Posted on August 29, 2022 in Divorce

High net worth couples are typically comprised of two partners who are driven, ambitious, and have a strong work ethic. Coupled with careful spending habits and excellent investment practices, these couples can accumulate substantial assets both before and during the years of their marriage. And while this can be a blessing in many ways, when a high-net-worth couple starts thinking about divorce, their asset portfolio may pose more problems than solutions. If you are considering divorce and are wondering what impact this could have on your financial well-being, here are some challenges to be aware of. 

Your Divorce Will Likely Take Longer

High net worth divorces generally take longer to complete because a large asset portfolio requires cautious, thorough handling. Couples must first determine how much of any given property is personal and how much is marital; generally, all property acquired during marriage with marital funds is marital. However, even private assets can be commingled with marital assets, sometimes requiring the need for complex asset tracing and valuation. 

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 Posted on August 22, 2022 in Divorce

During a marriage, each spouse’s money usually becomes inextricably connected with the other spouse’s. Research shows that most spouses combine their incomes, at least to some extent. Because money earned by either spouse during a marriage is considered marital property, the line between what is “yours” and “mine” can become blurred or nonexistent. 

However, this does not mean that spouses should be able to run roughshod over each other’s financial preferences and needs. Wasting money on gambling, drugs, or a shopping addiction can severely harm a family’s present and future financial health, and threaten to drive a couple to seek an Illinois divorce. And if a couple does decide to get a divorce, the process of dividing assets can become even more complicated when one spouse is wasting, or threatening to waste, marital assets. 

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 Posted on August 15, 2022 in Divorce

One of the reasons that people frequently cite for staying in unhappy marriages is the high cost of getting divorced. For homemakers or stay-at-home parents, this is especially true. When you do not have an income of your own and are worried whether inflation and a looming recession will make it impossible to make ends meet, divorce can seem like a pie in the sky. 

But you may be surprised to learn that Illinois law has provisions for ensuring unemployed spouses are not trapped in bad marriages forever because they cannot afford their own divorce attorney. If you are considering divorce and wondering whether there is any way to pull it off, read this blog and then schedule a consultation with an experienced divorce attorney. 

How Can I Get Divorced if I Am Unemployed? 

Illinois law views almost everything either member of a couple earns while married as marital property. With the exception of gifts and inheritances, money made by either spouse is money that belongs to both spouses. This means income, vehicles, and even houses that are bought during a marriage using marital money belong to both partners - even if only one spouse’s name is on the title. 

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 Posted on August 04, 2022 in Child Custody

Although most divorced parents in Illinois are eager to spend more time with their kids, a few parents are flaky or disinterested. While on the surface, this may seem like a great way for the other parent to get more time with the kids, in reality, it leads to frustrated plans and - even worse - disappointed children. If you are in this situation, you already know how hard it can be to deal with an ex who does not show up for his or her parenting time. The good news is that there are options for taking action. 

What is Parenting Time? 

Parenting time, formerly known as visitation in Illinois, is the schedule that describes each parent’s allotted time with their child. Usually, parenting time kicks in once a parenting plan has been established after a divorce, but parents who have never been married can create a court-ordered parenting plan as well. 

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 Posted on July 20, 2022 in Child Support

When parents divorce, it is standard for the parent with less parenting time to pay child support to help finance their children’s needs. Children have the right to be financially supported by their parents in Illinois. Most child support orders from the court end when the children involved turn 18 years old and become an adult. However, there are circumstances where child support payments are extended to non-minor children.

When is Non-Minor Child Support Required?

There are a few key reasons the court may require non-minor child support payments from a parent. Below are the three most common reasons that Illinois may extend child support payments for children over the age of 18.

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 Posted on July 17, 2022 in Divorce

It is normal to have many questions about the process when going through a divorce. There are two main types of divorces, and they differ in a few ways. An uncontested divorce refers to a divorce process that is amicable and communicative. A contested divorce, on the other hand, involves partners who are in disagreement over one or more divorce issues. Contested and uncontested divorces vary in a few ways, including duration and price. Here are five key differences between contested and uncontested divorces.

Communication 

The main difference between a contested and an uncontested divorce is the degree of productive communication between spouses during the process. During an uncontested divorce, both partners can express their desires for a divorce outcome and can agree on virtually every aspect of a divorce decree. For example, during an uncontested divorce, both spouses will decide on how property will be divided, who will retain permanent residence in the family home, and how child custody will be divided between parents. However, communication may be more difficult in an uncontested divorce. Sometimes, spouses only communicate through their respective attorneys. 

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 Posted on July 11, 2022 in Divorce

In an Illinois divorce, the state divides marital property in an equitable, fair fashion. Marital property is divided between the spouses based on many factors including their contributions to the marriage, financial resources, earning capacity, and needs. If one spouse receives the house after the divorce, the other may receive a more significant portion of the retirement account. However, what happens to personal belongings and family heirlooms during a divorce? Can a spouse be awarded the other’s personal belongings?

Shared Versus Unshared Property

Property division during a divorce is considered under the umbrella of two property types— shared and unshared. Shared items, also known as marital property, were obtained throughout the marriage, so both spouses have a right to the property. Non-marital property includes items purchased before the marriage or given to a partner before the marriage. Assets acquired through inheritance or gift are also separate property. 

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 Posted on July 05, 2022 in Uncategorized

When dealing with a divorce, it is not uncommon to come across a contentious spouse. The disagreements between two partners often lead them to feel contempt for one another and break down their ability to communicate and reach a mutual agreement. The inability to communicate is usually expressed during the divorce process — contested divorces can include a failure to agree on various elements of a divorce decree. However, a problematic spouse can also lead to a difficult ex-partner. Suppose your ex does not uphold their end of the divorce agreement, including failure to pay spousal support. In that case, they can be held legally responsible. 

Defining a Divorce Decree

A divorce decree, or a divorce agreement, is a legal document upheld in a court of law. In other words, spouses can not violate a divorce decree. Both spouses will be legally required to follow the orders defined in the agreement. In the case of spousal support payments, also known as alimony, partners must uphold the agreement dictated in the divorce decree. If a partner decides not to follow their requirements from the contract, they can be held in contempt of court for refusing to obey a court order. 

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 Posted on June 24, 2022 in Divorce

Making the decision to divorce your spouse is difficult. However, breaking the news to your children can become another hurdle. News of a separation, divorce, or breakup can be highly unsettling for children, especially young ones. Kids thrive off of routine and stability, making separation difficult for them to accept. If you are struggling to break the news of a breakup with your kids, here are ten tips that can help you prepare for a conversation. 

1. Meet with a Child Psychologist 

Many psychologists and therapists specialize in working with children. Having a licensed counselor working alongside your children as they go through a divorce can help a child process their emotions and healthily work through grief. A therapist can provide you with strategies for communicating with your children. 

2. Maintain a Routine 

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 Posted on June 17, 2022 in Divorce

 If you feel that your relationship with your spouse is ending, you may be ready to terminate your marriage. Choosing to divorce a spouse is not easy, and most partners conduct lots of research before making this life-changing decision. Spouses may look into the cost of divorce, how to divide shared property, and use testimonies from other divorced couples to understand the divorce process. However, just like each couple, every divorce differs in many ways. 

Contested and Uncontested Divorce in Illinois 

Divorces can come in many forms. The most common distinction between divorces is whether the process is contested or uncontested. In a contested divorce, spouses will disagree over an aspect or multiple aspects of the divorce outcome. For example, a contested divorce could include a husband and wife in complete disagreement over who will remain living in the shared family home. On the other hand, an uncontested divorce is typically collaborative, and the spouses work together to form a mutual divorce agreement. In an uncontested divorce, there likely won’t be much fighting or disagreement. 

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