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High Asset Divorce in Illinois

 Posted on June 28, 2024 in Divorce

IL divorce lawyerDivorce can be complicated regardless of the specific circumstances. When the couple has a lot of money and valuable assets, the complications can intensify. Everything that needs to be addressed in any other divorce is part of a high asset divorce, but since the values in question are so high, the stakes can feel even higher than usual. If you have a sizable marital estate and are contemplating divorce, speak with a knowledgeable Warrenville, IL high asset divorce attorney who can offer you tailored guidance on how to protect your interests.

Equitable Distribution in Illinois

When a couple gets a divorce in the state of Illinois, marital assets are divided according to what is known as an equitable distribution. That means that, unlike the equal distribution used in some states, the division of assets will be based on what the court considers "fair" based on each person’s needs and contributions to the marriage. Instead of splitting the value of all assets in half and giving each spouse an equal portion, the court will take into consideration several factors, including:

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What Can I Do If My Ex Stopped Paying Child Support?

 Posted on May 30, 2024 in Child Support

IL family lawyerParents are generally left to raise their children however they see fit unless there is any reason to worry that they are harming them. Married parents can make their own decisions about how they will pay for the many expenses involved in raising children and can figure out their own arrangements for the child’s accommodation without needing permission from anyone external.

This freedom to raise your children without input from others changes when you get a divorce. Suddenly, there are court-mandated schedules and payment plans to be followed. You might grow to expect that what is included in the divorce settlement is what will happen in reality,  and you might truly depend on monthly child support payments, budgeting around them. Unfortunately, sometimes one parent simply stops paying these without warning, which can leave the other parent scrambling to make ends meet. If your ex has suddenly stopped making their court-mandated child support payments, speak with a compassionate West Chicago, IL family law attorney who can explain your options for getting payments reinstated.

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Potential Reconciliation? Putting a Pause on an Illinois Divorce

 Posted on April 05, 2024 in Divorce

IL divorce lawyerOne of the most interesting and less commonly discussed topics of divorce is reconciliation. Couples fight and then make up all the time. Why should a married couple not be allowed to do the same? You might have thought your differences were truly irreconcilable, only to resolve your issues later on and put them behind you. What happens when the couple has already filed for divorce? In the state of Illinois, a couple can have their divorce withdrawn or paused if they decide they prefer to stay together. A qualified Warrenville, IL divorce lawyer can advise you on how you might want to proceed.

How Can We Pause Our Divorce?

If a couple has filed for divorce but both spouses think there is still hope to make amends, they have the option of putting their divorce on the reconciliation calendar. This means that their divorce proceedings are temporarily on hold, but this can only happen if both spouses request this and submit a reconciliation plan. This is a document that details how you and your spouse plan to examine whether reconciliation is possible.

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Why Should I Establish My Paternity in Illinois?

 Posted on March 23, 2024 in Family Law

IL family lawyerWhen a woman gives birth to a baby, the state of Illinois automatically recognizes her as the mother. If she is married to a man during the birth, her husband also gets automatic legal recognition as the baby’s father without needing to take a DNA test or prove it in any other way. If the mother is single when she gives birth, there is no one automatically recognized as the baby’s father. That means that if you are a single man who conceived a child, you are not considered the father unless you go through a process of establishing your paternity. Having your paternity legally recognized is a good idea for several reasons that can impact you, the baby’s mother, and even your baby. If you are going to be a father soon and you and the mother are not married, an experienced West Chicago, IL family attorney can help guide you through the process of establishing paternity.

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Should I Consider a Business Valuation Before My Illinois Divorce?

 Posted on February 21, 2024 in Divorce

Blog ImageThe division of marital assets and property that happens in a divorce is generally complicated to figure out. If either spouse owns a business, this is another matter that needs to be decided. Issues of ownership and business value will become important factors in any decision that will determine the fate of the business. If you or your spouse own a business, you should speak with an experienced Winfield, IL asset division attorney to see whether a business valuation might be a good step for you.

How Do Business Valuations Work?

When someone getting a divorce is a business owner, it is important to understand how ownership is determined. A business that was founded or acquired before the marriage is generally considered a non-marital asset and under the sole ownership of the spouse who founded or acquired it. If it began or was acquired once the couple was married or the other spouse contributed to the company, financially or otherwise, it might be considered a marital asset subject to division.

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How Can My Child’s College Expenses Be Handled in Illinois Divorce?

 Posted on January 19, 2024 in Child Support

Wheaton Divorce LawyerWhen most people think about the children involved in a divorce, custody battles and issues surrounding child support often come to mind. Familiar scenes from movies and TV tend to focus on parents fighting over where their children will spend the holidays and who will have them on their birthdays. The truth is, there is no one period of time when divorces happen. Some couples decide to get divorced not long after their wedding while others do so after spending years together. Some couples split up before they have kids, and others start the process when they are already grandparents. You might find yourself considering divorce when nursery school is a thing of your past and your children are applying for college. If you are worried about how your impending divorce might impact your ability to cover your child’s college expenses, an experienced Wheaton, IL, divorce attorney can help you understand your options and figure out a plan forward.

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Divorce Considerations for Someone Self-Employed

 Posted on December 18, 2023 in Divorce

Wheaton Divorce LawyerWhen one or both spouses are self-employed and getting a divorce in Illinois, it can make the divorce process more complex. Self-employed individuals face unique considerations when it comes to divorce, including the valuation of their business, determining income for child support and alimony purposes, and protecting business interests. If you are self-employed and getting divorced, contact a lawyer to assist you.

The Valuation of Your Business

One of the primary concerns for self-employed individuals during divorce is the valuation of their business. Determining the value of a business can be complicated, involving factors such as assets, liabilities, revenue, and future earning potential. It is crucial to enlist the help of a qualified business valuation professional who can provide an accurate assessment of the business’s worth. This valuation will play a significant role in the division of marital assets and potential spousal support

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If My Divorce is Uncontested, Why Do I Need a Lawyer?

 Posted on November 16, 2023 in Divorce

Winfield Divorce LawyerThere is a widespread belief that uncontested divorces are straightforward processes that require little to no planning and can be done without the guidance of legal professionals. This is a complete falsehood. While an uncontested divorce may feature less hostility than a traditional divorce requiring extensive litigation, even when both sides agree on the issues, as is true in uncontested divorces, having a qualified lawyer by your side is crucial. If you are approaching your divorce and believe it will be uncontested, here are the many reasons why you should still obtain the services of an attorney.

Traversing Legal Requirements 

Divorce laws and procedures vary from state to state. In Illinois, understanding and navigating these requirements can be challenging to near impossible without first having advanced legal knowledge of the procedures at hand. A lawyer is trained to guide clients through the entire divorce process, making sure all necessary legal requirements are followed appropriately. From correctly filling out various legal documents to filing them on time in the correct fashion, an attorney is specifically trained to complete such tasks. While these kinds of tasks may sound simple to complete, they are anything but.

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Why Do Some Spouses Dissipate Assets During a Divorce? 

 Posted on October 17, 2023 in Divorce

Winfield Divorce AttorneyDivorce can be a financially grueling process. Unfortunately, some spouses resort to dissipating assets for one reason or another. Dissipation of assets refers to the intentional waste, depletion, or reckless spending of marital property during divorce proceedings. If you are getting divorced and believe your spouse is dissipating assets, contact a lawyer to ensure the unfair and unnecessary practice of dissipating assets is recognized and dealt with in a legally appropriate manner.

Financial Motives

In Illinois, one of the primary reasons spouses dissipate assets is for financial gain. By depleting marital funds or hiding assets, a spouse may seek to secure a larger share of the remaining assets during property division. This greedy act of self-interest can be driven by a desire to gain a financial advantage or to punish the other spouse. It is crucial to note that these actions are not only unethical but can also have serious legal consequences.

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Do Uncontested Divorces Lead to Successful Co-Parenting?

 Posted on September 14, 2023 in Divorce

IL family lawyerDivorce can be a challenging and emotionally straining process, particularly when the people divorcing have children together. However, uncontested divorces have the potential to facilitate a smoother transition and help establish successful co-parenting dynamics post-divorce. Suppose you are a parent getting divorced and are looking to ensure you and your spouse can maintain a respectable co-parenting relationship once your divorce is complete. In that case, an uncontested divorce may be a logical step in making that goal a reality. Contact a lawyer to get the uncontested divorce process started.

Reduced Conflict and Enhanced Communication

Uncontested divorces involve couples who are able to reach agreements and resolve issues without litigation or intense courtroom battles. This approach often leads to reduced conflict and more effective communication between parents. Parents can establish a foundation of mutual respect and cooperation by working together to create important post-divorce documents such as a parenting plan and other co-parenting arrangements. It is through this foundation that parents can actively engage in the decision-making process regarding their children’s lives, taking into account the unique needs and preferences of their children. This allows parents to tailor custody arrangements, visitation schedules, and other aspects of co-parenting to ensure the well-being and stability of the children. 

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