Posted on June 03, 2022 in Uncategorized

Money and financial disagreements are common causes of marital discord. It is natural for these disagreements to carry over even once a divorce is inevitable. However, until the divorce decree is final, both spouses must refrain from frivolous spending that only benefits themselves and negatively impacts the joint marital assets that are to be equitably divided. You may have found out that your spouse bought an expensive new car or took a trip with the person they have been having an extramarital affair with. This type of wasteful spending is known as dissipation, and it can have repercussions during the divorce process.

Impact of Dissipation on a Divorce in Illinois

For wasteful spending to be considered dissipation, it must have occurred after the marriage has undergone an “irretrievable breakdown.” Illinois law limits claims to spending which occurred five years before the claim is made and three years from when the other spouse found out about the spending.

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 Posted on May 24, 2022 in Uncategorized

During a divorce involving minor children, significant decisions always surround the division of rights and responsibilities of each of the parents in the children’s lives. Illinois law requires a comprehensive parenting plan during a divorce to clearly describe the detailed responsibilities of each parent. An experienced attorney can help you negotiate a parenting plan that serves your children's best interests while also meeting your needs.

Components of a Parenting Plan

Here are components that should be included in a parenting plan. While the first two are the most important, all parts of the plan are required by law and can help remove subjectivity over future decisions the parents may face.

• Parenting time schedule – This describes how the children’s time with each parent will be divided and the specific plan for days or weeks spent at each home.

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 Posted on May 18, 2022 in Divorce

For various reasons, the rate of divorce among couples over the age of 50 continues to grow. While many divorces have specific characteristics in common, some issues become more pronounced for older couples. Child support and child custody arrangements may not be as common, but couples can face more significant challenges related to spousal support, division of marital property, retirement savings and Social Security, and complex financial situations.

Common Issues When Couples Divorce Near Retirement

With the complexities that older couples face, it is essential that you work with an attorney who is experienced in dealing with gray divorces and the issues they may face. Here are some of the more common issues to consider during your divorce.

Retirement savings and Social Security – For couples approaching retirement, assets such as 401(k)s, IRAs, and pensions take on greater importance. The portion of the retirement funds acquired during the marriage are divided equitably during a divorce, not solely to the spouse who earned or contributed to the accounts. Divorced parties may also be entitled to Social Security benefits based on their ex’s work history. However, your marriage must have lasted for at least ten years, and the benefits are not eligible to be divided until two years after your divorce is finalized.

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 Posted on April 26, 2022 in Family Law

You may be familiar with prenuptial agreements and their role in keeping assets separate as a couple enters marriage. Less well-known is the postnuptial agreement. Like a prenup, it can be an excellent way to protect individual assets, including property, life insurance considerations, and financial responsibilities. For a postnuptial agreement to be enforceable, it should be something that both spouses agree on. Working with a family law attorney before entering into any postnuptial agreement is also recommended.

What Are the Benefits of a Postnuptial Agreement?

A postnuptial agreement can:

• Protect significant individual wealth - For partners who brought considerable wealth into a marriage, such as a business, real estate property, or retirement savings, those assets can be kept separate from the marital estate in the postnuptial agreement. A postnuptial agreement may also be a smart move for you and your spouse if one of you has recently experienced a significant financial change, including a large inheritance or gift, or has recently acquired valuable property.

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 Posted on April 11, 2022 in Divorce

When a marriage is ended, some of the most far-reaching decisions revolve around finances and assets. Without a valid prenuptial or postnuptial agreement, the two parties or the judge must agree on whether alimony, also known as spousal support or spousal maintenance, will be paid by one spouse to the other. There are different factors to determine whether alimony will be paid, how much the payments will be, and how long the support will continue.

Spousal support is not a required part of the divorce agreement. There are three main avenues for one spouse to receive alimony in Illinois:

• Through a valid prenuptial or postnuptial agreement. This agreement can cover the amount of the payments, the length of payments, or simply if payments will occur.
•  A settlement or agreement by the two parties during the divorce proceedings. This can be negotiated directly by the two parties in an uncontested divorce or by their attorneys during divorce negotiations.

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 Posted on March 18, 2022 in Divorce

Divorce statistics can vary from source to source, but most sources estimate the divorce rate for first marriages to be between 40 and 50 percent. For second marriages, the divorce rate is closer to 70 percent. If you are getting divorced for the second time, you are not alone. While you may assume that you know what to expect in this divorce since you have been through it before, each case is different and there are often additional issues to consider in a second or third divorce. To ensure that you make the best decisions possible and avoid mistakes during your divorce case, work with an experienced divorce lawyer.

Property Division and Other Financial Concerns

Just as you did in your first divorce, you and your spouse will need to divide your shared assets and debts. You may have bought a home, made investments, taken out a loan, or made other financial decisions during your second marriage that you will need to address in your divorce case. Unless you have a prenuptial agreement or other marital agreement in place dictating property division, you and your spouse will need to either reach an out-of-court settlement or take the case to trial to divide your assets and debts.  An experienced divorce lawyer can help you explore your property division options and choose the option that makes the most sense given your particular situation.

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 Posted on March 02, 2022 in Divorce

Financial issues are just one part of the marital relationship. However, financial concerns often eclipse other matters in a divorce case. A spouse’s income, debts, assets, and expenses influence almost every aspect of the divorce case. Child support, spousal support, and property division are all influenced by finances. This is why it is so crucial for divorcing spouses to ensure that financial disclosure is accurate and complete.

Some spouses try to manipulate the outcome of the divorce by lying about how much money they make or other financial information. If you are divorcing and believe that your spouse has fabricated financial information or soon will, take action now. You deserve a divorce outcome that is based on accurate financial information. A divorce lawyer experienced in complex financial concerns during divorce can protect your rights and help you take the next step.

Methods for Hiding Assets in Divorce

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 Posted on February 08, 2022 in Family Law

Being a parent comes with its own array of practical, financial, and sometimes, legal difficulties. If you are a mother or father in Cook County, you may have questions and concerns about paternity. Paternity is the legal relationship between a father and his child. In some cases, paternity is presumed by law and no further action is required to establish the legal father-child relationship. Other times, the parents will need to take certain actions to establish the rights and responsibilities that come with being a father.

You May Need to Take Action to Establish Paternity

If the mother and father were married when the child was conceived and/or born, paternity is presumed. This means that Illinois automatically assumes that the mother’s husband is the father of her baby. However, if the parents are unmarried, paternity may need to be established through a Voluntary Acknowledgement of Paternity (VAP). Paternity can also be established through a court order or administrative order through the Illinois Department of Healthcare and Family Services (HFS). Sometimes, DNA paternity testing is needed to confirm the father’s biological relationship to the child.

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 Posted on February 05, 2022 in Child Custody / Parental Responsibilities

When parents divorce or unmarried parents break up, they will need to determine how to raise their children. In Illinois, the two main components of child custody are the allocation of parenting time and parental responsibilities. Understandably, many parents have strong opinions about how to handle parenting duties, childcare, and other child-related matters. When parents have different opinions, the situation can quickly escalate. What starts as a minor disagreement can turn into a full-blown custody battle.

If you are in a situation like this, know that you are not alone and that you have options. An experienced family law attorney knowledgeable in child custody matters can help you understand these options and take the next steps.  As you navigate the process, keep the following tips in mind: 

Educate Yourself About Illinois Child Custody Law

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 Posted on January 25, 2022 in Divorce

A divorce ends one chapter in life but offers the opportunity for a new chapter as well. If you are getting divorced, you may feel a mix of emotions. On one hand, you may be grieving the end of your marriage, but on the other hand, you may be excited about the prospect of dating again.

Many people going through a divorce wonder if it is okay to date other people while they are still technically married. While adults have the right to date whoever they want, dating during divorce can have unintended consequences.

What If I Meet Someone While I Am Still Technically Married?

In many cases, spouses lead separate lives long before they are officially separated or divorced. If you are like many people seeking divorce, you may have felt like your marriage ended months or even years ago. Consequently, you may be ready to start looking for a new romantic partner.

Whether or not you choose to date before the marriage is officially dissolved is your decision, however, is it important to know the ways dating during divorce may impact your divorce case.

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