Tag Archives: alimony

7 Tips for Achieving an Amicable Divorce in Illinois

Naperville amicable divorce attorneyWhen someone hears the word “divorce,” it typically has a negative connotation. The break-up of a marriage can be sad, but for some couples, going their separate ways is for the best instead of staying in an unhappy union. An amicable divorce is possible if both partners are willing to compromise on certain issues. If a child is involved, the parents can work together to come to agreements on what is in the best interests of their child. This is important for such issues as allocation of parental responsibilities and parenting time.

Practical Advice for a Healthy Divorce

The following tips can help a couple who are divorcing achieve the best possible outcome for all family members:

1. Do Not Let Your Emotions Rule You

There is no denying that divorce is an emotional time. However, allowing your emotions to get the best of you does not help the situation. A moment of rage is not worth losing parental responsibility or parenting time. Think twice before you say something you might regret, since your soon-to-be ex-spouse could use it against you.

2. Learn How to Compromise

The entire divorce process is a negotiation. Difficult decisions will have to be made about who gets what. This could include marital property, as well as allocation of parental responsibilities and alimony. A true compromise takes place when each person gains and loses something. For example, the parent who will have the majority of parenting time may wish to keep the house to ensure that the children will not be uprooted.

3. Control Jealous Feelings

You have to accept that your marriage is over. If your ex has a new love interest, being bitter or angry about this is not going to help you move on with your life. You do not have to be best friends with your ex, but you can still be civil to each other. This is especially important if you and your ex have a child together. Letting go of past resentments will help everyone transition to their new lives once the divorce is final.

4. Do Not Vent on Social Media

Airing your frustration or grievances on social media accounts is not a good idea when going through a divorce. Your ex may try to use negative comments or inappropriate photos you posted as a way to prove you are an unfit parent.

5. Do Not Make Children Take Sides

One of the most important tips for having an amicable divorce is keeping the children out of disputes as much as possible. Discussing matters in front of the children puts pressure on them to take sides. Children love both of their parents, so this can be particularly painful for them. Consider their feelings by putting yourself in their shoes.

6. Join a Divorce Support Group

A support group can help you deal with the rollercoaster of emotions that accompany the end of a marriage. Talking to people who are going through the same life event can be comforting and motivating.

7. Hire an Experienced Attorney

Even if you and your spouse are parting on friendly terms, it helps to seek legal advice in order to understand all of your legal requirements and complete the necessary paperwork and documentation. A law firm with experience representing divorcing spouses can point out any potential problems in your divorce agreement and advocate for your rights throughout the divorce process.

Contact a Wheaton, IL Divorce Lawyer

A divorce does not always have to be ugly or complex. It is possible for a couple to part ways in a respectful, friendly, and fair manner. Marital assets can be divided equitably, and child-related issues can benefit both parents while still being in the best interests of the child. The Andrew Cores Family Law Group has handled many different types of divorce cases. Find out how a knowledgeable DuPage County divorce attorney can help you achieve an amicable divorce by calling our office today at 630-871-1002 to arrange a free consultation.

Source:

http://womantribune.com/9-tips-amicable-divorce/

 

How Can a Business Owner Hide Assets During Divorce?

Wheaton divorce and hidden assets lawyerThere are many ways that spouses attempt to hide marital assets from their wives or husbands. Methods can be as simple as stashing cash in a secret safe deposit box or transferring funds to family members or friends with the intent to recover them once the divorce is finalized. Other methods are somewhat more complex, such as creating offshore bank accounts or asking an employer to delay a large bonus or salary increase until after divorce.

Not only does hiding assets affect the division of property during divorce, but it can also affect child support payments and alimony. A husband or wife that successfully conceals marital property can end up getting away with tens of thousands or even hundreds of thousands of dollars that would have otherwise been distributed to their spouse or used for child support.

Business owners are at a great advantage when it comes to hiding assets during divorce, because there are dozens of ways that significant assets can be concealed. In many cases, a person may attempt to devalue the business, which is the same as stealing money from their spouse.

Unlawful Methods of Devaluing a Business

Small businesses do not always have small profits. In fact, 49 percent of full-time business owners have sales between $100,000 and $1 million per year. Some methods that business owners may use to attempt to reduce the value of their business include:

  • Failing to Report Cash Payments—A business owner that receives cash may hide these unreported earnings in a safety deposit box or a secret bank account.

  • Creating a Fake Employee—A spouse may pay a salary to an employee that does not exist, with plans to void those paychecks at a later time.

  • Prepaying Expenses—A business owner may make payments in advance for certain expenses, such as employee benefits, office supplies or furniture, or raw materials, with the intent of reducing the business’s bottom line.

  • Overpaying Taxes—A spouse may pay more in taxes than is actually owed, in hopes of receiving a large refund after the divorce has been finalized.

  • Welcoming Debts—A business owner may allow clients to defer payments until after the divorce is finalized in order to reduce the income earned by the business.

Reach Out to a DuPage County Hidden Asset Attorney

Do not let your spouse cheat you out of your fair share of marital property or use unlawful methods to reduce their child support or spousal maintenance payments. Hold them accountable by hiring an experienced divorce attorney. Here at the Andrew Cores Family Law Group, our attorneys are skilled at uncovering hidden assets, and we will ensure that you receive the marital property and financial support you deserve. Call our Wheaton divorce attorneys today at 630-871-1002 to schedule a free consultation.

Sources:

https://www.forbes.com/sites/jefflanders/2012/11/14/what-are-the-consequences-of-hiding-assets-during-divorce/#7bde61b7190c

https://www.businessknowhow.com/money/earn.htm

 

What Factors Are Considered When Determining Alimony in Illinois?

DuPage County spousal support lawyerAlimony, also called spousal support or maintenance, is a payment from the higher-earning spouse to the lower-earning spouse during divorce or after the divorce has been finalized. There are various forms of spousal support, and these may be awarded based on the needs of the lower-earning spouse and the means of the higher-earning spouse to pay. A few examples of types of spousal support include reimbursement alimony, lump-sum alimony, rehabilitative alimony for vocational training or education, temporary alimony paid during the divorce, and permanent alimony.

In most cases, alimony is not permanent; instead, it is set for a specified length of time and, after that time period ends, the payments will cease. As a potential paying spouse or receiving spouse, you likely have questions about how the court makes a decision about alimony, or how both parties may reach a mutual decision about alimony outside of the courtroom. A skilled DuPage County spousal support attorney can provide all the details you need to know and assist you in reaching an outcome that provides for your financial needs.

How The Court Awards Alimony

According to Illinois statute 750 ILCS 5/504, the following factors are used to determine whether maintenance is appropriate:

  • The income and property of each party
  • The needs of each party
  • The future earning capacity of each party
  • Any potential impairment of the spouse seeking alimony
  • The time necessary for the alimony-seeking spouse to acquire training, education, employment, etc.
  • The standard of living established during the marriage
  • The length of the marriage
  • The age, health, occupation, vocational skills, etc. of each party
  • Other forms of income earned by each party, such as disability
  • The tax consequences of alimony payments for each party
  • Any contributions and services made by the spouse seeking alimony on behalf of the higher earning spouse, such as career advancement and homemaking
  • Any other relevant factors

If the court determines that an alimony award is appropriate, statutory guidelines will be used to determine the amount and duration of spousal maintenance payments. The amount of payments will be based on the income earned by both parties, and the length of time payments will be made will be based on the length of the marriage. However, if the spouses earn a combined gross annual income of $500,000 or more, the court may deviate from these guidelines and award maintenance that it believes is appropriate.

Does the Spouses’ Sex Have Anything to Do With Alimony?

Alimony should never be awarded based on the sex of divorcing spouses. However, middle-aged, married men with at least a high school diploma earn, on average, over $80,000 per year. Married women of the same age earn, on average, roughly $50,000 per year, which is a 40 percent difference. As such, men are more likely to pay spousal support than women. This is a generalization, not a rule; 38 percent of wives earn more than their husbands. In these cases, alimony may be awarded to the husband.

Our DuPage County Alimony Lawyers Can Help

Spousal support is a powerful tool that can provide a lower-earning spouse with a means to education and allow them to maintain the standard of living they have grown accustomed to. On the other hand, as a paying spouse, you likely want to limit the impact that alimony payments will have on your own financial well-being. In either case, the skilled Wheaton spousal support attorneys at Andrew Cores Family Law Group can advocate for your interests and help you reach a positive outcome to your divorce. Call us today at 630-871-1002 to schedule a free consultation.

Sources:

http://www.ilga.gov/legislation/ilcs/documents/075000050k504.htm

https://www.marketwatch.com/story/married-men-earn-more-than-single-or-married-women-and-single-men-2018-09-19