining an order of protection. These orders are crucial for ensuring safety and peace during such challenging times. But what exactly qualifies as domestic abuse, and who can request these orders? A trusted attorney can answer these questions and more.

Understanding Different Forms of Domestic Abuse

Domestic abuse is not just about physical violence. It can include stalking, intimidation, and harassment. For example, stalking can involve someone following you around, showing up unannounced at your workplace or home, or constantly watching you, making you feel afraid. Intimidation could mean someone is threatening you or using fear to control your actions. Harassment can be anything like continuous unwanted phone calls or showing up uninvited. These kinds of actions can create a very unsafe and stressful environment for anyone, making it crucial to recognize and address them right away.

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 Posted on June 12, 2024 in Marital Property

When it comes time to divide assets in a divorce, some spouses may resort to tactics such as asset dissipation. Asset dissipation is when one spouse uses marital assets for his or her benefit in an attempt to reduce the assets for division.  For example, a spouse may decide to withdraw large amounts of money from a shared marital account to fund a luxurious vacation and, in the process, decrease marital resources, so there is less money for his or her spouse to receive after the divorce. At other times, spouses will try to hide money or claim that marital money actually only belongs to them.

In divorces involving questions about how a spouse is handling marital money or whether money belongs to both spouses or only one spouse, forensic accounts can be helpful. While hiring a forensic accountant can be costly, these professionals' services may be worth considering. Talk with your lawyer and see if hiring a forensic accountant makes sense for your divorce.

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 Posted on June 03, 2024 in Marital Property

Dividing assets in a divorce is rarely straightforward, but splitting retirement accounts can be especially challenging. Retirement accounts can pose unique difficulties due to contributions made both before and during the marriage. From 401(k) plans to pension funds to IRAs, these assets require careful handling to ensure a fair division. Fortunately, a knowledgeable divorce lawyer can assist you through this process. Here is how a qualified lawyer can assist in dividing various types of retirement accounts, including stocks, bonds, and other investments. 

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 Posted on May 22, 2024 in Division of Property

The coming together of two people for a lifetime is not without its challenges. Couples’ shared life experiences can sometimes present situations that create a lot of tension and are difficult to resolve. One effective tool to help manage these challenges and strengthen the relationship is a postnuptial agreement that an Illinois attorney can help you create. 

In many ways, a postnuptial agreement is the financial equivalent of marriage vows. A clear determination of how certain things will be handled can help prevent potential disputes and sources of tension. As a result, the married couple can focus more on nurturing the relationship rather than fighting over money. Here are three ways a postnuptial agreement can improve your marriage.

Reduces Financial Stress and Arguments 

One common source of family discontent and disagreements is about money. Such conflicts can destroy even the most robust and loving relationships. A postnup is created to ensure that spending, saving, and the family’s financial goals are clear and well-established. A postnup can discuss how the parties’ income will be allocated, how debts will be settled, and how assets will be divided in the event of a divorce.

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 Posted on May 20, 2024 in Child Support

As the dynamics of family structures evolve, so too must the legal frameworks that govern child support. In Illinois, child support laws reflect a more equitable and comprehensive approach known as the “income-shares” model. These laws not only impact how child support is calculated but also emphasize the shared financial responsibilities of both parents in ensuring the well-being of their children. If you live in Illinois, have dependent children, and are getting divorced, contact an attorney to ensure you understand the law.

Embracing Equity Through the Income-Shares Model

One of the most important concepts found in Illinois' child support laws is the principle of equity between parents. Traditionally, fathers were seen as a family’s primary financial provider and were therefore almost always the parent who paid child support. The income-shares model instead requires figuring out each parent's monthly net income and then combining these to establish a total support obligation. This approach ensures both parents share the responsibility for supporting their children, regardless of the parent’s gender.

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 Posted on May 08, 2024 in Child Custody

Navigating the land of parenting can often feel like venturing into unknown territory, even when you have had children for years. When divorce adds into the mix, parental feelings of despair and worry regarding what the future may hold are common and can bring considerable distress to parents and children alike.

In Illinois, parents getting divorced must create a parenting plan, a critical piece of Illinois divorce law. But what exactly are parenting plans, and why are these plans so important? Any parent in Illinois dealing with divorce must understand the complexities of making a parenting plan - that way, once it becomes time to create a parenting plan, you and your child's other parent can make your plan the best it can be.

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