Posted on June 10, 2021 in Divorce

When a couple decides to get married, they usually need to plan what type of wedding they will have. Will it be big or small, fancy or simple, expensive or inexpensive? When a couple decides to divorce, there is similar planning that may need to take place. Will the divorce be a costly one, drawn out with lots of disagreements and court hearings or will they be able to keep it fairly simple and inexpensive by working through issues together without the need for litigation?

Financial Issues in Divorce

Getting a divorce is expensive. Not only are there court and attorney fees to contend with, but in many cases, each spouse is going from living in a two-income household to a one-income household. Depending on living arrangements made after the split, at least one of the spouses has moved out of the family home into a new residence and has to purchase new furniture and necessary household items.

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 Posted on May 25, 2021 in Divorce

There is no denying that divorce will have a financial impact on most couples. Even if the divorce is a “friendly” one without disagreements about how the marital estate should be divided, each spouse will still have to adjust to going from a two-income household to a one-income home. Keeping that in mind, there are certain steps you can take to help alleviate some of that financial pressure and ensure you are prepared once the divorce process is complete.

How Much Money Do You and Your Spouse Have?

While this may seem like an obvious question, many spouses do not know the answer to that question, especially if the other spouse is the one who handled all the family finances. Make sure you know exactly how much you have in checking and saving accounts, retirement accounts, and any other financial accounts you have. It is also important to know how much marital debt you have, so find out the balance for any mortgages and equity loans, vehicle loans, credit card bills, etc.

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 Posted on May 18, 2021 in Child Custody

Summer is right around the corner and many people are planning their vacations. After a year spent in pandemic lockdowns and away from loved ones, widespread vaccinations and the lifting of COVID-19 regulations in many states means that many families are looking forward to visiting grandparents and traveling to destinations to just have fun again. While children often look forward to these trips, divorced parents sometimes suffer angst over them. The thought of their ex-spouse taking their child to another state – or even another country – can cause a great deal of anxiety, especially if the relationship between the parents is a contentious one.

In most parenting time situations, how one parent chooses to spend their parenting time with their child does not need to be approved by the other parent. However, if a parent wants to take the child out of state or out of the country, the parent is required to let the co-parent know of the plans and provide details about the trip.

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 Posted on May 11, 2021 in Division of Assets

When a couple has decided to divorce, part of that process involves dividing their assets and debts in an equitable manner. As you go through and list the assets you and your spouse have, one asset that you may overlook are any retirement accounts either of you may have. Illinois recognizes retirement funds accumulated during the marriage as marital assets, so they become part of the marital estate and are divisible in the divorce.

Dividing Retirement Accounts

The division of retirement accounts can be complex because of the federal and state laws and regulations that may apply. There is also the issue of ownership of the funds that are in the account. Any funds that were accumulated in a retirement account prior to the couples marriage is considered separate property and does not become part of the divorce settlement. It is only the funds that accumulated while the couple were married that are distributable. This is why it is important to have a skilled Naperville divorce attorney representing you, to ensure your best interests are protected.

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 Posted on May 04, 2021 in Divorce

Ending a marriage is never easy, even when you have decided that it is the best choice for you and your children. No matter the circumstances that brought you to this point, the divorce process is often a painful one and you may find yourself dealing with anger, stress, sadness, and even grief. While you work through the emotional issues of divorce, there are also legal issues that must be dealt with. Having a skilled Naperville divorce attorney looking out for your best interests is crucial during this time.

Choosing Your Divorce Attorney

Once you have made the decision to file for divorce, it is important to discover and understand what all of your legal options are. Some people do consider filing for divorce without an attorney, however, if you and your spouse have children, property, and/or debt, it is best to hire an attorney to handle the divorce for you.

It is also important to hire an attorney who specializes in divorces and other Illinois family law issues. An attorney who does not regularly handle divorce or child custody cases may not recognize certain common divorce or custody issues that could come up in your case and this could result in a negative ruling against you. Attorneys have areas of specialty just like doctors do. You do not want to go to an attorney who usually only handles personal injury cases or estate plans to handle your divorce.

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 Posted on April 28, 2021 in Child Custody

Child custody is comprised of two main components in Illinois. “Parental responsibilities” refers to a parent’s authority to make major decisions about the child. “Parenting time,” which used to be called visitation, is the time that a parent spends with their child. Many parents disagree about the allocation of parental responsibilities and parenting time. In some cases, a child custody evaluation is used to gather information about the situation so that the court can make an informed decision regarding child custody. In these cases, parents will want to do the following:

Cooperate With the Evaluation Process

For some parents, being the subject of a child custody evaluation can feel like their parenting skills are being called into question. Some parents may even feel like their love for their child is being questioned. Understandably, this can lead to strong emotions. It is important to remember that the purpose of a child custody evaluation is to gather information about the child’s best interests. You are not being accused of anything. It is best to cooperate with the child custody evaluator and remain respectful.

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 Posted on April 21, 2021 in Mediation and Collaborative Law

Getting divorced involves much more than deciding not to be married anymore. Most divorcing couples will need to address several issues before they can finalize their divorce and officially end their marriage. Spouses will need to decide how to divide their jointly held property and debts. Parents must create a parenting plan that describes the parenting time schedule and other important child-related concerns. Some couples will need to address spousal maintenance or alimony. One option for reaching an agreement about divorce issues such as these is family law mediation.

Advantages of Using Mediation to Resolve Your Divorce

Some couples voluntarily attend family law mediation to discuss divorce issues. Other couples are required to attend mediation by the court. During mediation, the mediator helps the couple negotiate the unresolved divorce issues and find common ground. The mediator uses his or her dispute resolution skills to deescalate emotional conversations and help the couple discuss difficult topics calmly and productively. The mediator’s ultimate goal is to help the couple reach a mutually beneficial agreement on the terms of their divorce so that they can avoid taking the case to litigation.

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 Posted on April 07, 2021 in Divorce

When a couple decides to divorce, they do not simply agree to end their marriage and walk away. They must address various legal issues, including asset and debt division, child custody, spousal support, and child support. These issues often become contentious. If spouses disagree on the terms of the divorce and cannot reach an agreement via alternative dispute resolution methods like mediation, the case may go to litigation. If you are planning to divorce, and you suspect that disagreements will arise, it is important to know what is involved in divorce litigation.

Resolving Divorce Issues Through the Court

Divorce dissolves a legal partnership, so every divorce involves a certain amount of court involvement. If a couple can reach an agreement on how to divide their property, assign parental responsibilities and parenting time, and resolve other divorce-related issues, the court involvement may be minimal. The couple must submit their agreements to the court and, unless there are major issues or the agreements are unconscionable, the court will approve the agreements. These agreements then become legally binding.

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 Posted on March 10, 2021 in Division of Assets

Thanks to the COVID-19 pandemic, online shopping is more popular than ever. Shoppers can purchase thousands of dollars of new items with a just few clicks - all from the comfort of their own home. Unfortunately, online shopping can sometimes develop into a full-blown addiction. Studies show that approximately 5-8 percent of Americans suffer from compulsive shopping or shopping addiction. If your spouse is a compulsive shopper, it is essential that you take steps to protect yourself and your finances during divorce.

Shopping Addiction Can Lead to Severe Financial Consequences

When most people hear the terms “addiction” or “addict,” they think of substance abuse or alcoholism. However, shopping addiction is a very real phenomenon that can have devastating implications. Individuals struggling with shopping addiction or compulsive buying disorder often recognize that they are spending much more than they can afford, but they are unable to stop the behavior. They may max out credit cards, sell items of great financial or sentimental value, or even resort to shoplifting to fulfill the compulsion. The financial and personal consequences of shopping addiction can be dramatic.

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 Posted on February 24, 2021 in Division of Assets

Owning your own business can be a rewarding career choice. However, being a business owner can significantly complicate the division of assets during divorce. If you or your spouse own a business, and you want to end your marriage, it is essential that you understand how business ownership is dealt with in an Illinois divorce. An attorney experienced in handling complex divorce cases can provide personalized guidance about your rights and responsibilities regarding business ownership.

Is the Business Considered Marital Property or Non-Marital Property?

When a couple marries, their property and debt usually becomes intermixed. Determining which assets and liabilities belong to the marital estate and which are owned by an individual spouse is often quite complicated. As a general rule, property, including businesses, acquired before the marriage are classified as non-marital property. The spouse who originally owned the asset retains the rights to that asset during divorce. Both spouses have a right to property obtained during the marriage. A non-marital business can become marital property if marital funds were used to finance the business. A business can also become part of the marital estate if the non-owner spouse contributed to the business’s growth or success.

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