Hinsdale, IL Divorce Attorneys

Lawyers for Property Division, Spousal Support, and More in Hinsdale, Illinois Divorce Cases

Ending your marriage can be a deeply personal decision. As you approach your divorce, you may experience both emotional and financial uncertainty. As you take steps to dissolve your legal partnership with your spouse, you will need to consider a wide range of issues related to your property, your finances, your children, and other aspects of your life. Whether your divorce is amicable or contentious, there are various complex issues that may need to be addressed. A knowledgeable divorce attorney can provide you with clear guidance and strong representation throughout the process.

At Goostree Law Group, our lawyers can provide critical support to clients in Hinsdale as they navigate the legal procedures involved in the end of a marriage. From filing the initial petition to negotiating a property settlement and resolving child-related issues, we make sure our clients' concerns are addressed correctly during the divorce process. With our understanding of successful negotiation strategies, experience in local courts, and a commitment to achieving positive outcomes for our clients, we can help find effective solutions to any disputes that may arise.

Understanding Property Division in an Illinois Divorce

During the divorce process, a couple will need to make many decisions about the division of their marital property. We work with clients to negotiate agreements that will divide property fairly. To ensure that all financial concerns will be handled correctly, we can help clients identify, classify, and value the various types of assets that may need to be addressed, including:

• The Marital Home: Real estate property owned by a married couple is often among their most valuable assets. In some cases, couples may choose to sell their home and divide the profits earned, or one spouse may take over sole ownership of the property. We help our clients assess factors that may affect these decisions, including where children will live and whether either party has the ability to maintain ownership of the home on their own.
• Retirement Accounts and Benefits: These assets may include 401(k) plans, IRAs, pensions, and other benefits or retirement savings. Our attorneys can help clients work with financial professionals to determine the marital portion of these accounts, and we can draft Qualified Domestic Relations Orders (QDROs) when necessary to divide assets without penalties or tax consequences.
• Personal Property: A couple may need to address assets such as vehicles, jewelry, household items, collectibles, and anything else they own. While some personal items may have sentimental value, others can carry significant monetary worth. When necessary, we can assist in inventorying and appraising different types of assets.
• Debts: Just as a couple's assets will need to be divided, so will marital debts. These may include mortgages, car loans, credit card balances, and personal loans. A fair division may be based on factors such as who incurred the debts and who benefited from them. We work to ensure that arrangements can be made that will protect our clients' financial interests.

Spousal Maintenance: When Is it Awarded?

Spousal maintenance, which is sometimes referred to as alimony or spousal support, may be awarded when one spouse requires financial support following divorce. There are a variety of factors that may be considered when determining whether spousal support should be paid, including each spouse's current income, the earning capacity of both parties based on their education and work experience, contributions that spouses made to the home and the marriage, family-related sacrifices a spouse may have made that limited their earning potential, and whether a spouse may need time to pursue education or training before they will be able to financially support themselves.

Illinois law provides statutory guidelines to calculate both the amount and duration of maintenance. Our lawyers can advocate for fair spousal support arrangements, whether we are seeking support on a client's behalf or responding to requests made by the other party.

Call 630-584-4800 and let us help your family.

High Net Worth Divorce Considerations

When a couple owns substantial assets, the divorce process can become significantly more complex. A high net worth divorce will require careful attention to financial concerns. Common issues that may need to be addressed in these cases include:

• Business Interests: Whether one or both spouses own a business, it is essential to determine the business's value and whether it qualifies as marital property. A business valuation may involve an assessment of income, assets, goodwill, future earning potential, and other factors.
• Professional Practices: Professionals such as physicians, lawyers, or accountants may own practices that require unique valuation methods. These assets may involve considerations beyond income, such as licenses, partnerships, and client lists.
• Hidden Assets: In some cases, one spouse may attempt to conceal assets through offshore accounts, undervaluation of property, complex financial structures, or other methods. Our divorce attorneys can collaborate with forensic accountants to ensure that all assets will be identified and considered during the property division process.
• Tax Implications: When dividing large estates, selling property, or transferring retirement assets, couples may need to address a number of tax-related issues. Our lawyers can help clients take steps to minimize potential taxes and make sure they fully understand the effects of the decisions they make.