Posted on December 04, 2023 in Divorce

Divorce settlements lay out how any marital assets will be divided. Some assets are easier to divide and some are harder. One of the assets that can be complicated to divide is a business. If either or both spouses own a business, figuring out how it will be divided requires the consideration of many factors. If not done right, it could affect the future of the business. While there are several ways a business can ultimately be divided between ex-spouses, it is generally a great idea to do something called a business valuation. If you are considering divorce but are concerned about how it might affect the business you own, an experienced Kane County, IL, divorce attorney can advise you on how best to protect your interests.

How Can a Business Valuation Impact My Illinois Divorce?

Regardless of the size of a business and whether it is a family-owned business, medical practice, investment firm, house cleaning company, or any other type of business you can imagine, figuring out what will happen to your business after divorce can be a complicated challenge. In general, there are three ways to deal with business ownership in a divorce:

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 Posted on November 28, 2023 in Property Division

While a lot of people are aware of the most common topics that generally need to be divided up in a divorce - child custody; alimony/spousal support; division of property, assets, and debts - there are some divorce issues that people are less aware of. You might be surprised to know, for example, that what happens to a family pet in divorce is an entire topic of its own.

Some people might consider pets property since they are animals and not humans. But in many cases, families consider their pet a member of the family. This can make it harder to consider a pet an item that needs to be distributed. If you are considering divorce but find yourself worried it could mean the end of your relationship with your beloved pet, an experienced Kane County, IL divorce lawyer can help you navigate the process and advocate for your rights and interests.

How Do We Decide Who Gets Our Pet if We Both Love Her?

When a couple gets divorced, it can be extremely complicated trying to decide where their shared pet will live. For the courts to be able to decide this, both spouses will need to gather and present evidence that supports their claims. In this way, decisions about a pet are no different from decisions about any other aspect of divorce.

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 Posted on November 27, 2023 in Divorce

Credit card debt is a widespread issue across America and poses a particular challenge during divorce. If either spouse has student loans, a mortgage, personal loans, or credit card debt, what happens to it will be decided as part of the debt division to be settled in divorce proceedings. If you are considering divorce and are concerned about your spouse’s credit card debt, a knowledgeable divorce lawyer can offer insight into the process and help you protect your rights.

How Is Debt Distributed in Illinois?

Illinois is considered an "equitable distribution state" for the division of both assets and debts. This means that decisions about how assets and debts will be distributed in divorce will be guided by the goal of ensuring that neither spouse is unfairly financially disadvantaged. However, several other issues will be taken into consideration, including:

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 Posted on November 22, 2023 in Divorce

While the concept of divorce is something most people are familiar with, the actual steps taken to make a divorce happen are not generally common knowledge. If you have never been through divorce proceedings yourself, it would be unusual for you to know what needs to be done. If you find yourself considering divorce and you do not know where to begin, an experienced Kane County, IL, divorce lawyer can explain to you all the steps that need to be taken and what all the terms mean so that you can move forward with knowledge and confidence.

Filing for Divorce

When a couple, or either spouse, wishes to get divorced, the first thing that needs to happen is that someone needs to go to court to file for divorce. Whoever does this is referred to as the petitioner, and the other spouse is referred to as the respondent. The petitioner needs to go to a court where they live. If they do not live with their spouse, they can also choose to file for divorce in a court where their spouse lives.

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 Posted on November 20, 2023 in Child Custody

Most people might think they have a basic understanding of what is involved in a divorce, but the vast majority are not familiar with what the most common divorce-related child custody terms mean. In general, if you have never experienced something yourself, you will be less familiar with it. The same goes for divorce and child custody matters. If you have never had a reason to gain an understanding of all the important factors in a divorce settlement where children are involved, the chances are you might lack some understanding of what all the terms mean. If you are a parent considering divorce for the first time and are not sure what all the terms mean, a Kane County, IL child custody lawyer can answer all your questions and help you represent your best interests with the knowledge and confidence you need.

Knowledge Is Power

It is safe to assume that newly engaged couples setting out to get married are not typically thinking about how they would split their assets in the event of a hypothetical divorce. Even so, prenuptial agreements and even postnuptial agreements are a way for married couples to plan for something they hope will never happen. When you are young and healthy, you do not necessarily want to think about your eventual death. Nevertheless, many people draw up a will years before it would be relevant just to help make future planning that much easier. However, there is no parallel document regarding child custody. Not only would it be unusual for new parents of a newborn baby to try to think about how they would arrange child care in the event of a hypothetical divorce, but no document or agreement currently exists in US law for parents to plan how they would raise their shared children in such a case.

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 Posted on November 20, 2023 in Divorce

Many parents struggle to maintain their previous work schedule once they have children. It can be difficult just handling the basics of dropping them off at school on time and bringing them after school when you are expected to be at work around the time school starts and your workday lasts longer than the school day. A long commute can make it nearly impossible. When you consider that many children also have extra-curricular activities, medical appointments, or special needs, the logistics alone can be too much to handle for a working parent. This leads many families to decide that one parent should not work and instead be a stay-at-home parent. If you are a non-working parent and are concerned about financial issues after divorce, a DuPage County, IL divorce lawyer can work together with you on a plan to protect your rights.

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 Posted on November 15, 2023 in Divorce

Typically speaking, a divorce is not a simple process for anyone. Even if you and your spouse agree rationally on all the issues involved, there can be an emotional component. Once, you were committed to each other and now you are figuring out how to separate your lives. In addition to the emotional issues, there can be financial implications. In some divorce settlements, people can be responsible for covering any debt their ex incurred during their marriage. This can include education fees, investments they made, or payment plans that have not been completed. If you are considering divorce but are concerned about what will happen with your ex’s debt, an experienced Kane County divorce lawyer can answer your questions and explain any responsibilities you may have.

How Does the State of Illinois Rule on Distribution of Assets and Debts in Divorce?

There are two main methods used for distributing a couple’s marital assets and debts: equal and equitable. The method used in your divorce is determined by the state you are in. The state of Illinois follows an equitable distribution method. Rather than splitting the value of all assets down the middle and giving each spouse an equal share, an equitable division would dictate that several factors need to be taken into account:

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 Posted on November 14, 2023 in Child Custody

There is a common assumption that if a couple has children, the mother will automatically get most of the parental rights and responsibilities in a divorce: the mother will get full custody and the father will only be able to visit with the children; the mother will have all decision-making rights for the children, regarding their schooling or healthcare or anything else; the father will pay child support and the mother will be the main parent in the child’s life. These assumptions are no longer accurate.

Every state has its own laws for this section of the law, and even within each state, every divorce is unique. There is no hard rule about "all" divorces being decided in any certain way. That means there is no reason to assume your spouse will get all the parental responsibilities in a divorce. If you are a father and are considering divorce, an experienced DuPage County, IL, divorce lawyer will be able to answer any questions and explain what you can expect with knowledge and sensitivity.

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 Posted on November 09, 2023 in Divorce

Every divorce is unique. Some couples can settle their separation amicably, through an uncontested divorce. Other couples might have such powerful animosity that they may go through what is called a high-conflict divorce. Some couples will settle their divorce in court, while others will do so through mediation. Regardless of the different ways a divorce could be settled, the actual aspects of life that need to be decided on in the divorce settlement are generally similar. If you are considering divorce, an experienced Kane County, IL, divorce attorney can explain what you can reasonably expect your divorce settlement to include and begin working on a plan to protect your best interests.

What Issues Are Covered in a Divorce Settlement?

A divorce can take time to be settled because the couple needs to figure out how all the parts of their life that were bound together in marriage will now be divided up. A typical divorce settlement will include the following aspects:

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 Posted on November 07, 2023 in Divorce

While it is true that no two divorces are the same, there are still some issues that commonly come up. Whether the two spouses are splitting up amicably or are unable to even make eye contact, they will still generally need to figure out asset division, spousal support, and property division. And regardless of how easily a couple can reach agreements about all those things in a divorce, child custody issues are commonly difficult to work out.

A couple can be ending their marriage on great terms and still find it nearly impossible to formulate a plan for how they will raise their children in this new dynamic. Also, parents can sometimes be so wrapped up in worry about the divorce settlement they might not always feel able to keep their children’s best interests at the center of their minds.

In such cases when parents cannot agree on how their parental responsibilities should be divided in divorce, a guardian ad litem, or GAL, can be appointed by the court. This is a legal representative specifically tasked with advocating for the child’s interests. If you believe an acrimonious divorce may be in your future, it might be good for you to understand what exactly a GAL does. An experienced DuPage County, IL child custody attorney can answer your questions and help prepare you for the next steps in your divorce.

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