Recent Blog Posts
High Asset Divorce Tips
Posted on October 18, 2023 in High Asset Divorce
Having a high marital net worth can be wonderful. Spouses who have less financial stress often do better. However, it takes much more than good financial health to make a marriage work. People with high net worth can and do get divorced frequently. Having a large amount of valuable assets to divide is often a factor in complex divorce. The more assets you have, and the harder to divide those assets are, the more complicated your divorce is likely to be. Many couples who have managed their finances strategically have property like stock holdings, real estate investment properties, and retirement savings. Some even built up their net worth through a professional practice or a family business. If you and your spouse share complex or valuable assets, it is important to involve an attorney who is experienced with these legally challenging divorces.
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Is My Prenuptial Agreement Valid?
Posted on October 12, 2023 in Prenuptial Agreement in Illinois
Not all prenuptial agreements are enforceable exactly as they are written. Some prenuptial agreements might not be enforceable at all. If you are getting divorced soon and you signed a premarital or postmarital agreement, you might be wondering how this contract will affect your divorce. While most agreements a couple chooses to include in their prenuptial contract will be enforced, there are some agreements that are not legal. If a certain term in your contract violates Illinois law or public policy, that term might be disregarded. In other cases, the entire enforcement is invalid because one party was coerced or forced into signing. If you have questions about whether your prenuptial agreement will be used in your divorce, it is important to consult an attorney before filing.
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How is Debt Divided in an Illinois Divorce?
Posted on October 05, 2023 in Marital Property
A couple’s debt must be divided fairly during divorce, but fair does not mean 50/50 in all cases. Debt is a fact of life for a rather large portion of Americans. Few people can honestly say that they are entirely debt-free. Most people have a car payment, a student loan, a mortgage, or credit cards they have needed to make ends meet. When a marriage ends, the marital debt must be divided just like the marital assets. There is a lot that goes into determining which spouse is responsible for which debt. Even if a credit card or loan is only in one spouse’s name, it could be considered marital debt depending on the circumstances. As dividing debt in an Illinois divorce can be highly complicated, it is very important that you speak to a qualified Illinois divorce attorney. An attorney can help you understand how your debt may be divided based on your personal situation.
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Strategies for Dividing Complex Assets
Posted on September 27, 2023 in DuPage County Divorce Attorneys
Some assets can be split into two equitable parts rather easily. For example, if you and your spouse share a savings account, it is simple for each of you to move a share of the funds into your own separate accounts once it has been established how the money should be divided. Other more complex assets are not so easy to divide.
For some assets, like a stock portfolio, the difficulty in dividing the asset is in valuing it. For other assets, such as the marital home, the challenge is that the asset literally cannot be divided at all and another strategy must be used. Often, the challenge is that the spouses are unable to agree as to what type of split would be fair.
An attorney can help you find the ideal strategy for dividing these complex assets. All marital property must be divided equitably in an Illinois divorce.
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Unique Options for Co-Parenting After Divorce
Posted on September 21, 2023 in DuPage County Divorce Attorneys
Parents who are getting divorced must create a parenting plan. A parenting plan covers things like when the child will spend time with each parent and which parent has the right to make important decisions about the child’s upbringing. The most common co-parenting arrangement involves each parent having designated parenting time to spend with the child in their individual household. While this tends to work well for many if not most divorced parents, it is not the only option.
Many parents hesitate to get divorced at all for fear that they will spend far less time with their children. There are several unique and creative strategies for parents who want a different way to co-parent after divorce. These strategies will tend to work best for parents who are able to remain amicable, as they require a higher degree of cooperation between parents. An attorney can help you assess which methods of post-divorce co-parenting are likely to be best for your family.
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What to Do Before You File for Divorce
Posted on September 15, 2023 in DuPage County Divorce Attorneys
Filing for divorce is the first step in the legal process of ending a marriage. This usually means having an attorney draft an initial divorce complaint and submit it to the court. Although doing so starts the official legal process of divorce, it may not be the first step you must take when you make the decision to pursue divorce. In many cases, it is prudent to take a few steps prior to filing in order to ensure that you are as ready as possible.
No two couples’ divorce journey will look exactly alike. You may need to take steps most sets of spouses would not need to worry about, or you may be able to skip a step many others would normally need to take. If your divorce is amicable, you may not need very extensive preparation. If your divorce is very contentious, more extensive preparation may be prudent.
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What Is the Purpose of a Prenuptial Agreement?
Posted on September 15, 2023 in DuPage County Divorce Attorneys
A prenuptial agreement, or “prenup,” is a legal document signed by a couple before marriage that specifies how assets and other issues will be divided in the event of a divorce. Prenups are helpful to protect the interests of both spouses by outlining certain expectations. You can hire a family law attorney to ensure that your prenup is enforceable and will work to protect you and your best interests.
What Are the Advantages of a Prenuptial Agreement?
A prenuptial agreement helps partners to talk about their expectations right away. Discussing finances can help couples understand one another's obligations and debts better. Those with high-value assets or business interests will benefit the most from a prenuptial agreement.
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What is a Complex Divorce and What Can I Do To Prepare?
Posted on September 07, 2023 in Divorce Procedure
A divorce with spouses who experience high conflict or who have a high net worth is known as a complex divorce. While many argue that any divorce is difficult, this type of divorce follows unique criteria that make things especially complicated for all parties. But with the help of a seasoned divorce attorney, you can settle your divorce more effectively and favorably, whether it is complex or not.
Is a Complex Divorce Uncontested or Contested?
A complex divorce can be either contested or uncontested. Most people think of ex-spouses at odds when there is a contested divorce, but that is not always the case. Sometimes, it is a simple disagreement between both parties based on the distribution of assets, finances, parenting time, or alimony.
A complex, uncontested divorce is when a few complicated factors are at play, but both parties agree on how the divorce should be handled. Here are a few elements of a complex divorce to keep in mind:
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What Should I Include In My Postnuptial Agreement?
Posted on September 06, 2023 in Postnuptial Agreements
Sometimes, marriages fall apart. Divorce can be costly, with major challenges for both parties. Although divorce is something you do not see coming, you can prepare beforehand. The legal paperwork of a postnuptial agreement can give you and your partner the security and peace of mind you need. This agreement can allow you to tackle many financial and personal problems before they happen. With the help of a knowledgeable family law attorney, you can ensure that your postnup is legally binding and protects both of your interests.
What Should I Add to My Postnup?
Marriage is when the lives of both people come together completely. With divorce, the process is just as intimately involved, but it is a separation. If you have been married for years, the process can be messy. But with a postnuptial agreement, many factors are already put in place regarding separation. Here are a few areas of divorce that you should add to your postnup for a simpler and less stressful divorce:
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Can Grandparents Get Visitation Rights in Illinois?
Posted on August 30, 2023 in Family Law
Grandparents hold a special place in their grandchildren's lives. Their presence often offers love, support, and guidance, which helps to create a strong family bond.
In Illinois, grandparents do have the right to seek visitation with their grandchildren. However, the law does not guarantee grandparents visitation rights. Grandparents must first prove to the court that visitation is in the child’s best interests.
Speaking with a family law attorney is a great step toward handling concerns regarding grandparent visitation rights.
What Factors Are Considered When Determining Grandparent Rights?
There are a number of factors that the court will consider when making a decision about grandparent visitation. These factors include the following:
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