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DuPage County divorce and investments attorneyOn Monday, March 16, 2020, the Dow Jones saw its worst point drop in history. The coronavirus continues to stir up a volatile market, causing gains from the last three years to disappear completely in a matter of weeks. Especially in cases of complex divorce, this could mean significant losses to you and your former spouse’s investment and retirement accounts, which are tied to these plummeting markets. To help alleviate losses, there are some strategies you should consider when drawing up your divorce decree and figuring out how to divvy up these accounts.

Planning Your Divorce Around a Volatile Stock Market

There is no way to predict the future, and there is certainly no way to know for sure what will happen in the stock market in the days, weeks, and years to come. While the common belief is that everything tends to stabilize over time, it is difficult to see this when faced with market nosedives like those taking place lately. Regardless, here are some tips to consider during divorce when deciding how you will safeguard your investments and retirement accounts against these market downturns:

  • Understand Cost Basis of Stocks—The original purchase price of a stock—that is, the amount of money originally paid to attain the stock—is considered the “cost basis.” Overall, when divorce attorneys and judges help you and your former spouse determine what is “equitable” in Illinois in terms of dividing up the investment accounts, they are looking at the cost basis of each investment. Due to this, you will want to take a closer look at which investments your partner wants to take or which investments are being assigned to you. In some cases, you could face a huge tax bill due to appreciation, or you might receive some stocks that are nowhere near their “cost basis” value anymore.

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DuPage County divorce decree enforcement lawyerAfter your divorce is complete, your marriage will be legally dissolved, and you and your ex-spouse will go your separate ways. However, you may still be required to remain in contact with each other, especially if you have children together. In some cases, the enforcement of court orders may be necessary if one party does not meet their legal requirements. If your ex-spouse violates your divorce order, you may be able to take legal action against him or her.

Factors That Influence Court Orders

Allocation of parental responsibilities, child support, spousal support/maintenance, and division of property are some of the most common topics addressed in a divorce decree. The final decisions on these issues may have been made using negotiation, mediation, or collaborative law, or some decisions may have been left up to the judge. Regardless of how these matters were settled, upon the finalization of the divorce, the terms of the decree become a court order that both spouses are required by law to follow.

There are a wide variety of circumstances in which a person may violate a divorce order. One spouse may refuse to give up property that was granted to the other spouse, a person may not make required support payments, or a parent may not follow the parenting time schedule in the former couple’s parenting plan. In these cases, you may be able to file a petition to have your ex-spouse held in contempt of court. However, it is often a good idea to first discuss the issue with your ex-spouse, since a violation may have occurred because of an unintentional act or a misunderstanding.

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Posted on in Order Enforcement

order enforcement, Wheaton family law attorneyIf you have a divorce decree, parenting plan agreement, or spousal or child support order in place, it can be incredibly frustrating – even infuriating – when your former spouse or partner does not live up to his or her part in the agreement or court order. Fortunately, an experienced family law attorney in Illinois can help you seek compliance from your ex.

When Your Ex Refuses to Comply or Cooperate with a Court Order

The entire purpose of going through the initial settlement or litigation process was to obtain an official arrangement so that all parties can move forward. Yet, when one spouse or partner refuses to comply, it can make all the previous time and expense spent finalizing the divorce or parenting plan seem wasted. This, however, is not the case.

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Posted on in Child Custody

child custody case, custody hearing, DuPage County child custody lawyer, military divorce, divorce decree, child custody cases, custody disputeService members in the U.S. military often experience extra strain on their marriages due to the stress of military life, especially during long deployments. Research by the RAND Corporation reveals that the military divorce rate exceeds the civilian divorce rate, and the risk rises higher with each successive deployment. However, a recent child custody case in Washington state revealed that the issues with divorce and deployments do not end once the divorce decree is finalized. A naval service member was issued a warrant for his arrest when he failed to show up for a custody hearing that his ex-wife had scheduled while he was deployed.

The Washington Case

The Washington case centered around a Washington-based submariner who was currently on deployment in Michigan. The submariner had primary custody of his daughter, and had left the daughter in the care of his new wife while he was deployed. The man's ex-wife filed a petition to change the custody order while he was serving in Michigan. The submariner naturally failed to appear, and the judge, who was unaware that he was currently deployed, issued a warrant for his arrest. Once the judge was made aware of the submariner's deployment, all proceedings were properly postponed.

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