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Rolling Meadows divorce attorney asset division

Although many people find love in their lifetimes, not all couples live happily ever after. The most recent census data and statistics show that approximately 40 percent of all U.S. marriages end in divorce. Whether you were married for a few months or a few decades, you may still have the same issues to determine. One of the most important aspects of any divorce is determining who gets what once the papers are signed. In some cases, spouses may agree to divide their assets on their own. In other scenarios, a couple cannot reach a mutual decision and therefore the court gets involved, with a judge making a determination based on the equitable distribution method, which means marital property is split fairly but not necessarily in half. Once the divorce decree or settlement is finalized and you and your spouse part ways, it may be necessary to update important financial and healthcare documents.      

Preparing for Single Status Again

The thought of being single again after marriage can be frightening and exhilarating all at the same time. Naturally, you might be so focused on the emotional part of your relationship ending, that you do not even think about all the documents or paperwork that goes along with the dissolution of your marriage from a legal standpoint. One of the first things that need updating to reflect your new marital status is your last name. This would only apply if you are a female who wishes to start using your maiden name again. The court can include this name change as part of the divorce decree. If it is not included, you will need a certified copy of your divorce judgment from the circuit clerk to change your name. 

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Northwest Cook County divorce attorney

If you are getting a divorce, you must make decisions based on reliable information. Unfortunately, there are many myths surrounding divorce in Illinois and the various issues people face during the process, such as child custody, visitation, and the division of marital assets. When going through the divorce process, recognize the common divorce myths that you may hear and understand the truth behind them.

You Must Prove Fault in a Divorce

When first considering divorce, you may think that you have to prove your spouse is at fault for the breakdown of the marriage. Oftentimes, the ending of the marriage is not anyone’s fault, people simply fall out of love or want to go in different directions. Fortunately, the only type of divorce you can file in Illinois is known as a no-fault divorce, which means you only have to state that the marital relationship has broken down and there is no chance of reconciliation. So, even if neither you nor your spouse was at fault for the divorce, you can still file to legally end your marriage.

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Schaumberg family law attorney, file for divorce, contested divorce, Illinois divorce process, divorce courtMany considerations go into the decision to get divorced; family, finances and personal happiness are important drivers. Making this momentous decision often feels like the hardest part of the process; however, deciding to divorce is just the first of many decisions couples must make as they transition to single adulthood.

One of the earliest and most important decisions in the divorce process is where to file the case. For many couples, this issue is not terribly complicated if both parties live in close proximity. Yet knowing where to file is not so straightforward for those who live in different states or in different parts of the same state.

One example of how contested this issue can become is seen in the highly contested divorce case of former House Representative Jesse Jackson, Jr., who is in the middle of a months-long battle with his wife, former Chicago Alderman Sandi Jackson, over whether the divorce should be granted in Illinois or Washington, D.C.

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Posted on in Divorce

default judgments, Palatine divorce attorney, Illinois divorce process, divorce petition, divorce processDisagreements and a lack of cooperation are two of the primary catalysts for divorce, as both spouses experience a loss of connection with one another. While either spouse can initiate the legal process to end the marriage, some amount of cooperation is expected and almost required from both to conclude a divorce case in a timely and efficient manner. However, a Judge cannot force a party to respond or participate in a divorce proceeding if he or she refuses to do so.

A lack of participation by a spouse does not doom a case but puts a Court in a somewhat uncomfortable position. Courts do not like to conclude cases without hearing something from each side; however, if notice of a petition is sent and ignored, a Court will enter a default judgment in favor of the petitioning spouse. A default judgment has serious and permanent consequences for both spouses and is far from an ideal or even fair result.

When Default Judgments Are Entered

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high earners seeking divorce, Barrington family lawyer, divorce and taxes, Illinois divorce process, property settlement agreementAny couple that enters the divorce process must contend with the fact that their marriage is over, and the image they had of the relationship is over. Regardless of the specific circumstances that led to the decision to dissolve the marriage, divorce typically requires the parties to address certain basic issues.

However, some couples present unique circumstances that have a direct and significant effect on the proper approach to divorce itself and the specific issues that are likely to be contentious. Couples with high net worth, especially, fall into the category of individuals who need a specific and personalized strategy to make the divorce process as streamlined and effective as possible.

Couples with considerable wealth have a lot to lose due to the complex and unique financial issues they bring to such cases. If divorce cases of this kind are not properly handled, the need for additional costly litigation is greatly increased. By focusing on the correct issues, however, all areas of disagreement can be satisfactorily settled within the initial divorce petition.

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hiding assets, Barrington divorce attorney, Illinois divorce, Illinois divorce process, concealing assetsAvoiding the stress that accumulates prior to and during a divorce is not possible for most individuals. The issues surrounding divorce are sensitive, personal and have significant long-term implications that often overwhelm one's attempts to keep his or her emotions in check. Property division, especially among couples with substantial assets, is one of the more complex and contentious areas in divorce proceedings.

Disputes are particularly more likely if one spouse is the primary income-earner and controller of the assets. In this situation, the other spouse may have concerns about the concealment of assets in an effort to keep a spouse out the divorce settlement. The concealment or intentional omission of assets potentially subject to division in divorce will have serious financial consequences for the deceived spouse, and must be aggressively investigated if such action is suspected.

The former wife of Robert Foisie, a wealthy entrepreneur and benefactor of Worcester Polytechnic Institute, filed a lawsuit against Foisie and the school following discovery of a Swiss trust account containing $4.5 million that was not disclosed during their divorce — a trust that was later gifted to the school. Given how important accurate accountings of assets are to a fair divorce settlement, a understanding of the financial information all divorcing parties must disclose, and how to handle suspicions a spouse is hiding assets, is essential.

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Inverness divorce attorney, high net-worth divorcesThe divorce process requires both spouses to accept and expect that a considerable amount of money will be spent to dissolve the marriage. The expense of divorce is especially an issue for couples with high net-worth, and the associated complications often relate to property division and spousal maintenance.

One cost that parties are particularly reluctant to pay is attorney fees. While this cost may seem like a considerable amount, divorce attorneys provide valuable services that contribute to the outcome of Court decisions on pivotal issues, such as child custody and the division of assets. However, which party pays attorney fees is a common negotiating point in divorce settlement agreements between wealthy spouses.

The Illinois Supreme Court recently issued a ruling in a case on the issue of attorney fees in a divorce that involved a considerable amount of litigation initiated by the same party. This decision could impact how legal fees are paid in divorce cases going forward, making the exploration of the Court's rationale necessary.

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Posted on in Divorce

filing for divorce, Hoffman Estates family law attorneyThe process of divorce, from beginning to end, is different for everyone. Few couples rarely jump to ending a marriage at the first sign of trouble. However, couples who enter divorce must decide at some point that the marriage is not salvageable. Legally dissolving the relationship may be the best decision.

Once the decision to divorce is made, the hardest part of the process may seem over, yet filing a divorce petition and proceeding through the legal system is not as seamless as one may think. First, one must determine where he or she is eligible to file for divorce, and in which specific courthouse to file the papers. Someone seeking divorce cannot simply walk up to any Court in the state to file the necessary documents. At the very least, residency and venue requirements must be satisfied before a Court will accept a person's petition for divorce.

Residency and venue issues are the gateway to starting the divorce process. Yet while these issues are straightforward for most couples, others may have reason to challenge the opposing party's claim. Consider how to establish residency and determine venue for purposes of divorce, as well as when someone may want to dispute these issues.

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