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5 Must-Know Tips for an Illinois Divorce
The process of filing for a divorce can be complicated, time-consuming, and expensive. The decision to dissolve a marriage can be extremely difficult for all members of the family. However, there are ways to ensure that a divorce is as easy as possible. Below are five must-know tips if you are looking to file for a divorce in the state of Illinois
Do Not Point Fingers
The state of Illinois is considered a “no-fault” divorce state. This means that despite any wrongdoing from your partner, there is no at-fault party, and the divorce proceeding will focus on an equitable division of property and a workable parenting plan, if applicable. Do not waste time compiling information on any poor behavior from your partner including cheating or abandonment. The judge will not consider any of these circumstances when deciding on the issues of your divorce
The only exception to this rule is if your partner was abusive. If your partner has a history of being abusive towards you, your children or others, including a criminal record, this information may be factored into determining custody of children and other aspects of the divorce.
Does Child Support Include Paying For College?
When filing for a divorce with children involved, each spousal party will be required to uphold their individual parental responsibilities. This typically includes who will be the residential parent who primarily lives with the kids, dividing up parenting time, division of assets such as the home and child support payments. The majority of child support payments end when the child turns 18 years old. However, there are a few reasons why child support may be extended past the time the child becomes a legal adult. These reasons may include extenuating medical expenses or even paying for your child’s college education.
Do I Have to Pay for My Child’s College Tuition?
Whether or not a parent is required to extend child support payments through the time the child is in college is determined by your divorce agreement. Judges will typically approve a divorce decree that allows the children to live with the assets they would most likely have had if the parents remained married. This means that if the two divorced parents would have been in a better financial situation to pay for college had they stayed married, a judge may elect to have the non-custodial parent help pay for tuition.
Getting Divorced When You Co-Own a Business with Your Spouse
Starting a family business can be a wonderful way to combine working and spending time with your loved ones. When a married couple owns a business, they may not give much thought to who owns what share of the business. After all, they are in this together. Unfortunately, spouses who co-own a business may find themselves facing significant, complex issues during divorce.
If you are getting divorced and you and your spouse own a business together, you have several options: You may sell the business and split the proceeds, assign ownership of the business to one spouse, or continue running the business together. Which option is right for you will depend on your unique circumstances and long-term goals.
Running the Business Together After Divorce
Even if you and your spouse are not romantically compatible, you may still be great business partners. Though rare, some divorced couples continue running a family business together after divorce. Doing so many be complicated on both a practical and financial level. However, for some couples, this is the best option available. If you want to co-own the business with your ex after the divorce, work with your divorce lawyer and a financial expert to ensure you put the proper legal and financial precautions in place.
Eight Tips for Recently Divorced Parents During the Holidays
Did you know that divorce is consistently ranked as one of the most stressful life events a person can go through? The Holmes-Rahe Stress Inventory ranks divorce as second on its list of stressful experiences – just under the death of a spouse. Getting divorced or separated during the winter holiday season can be especially difficult for parents as well as adults. If you are a parent who is recently separated or divorced, read on to learn strategies for reducing stress and increasing holiday cheer.
Reducing Stress this Holiday Season
The first holiday season after a separation or divorce will be painful. There is simply no way to completely eradicate the heartbreak, regret, anger, and other difficult emotions associated with divorce. However, divorce is also an opportunity for renewal and hope. As you and your children navigate your first Christmas, Hanukkah, Kwanzaa, or New Year after the split, keep the following tips in mind:
Valuing and Dividing Digital Currency in Your Illinois Divorce
Cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin have become increasingly popular investment tools. Studies show that about 13 percent of Americans bought cryptocurrency during the past year and many experts expect that number to increase. Like stocks, digital currency fluctuates considerably in value. This can make it especially difficult to value and divide in a divorce case. Furthermore, because Bitcoin and other cryptocurrencies are not held in a bank account like traditional currency, crypto is a popular vehicle for hiding assets during divorce. If you or your spouse have invested in cryptocurrency and you plan to divorce, an experienced divorce lawyer can help.
Determining the Value of Crypto
One of the most important aspects of a divorce is the division of marital assets and debts. Before spouses can negotiate a property division arrangement, they must take stock of what they own and owe. Valuing cryptocurrency for the purposes of asset division during a divorce is tricky. The value of a crypto investment when a spouse initially filed for divorce may differ dramatically from the crypto’s value several months into the divorce process. One option is to include a volatility formula into the property division agreement. Couples must also consider the tax consequences associated with the distribution of cryptocurrency and other assets during divorce.
Can Infidelity Influence the Outcome of My Divorce?
Studies show that cheating is quite common – even among married couples. Marital infidelity is regularly named as a top instigator of divorce. If your marriage is ending because of an extramarital affair, you may have questions about how it will impact your divorce case. Is a spouse entitled to more of the marital estate if they were cheated on? Will a spouse be at a disadvantage during divorce if they committed adultery? Divorce laws vary from state to state, especially with regard to marital misconduct. Read on to learn about how infidelity can potentially impact a divorce case in Illinois.
Understanding Illinois Divorce Laws and Fault
Illinois law is constantly being updated. In 2016, the Illinois Marriage and Dissolution of Marriage Act (IMDMA), was modified to eliminate all fault-based grounds for divorce. When you seek a divorce in Illinois, you will only have one “ground” or reason available: Irreconcilable differences. Even if the divorce is a direct result of infidelity or another form of marital misconduct, this will not be stated anywhere in your divorce petition. Furthermore, marital misconduct is not typically a factor considered by courts when determining property division, spousal maintenance, child custody, or other divorce issues. That being said, there is still a chance that an affair could impact the divorce proceedings – especially if a spouse spent considerable money during the affair.
Can You Reduce or Increase Child Support in Illinois?
Child support payments are a major source of assistance for single parents. However, they can also represent a significant expense for the parent who is paying the child support. Illinois child support payments are calculated using a method that incorporates each parent’s financial instances. The payments are intended to be reasonably affordable while still providing the financial assistance the child needs. However, circumstances change and sometimes a parent needs to modify his or her child support order.
Child Support Modification
Every three years, the Illinois Department of Healthcare and Family Services Division of Child Support Services (DCSS) offers modification reviews to parents with child support orders. A modification review may also be granted if either parent’s financial circumstances have changed considerably, the current child support order does not address healthcare for the child, or either parent requests a modification review.
Is Your Child’s Other Parent Guilty of Parental Abduction?
When parents are divorced or unmarried, having a court specifying the allocation of parental responsibilities and parenting time is essential. Not only does a parenting plan ensure that parents understand their rights and expectations regarding parenting duties, it also provides valuable stability in the life of the child. If parents cannot agree on the terms of their parenting plan, the court will step in and make a decision on the unresolved issues for the parents. Whether parents reach a parenting plan agreement on their own or the court hands down a decision for them, parents are required by law to adhere to the plan. Failure to do so can result in charges for parental abduction.
What Is Parental Abduction?
From time to time, parents may mistakenly fail to comply with the provisions set forth in the parenting plan. A parent may forget to drop off their child for the other parent’s allotted parenting time or lose track of time. Minor instances like these do not constitute parental abduction.
Do I Have a Right to My Spouse’s Business in an Illinois Divorce?
One of the most consequential aspects of divorce is property distribution. The division of assets and debts can range dramatically in complexity. Younger couples who own little property will have a much easier time dividing their property during divorce. Asset division will be much more complicated for couples who own complex assets including businesses and professional practices. If your spouse owns a business or has business interests, the value of the business will likely be factored into any decisions you make about property division. Therefore, it is important to understand your rights.
Is the Business Part of the Marital Estate?
In Illinois, property in a divorce is classified as either marital property or non-marital property. Nearly every asset obtained by a spouse during the marriage is marital property. Assets acquired by inheritance or gift are the main exceptions. Property acquired before the marriage is typically classified as non-marital property. Both spouses have a right to an equitable share of marital property. Only the spouse who originally owned a non-marital asset has a right to that asset during divorce.
Four Signs That Your Illinois Marriage May Be Near Its End
Most people go into their marriage thinking it will be their one and only time down the aisle. Nobody plans to get a divorce, but statistics show that is exactly what happens to anywhere from 40 to 50 percent of couples who get married. For some people, divorce can come as a shock. However, divorce often does not just happen overnight; it takes months or even years of cumulative unhappiness and disharmony for most people to move toward getting a divorce. If you are unsure of whether or not it is time for a divorce, there are certain signs that you can look for that may mean a divorce is your best option.
Look for These Signs of Divorce
If you have been unhappy or distressed for some time, it may be time to look into how you can better your life and the lives of those around you. For many people who are unhappy with their marriages and have tried every effort to reconcile, a divorce may be the answer. If you are unsure of the right time for a divorce, here are a few of the most common signs that your marriage may be over:
122 South County Farm Road, Suite A-West, Wheaton, IL 60187
630-358-9029
From our office in Wheaton, Illinois, we serve clients throughout the Chicago area including but not limited to Winfield, Warrenville, West Chicago, Glen Ellyn, Naperville, Lisle, Downers Grove, Lombard, Oak Brook, DuPage County, Kane County, Will County, and Cook County.
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