Posted on October 08, 2019 in Division of Assets

Spouses who are getting divorced can, and often do, fight about virtually anything, but issues involving money are often among the most difficult to resolve. This can be especially true if one or both spouses have substantial wealth or high net-worth. However, planning is important for divorcing couples, no matter how much money they have. If you and your spouse are considering a divorce, there are some things you can do to protect yourself and your assets.

Gather Relevant Information

When you were getting married, you probably did not wait until a week before your wedding to start looking for a caterer or venue for the reception. Unfortunately, many people approach divorce in exactly this way. They do not do anything about the situation until their spouse actually files the petition for divorce.

It is a good idea to start preparing as soon as divorce becomes a real possibility. There is absolutely no harm in getting financial information together. Most experts recommend going back about five years and gathering as much as you can, including account statements, transaction receipts, tax returns, credit card bills, investment paperwork, and any other items that could provide details about your finances. If you are unsure about a particular document, keep it just in case. Make copies of everything and have them available for your lawyer and the court once the proceedings get started.

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 Posted on September 30, 2019 in Prenuptial Agreements

For many years, prenuptial agreements were largely considered to be necessary only for the super-rich. Today, however, more and more couples are considering using agreements like these. In fact, according to a survey conducted by the American Academy of Matrimonial Lawyers, more than half of family lawyers who responded said that they had seen an increase in requests for prenuptial agreements from the generation known as “millennials” (roughly aged 18-34).

There are a number of reasons why millennials might see fit to use prenuptial agreements, including the fact that they are getting married for the first time at a higher average age compared to previous generations. This means that they generally have more time to accumulate assets, debts, and other obligations before getting married.

If you are soon to be married and you are considering a prenuptial agreement, there are five good reasons why such an agreement might be a good option:

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 Posted on September 23, 2019 in Child Custody

If you are a parent who is considering a divorce, there is a good chance that you probably worried about how your divorce will affect your children. While you most likely realize that children are resilient and able to adapt, it is understandable that you might have fears about how your kids will handle your divorce and the related concerns.

One of the best things that you can do for your children is to commit to cooperating with your ex-spouse when it comes to child-related issues. Cooperative parenting—also called co-parenting—starts with a comprehensive parenting plan. A parenting plan is also required under Illinois law for divorcing parents who wish to share parental responsibilities. Your parenting plan must contain provisions for dividing decision-making authority, each parent’s days with the children, and other important matters. It must also address whether one or both parents will have the right of first refusal for extra parenting time.

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 Posted on September 18, 2019 in Child Support

Many parents do not realize the amount of money it actually takes to raise a child. When child support payments become a part of your monthly expenses, you may find yourself in a financial predicament. Child support is designed to help a child with unmarried or divorced unmarried parents to enjoy the same quality of life that he or she would have with married parents. In Illinois, child support amounts are determined by analyzing each parent’s income, employment, health, and other factors. If you cannot afford your court-ordered child support, read on to learn about what your next steps should be.

Never Stop Child Support Payments Without Notification

Illinois takes child support nonpayment very seriously. If you cannot afford your child support, never simply stop payments. Missing payments or paying only partial amounts can result in significant negative consequences. Parents who fail to pay their support payments in Illinois can have their wages or bank accounts garnished, tax returns intercepted, a lien placed against their property, and their driver’s license suspended or revoked. In severe cases of child support nonpayment, parents can face passport denial and even criminal prosecution. Parents who own $5000 or more in past-due support can also have their name and photograph posted on the “Illinois Deadbeat Parent” website.

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 Posted on September 09, 2019 in Child Custody

When parents get divorced and wish to share custody of their child in Illinois, they are expected by the court to create a parenting plan. This plan outlines how parental responsibilities will be shared as well as how decisions about the child’s upbringing will be made after the divorce is finalized. There are certain elements of a parenting plan that are required under Illinois laws, but many experts suggest including other aspects of childrearing in the plan as well.

If you are considering a divorce, it is a good idea to learn about what you must include in a parenting plan. A qualified family law attorney can help you make your parenting plan the foundation of a healthy co-parenting relationship.

Requirements for Illinois Parenting Plan

At a minimum, a parenting plan in Illinois must include:

• A designation of the parent who will have the majority of parenting time (custodial parent);

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 Posted on August 28, 2019 in Annulments

The concept of having a marriage annulled is one that is shrouded in confusion. Many people do not understand when annulment is a possible, or they assume that anyone can have their marriage annulled. In Illinois, an annulment is called a “Declaration of Invalidity of Marriage.” There are strict rules which dictate when a person can get their marriage invalidated, and only a small percentage of individuals qualify for annulment. Read on to learn about the annulment laws in Illinois as well as what to do if you need to end your marriage.

The Difference Between Annulment and Divorce

When a person gets a divorce, their marriage is ended. However, annulment does not end a marriage, it actually nullifies the marriage entirely. A couple who has had their marriage annulled makes it so that it is if the marriage never happened at all. In the eyes of the law, an annulled marriage never took place.

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 Posted on August 06, 2019 in Child Custody

When parents get divorced or unmarried parents have a child together, there are often disagreements regarding issues of child custody and visitation. In Illinois, child custody is called the “allocation of parental responsibilities” and visitation is called “parenting time.” If you and your former spouse or partner have disputes about parenting time or parental responsibilities, you may require court intervention to help solve these problems. Illinois family court judges sometimes appoint a specially-trained attorney to help when parents have disputes regarding children. Typically, the attorney serves in one of three roles: child representative, attorney for the child, or guardian ad litem. Read on to learn more about the most common of these specially-trained attorneys, a guardian ad litem.

What Is the Purpose of a Guardian ad Litem?

Courts generally appoint a guardian ad litem (GAL) to represent the interests of a child, infant, unborn child, or other person who cannot advocate for themselves. The job of a GAL in a child custody case is to protect the legal rights of the child or children involved in the dispute. He or she will investigate the lives of each parent and anyone else relevant to the case. This may include interviewing parents and other parties, as well as visiting the child’s home and school and reviewing relevant documents. The GAL will then use this information to make a recommendation to the court about what he or she thinks is the best course of action moving forward.

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 Posted on July 23, 2019 in Child Support

If your child’s other parent has been convicted of a crime and is in jail or prison, you may have dozens of concerns, including worries regarding child support. When an individual is incarcerated, their financial obligations are usually still considered valid. This includes child support payments. Read on to learn about how incarceration can affect child support payments as well as what to do if you are not receiving court-ordered child support.

Parents in Jail Are Still Responsible for Child Support

When a judge orders a parent to pay their child’s other parent child support, that requirement is generally intended to last until the child is an adult. A child’s financial needs do not stop just because a parent is incarcerated. If your child’s other parent in in jail, he or she is still responsible for his or her court-ordered child support payments. However, the parent may be able to petition the court for a temporary modification of their child support obligation.

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 Posted on July 15, 2019 in Divorce

Former NBC news anchor Matt Lauer’s wife of 20 years has formally filed for divorce. The couple is seeking an uncontested divorce, but many factors will likely complicate and possibly draw out the split. Lauer is estimated to have made over $100 million during his tenure at NBC, and the couple has invested much of this money into extravagant real estate purchases. Not only is the couple quite wealthy, but they have also been married for two decades and have three children together.

Couples who divorce after a long marriage often experience a much different dissolution process than couples who have had short marriages. If you are considering ending your long-term marriage, there are several considerations you should keep in mind.

You or Your Spouse May Be Eligible for Spousal Support

Spousal support, also referred to as spousal maintenance or alimony, is not awarded in every divorce case. Illinois family courts consider many factors when determining whether or not spousal support is appropriate. These factors include but are not limited to:

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 Posted on July 10, 2019 in Child Custody

If you are a parent who is considering ending your marriage, you probably have many concerns related to your children. You may worry about how you children will take the news of the divorce or how you and your spouse will share custody of the children after the split. If you and your soon-to-be-ex spouse plan to have joint custody of your children, you will need to learn how to share parental responsibilities in a way that prioritizes your children’s best interests. It can take hard work and humility, but the good news is that effective co-parenting after divorce is possible.

There Is Not Just One “Right” Way to Co-Parent

Just as every marriage is unique, every divorce is unique. Sometimes, a married couple breaks up and there are almost no feelings of bitterness or hostility between the former spouses. Other times, a divorce is wrought with conflict and spite. The way you co-parent will largely be determined by the relationship you have with your children’s other parent. If you and the other parent are able to easily communicate about child-related plans and concerns, you may be able to have a more casual co-parenting arrangement. However, if you and your children’s other parent struggle with productive communication, you may want to make firm parenting plans and decisions in advance.

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