Posted on January 23, 2023 in Property Division

 Divorce can be demanding and taxing, especially when there is suspicion of hidden assets. The main reason someone would consider hiding their assets and finances during a divorce would be to minimize any financial losses that a spouse may suffer due to the split. 

Having a divorce attorney by your side can help you uncover important documents and financial records so your divorce settlement is based on accurate financial information. While a spouse may be able to ask for these things alone, there is no guarantee that they will be given truthfully. An attorney can request these documents using discovery tools such as subpoenas and requests for production. If the spouse does not comply or hides anything, they can risk serious consequences. 

Common Ways Spouses Hide Assets

It is not always easy to spot when a spouse may be hiding assets. The following may be signs that a spouse is hiding assets or lying about income during divorce: 

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 Posted on January 18, 2023 in Property Division

Illinois is an “equitable division” state, meaning that marital property and debts divided by the court do not need to be divided equally, but rather the law requires that it be divided equitably. Property division may be negotiated and agreed upon by the spouses or decided in court. While the division of assets does not need to be equal, it should be fair, regardless of marital factors such as who was the household provider or who purchased what. 

Marital Property vs. Non-Marital Property 

When evaluating assets, divorcing spouses may be able to divide their assets into two categories: material property and non-marital property. Assets that are considered marital property are all things that were acquired during the marriage and before the couple was legally separated. Assets considered non-marital property are all things acquired before the couple was legally married. Assets appointed through inheritance or gifted during a marriage can also be considered non-marital property. 

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 Posted on January 12, 2023 in Uncategorized

 Divorce is different for every couple. An uncontested divorce involves both parties agreeing on divorce issues like property division and child custody. However, the many divorces are not this simple. Contested divorces are more difficult. The spouses do not agree on how to resolve divorce issues and the divorce may including complications such as custody disputes, high-value assets, and business ownership. In general, here are some concerns to look for that make your divorce far more complex.

Complex Factors To Look Out For

• Child-Related Issues - If you have children, this will complicate the divorce. The focus will revolve around who will be the sole caretaker for the child, parenting time rights, and who will pay child support. Child support payments may lead to questions about who will pay for the expenses of the child, such as potential medical bills or college tuition. The best case scenario to make these decisions less complex will be for the couple to create a parenting plan. This will help the couple decide what is not only in the best interest of the child but for both of the parents as well. Of course, even with a parenting plan, the ultimate decision will be approved by a judge whose main interest is in the child’s well-being. 

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 Posted on January 06, 2023 in Divorce

 Divorce can be a difficult subject to tackle. Whether there are children involved, or simply shared finances, there are many obstacles that must be worked through. In the state of Illinois, there is no mandatory waiting period for divorce. As long as the petitioner has been a resident of Illinois for at least a minimum of 90 days, then it should be relatively simple to file for divorce. Illinois recognizes the grounds for divorce as no-fault, this means that a marriage has reached an irretrievable end. However, many things may lead to delays when finalizing a divorce. Whether it be the separation of finances, child-related factors, or your spouse prolonging the separation for their reasons. It is important to be patient and allow an experienced divorce attorney to help navigate you through this complex process. 

Types Of Divorce and How Long They Can Take

There are many variations of divorce. The best way to know how long your divorce may take is to determine what type of divorce you are going through. Doing this will help you approximate how long your divorce will take and the different factors it will entail.

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 Posted on December 27, 2022 in Divorce

Formal court proceedings are not always the desired way to resolve a divorce case, but the good news for people wanting to keep cases out of court is that alternative dispute resolution (also known as ADR) may offer a solution. The general idea of ADR is to allow people a more cost-effective and less confrontational manner of resolving their divorce disputes.

Four forms of ADR are available in Illinois, although two are more common than the other two. Legal representation may be required for certain forms of ADR, but you should always be sure to consult with a skilled Naperville divorce lawyer before you agree to enter any form of ADR.

Mediation, Arbitration, Collaborative Law, and Pre-Trial Settlement

The main types of alternative dispute resolution available in Illinois divorces are mediation, arbitration, collaborative law, and a pre-trial settlement conference. 

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 Posted on December 20, 2022 in Divorce

In the olden days, people who were filing for divorce could blame their spouse for the breakdown of the marriage, possibly filing for divorce under such grounds as infidelity, cruelty, or other acts. As of 2016, however, Illinois is now entirely a no-fault divorce state under Public Act 099-0090.

Under Illinois law now, people can only base their decision to divorce on “irreconcilable differences,” which is another way of saying that spouses can no longer get along despite repeated efforts to try and work things out. Under 750 ILCS 5/401(a-5), there is an irrebuttable presumption that the requirement of irreconcilable differences has been met when the parties live separate and apart for a continuous period of not less than six months immediately preceding the entry of the judgment dissolving the marriage.

Proving Irreconcilable Differences

Spouses living apart for six months proves that there are irreconcilable differences. The truth, however, is that spouses do not actually need to be literally living in separate homes to satisfy the requirement. Spouses may have to remain living together because of certain financial considerations or other factors, but may live in separate rooms and lead separate lives. 

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 Posted on December 05, 2022 in Divorce

 Retirement accounts and pensions can be major issues in many divorces because they can be the most valuable assets a married couple owns. 

The parts of retirement accounts that are classified as marital property will need to be addressed during divorce, and one spouse paying into a retirement account or pension during the marriage usually makes the retirement account or pension partially marital property. Retirement accounts can be complex assets to divide, so it is important to work with a skilled divorce attorney.

Retirement Plans and Your Ilinois Divorce

Retirement accounts include a wide variety of possible plans, including:

• Defined contribution plans

• Individual Retirement Account (IRA) plans

• 401(k) plans

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 Posted on December 01, 2022 in Divorce

As many of us prepare to enter 2023 with big plans for a new year and resolutions to do things differently, the one thing that can be common in many homes this time of year is a spouse seeking a divorce. January is sometimes called “divorce month” because the rate of divorce increases significantly at the start of a new year.

MarketWatch has reported that January sees lawyers getting a 25 to 30 percent increase in clientele. While many attorneys claim there is an inevitable increase in divorce applications after the holidays, the New York Times reported that the two most common months for spouses to split were actually March and August.

Divorces Are Commonly Initiated in January 

The reasons for divorce vary, but for many, the start of the new year offers a chance for a fresh start. People who have been stuck in difficult marriages for the past year or longer often want to seek something different.

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 Posted on November 30, 2022 in Divorce

The Centers for Disease Control and Prevention (CDC) reports that the number of divorces in the United States has actually declined over the past two decades, going from 944,000 divorces and annulments a yearto 630,505 a year. U.S. News and World Report further reported that Illinois had the fifth-lowest divorce rate in the country at 6.2 percent.

While many people are now of the belief that most marriages will begin with a 50 percent chance of divorce, many experts believe the divorce rate is lower than this. Unfortunately, there are still a multitude of reasons that a marriage can end these days. If you are planning to divorce, make sure to work with an experienced divorce attorney who can help you throughout the process. 

Common Issues in an Illinois Divorce Case 

While divorce might be becoming less common than it was 20 years ago, many people still deal with divorce issues like property division, child custody, and spousal maintenance every year. While the overall divorce rate has decreased, the over-50 population has seen a dramatic increase in divorce cases. Older people are divorcing at a much higher rate than the younger crowd. With age often comes increased financial resources, including complex assets like investments and real estate. Dividing property in a “gray divorce” often presents a unique challenge. 

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 Posted on November 23, 2022 in Property Division

Many people who have friends in other states who have gone through a divorce can are surprised to learn that property division during divorce varies from state to state. Community property laws dictate a 50-50 split of all marital property. Illinois is among the majority of states using equitable division laws as opposed to community property laws. Equitable distribution involves a fair but not necessarily equal distribution of marital assets.

Illinois law can be rather complex when it comes to determining the distribution of marital property, and a number of factors can influence court decisions in these cases. The value of property, the spouses’ earning capacity, and each party’s contribution to the marital estate can all be factors that dictate how property will be distributed.

How Equitable Distribution Applies to Your Divorce

Courts only utilize equitable distribution when divorcing spouses cannot negotiate an agreement regarding their marital property settlement. Equitable distribution will only apply to marital property, or the property that was acquired during the marriage. It does not include property obtained during the marriage by gift or inheritance, which is considered separate property.

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