Posted on September 05,2024 in Illinois Divorce

Divorce can disrupt not only personal lives but also the financial foundations of a business. For business owners in Illinois, navigating the complications of a divorce requires careful and strategic planning to safeguard the company against the perils of Illinois divorce. Here are some key considerations to protect your business during your divorce. Discuss with a lawyer ways to ensure that your business survives the divorce and can function effectively before, during, and after your divorce.

Document the Source of Funds

One of the most effective ways to protect your business during a divorce is by thoroughly documenting the source of funds that were invested in the business. If you can clearly demonstrate that the capital used to start or grow your business originated from non-marital assets (such as inheritance or pre-marital income), it may help classify those funds as yours alone.

Continue Reading ››

 Posted on August 26,2024 in Illinois Divorce

Divorce is often described as one of life’s most challenging experiences, and concerns about financial fairness during the divorce can complicate the process even further. A significant worry for many is whether their spouse is concealing assets from them in order to avoid a fair settlement. Sadly, this type of deceit is often more common than many think.

Recognizing the signs that your partner may be hiding financial resources is crucial for ensuring his or her behavior is identified and stopped and that a fair settlement, which can only be achieved when all assets are accounted for, can be pursued. If you are concerned your spouse is hiding assets from you, bring up these concerns with your lawyer.

Signs that Your Spouse May Be Hiding Money Before Divorce

Strange or Unexplained Changes in Behavior

Continue Reading ››

 Posted on August 21,2024 in Child Support

Child support is a crucial aspect of family law intended to ensure that children's needs are met after a separation or divorce. For children with autism, understanding the specifics of child support in Illinois can be vital for ensuring children receive the support they need for their well-being. If you are getting a divorce and have a child with autism, discuss with your Illinois family law attorney how to handle the situation, always keeping in mind the importance of promoting your children's health and wellness.

Understanding Child Support Guidelines in Illinois

In Illinois, child support is determined based on legal guidelines that consider each parent's income, each child's needs, and the number of children involved. For families with children on the autism spectrum, it is important to recognize that their needs may be more complex than the typical child's, often requiring additional support for therapy, medical care, and educational services. Courts can account for these unique circumstances when determining the appropriate levels of support.

Continue Reading ››

 Posted on August 13,2024 in Family Law

The process of divorce can be very unpleasant, especially when there is a child custody dispute involved. When a child custody dispute is taking place, the most important concern for the court is determining what is in the best interests of the children involved. Parents often wonder how to set themselves up best to "win" the custody dispute. To increase your chances of a favorable outcome, it is important to present concrete evidence that highlights your role as a caregiver. To set yourself up for success, retain the services of a skilled attorney to help you win the custody battle and put yourself in a position to achieve a favorable settlement outcome.

Continue Reading ››

 Posted on August 06,2024 in Illinois Divorce

When it comes to prenuptial agreements, many people wonder if signing one reflects a lack of trust or faith in a relationship. In reality, a prenup can be a wise and proactive choice that strengthens a marriage. To learn more about the many benefits of signing a prenup, obtain the legal counsel of a family law attorney.

What You Need to Understand About Prenuptial Agreements

In Illinois, a prenuptial agreement, or prenup as they are commonly called, is a legal document two people sign before they get married. The document essentially outlines how assets and debts will be managed in the unlikely event of a divorce or separation. While the concept may seem inherently pessimistic, prenups serve as a form of protection that can actually enhance trust and communication in a marriage.

Continue Reading ››

 Posted on July 29,2024 in Family Law

In the midst of divorce, many parents rightly focus on child custody, child support, and spousal maintenance. Yet, for parents of non-minor children planning to attend college, one looming question often remains: "Will I need to pay for my non-minor child’s college education after a divorce in Illinois?" The straightforward answer is yes. Illinois laws allow the court to order parents to contribute to their child’s college expenses, ensuring that educational opportunities remain accessible. For guidance navigating your child’s college expenses after you have been divorced, contact a lawyer for assistance.

Continue Reading ››

 Posted on July 19,2024 in Illinois Divorce

Divorce is more than just the dissolution of a marriage; it is the untangling of two lives deeply intertwined both emotionally and financially. When significant financial assets are involved, divorce becomes incredibly complex. This is where hiring an Illinois divorce attorney who is also a Certified Financial Litigator (CFL) can be a game-changer. Here is why the knowledge of a CFL can make a significant difference in your divorce proceedings.

Deep Understanding of Financial Valuation

One of the biggest challenges in a high-stakes divorce is the accurate valuation of assets. CFLs possess enhanced knowledge in financial analysis and valuation. CFLs are adept at identifying, valuing, and categorizing marital assets, including businesses, real estate, investments, and retirement accounts. This enhanced knowledge ensures assets are fairly and accurately valued, preventing any potential undervaluation or overvaluation that could affect the settlement.

Continue Reading ››

 Posted on July 15,2024 in Illinois Divorce

Children often feel a range of emotions when it comes to divorce, such as confusion, sadness, anger, or despair. That is why it is so important for parents to prioritize the well-being of the children involved in the situation. To learn and implement strategies to keep your children happy and emotionally healthy post-divorce, discuss with your Illinois divorce lawyer regarding what decisions you should make to ensure the well-being of your children stays intact.

Manage Your Emotions for Your Children’s Sake

Managing your emotions effectively is one of the most important things in supporting your children post-divorce. Children are highly perceptive, meaning that they can easily pick up on your stress, anger, or sadness. This perceptiveness can worsen children’s levels of insecurity.

Continue Reading ››

 Posted on July 09,2024 in Illinois Divorce

Marriage is built on trust and communication, but sometimes, issues arise that lead one partner to consider divorce. It is difficult and often painful to face the possibility that your spouse might be thinking about ending the marriage. If you suspect your spouse is serious about getting a divorce, there are a few important indicators that can help you understand his or her intentions. 

Remember, if you think your spouse is serious about divorce, strongly consider contacting an attorney. Your Illinois attorney will make sure your rights stay protected if you and your spouse move forward with dissolving your marriage.  Here are three signs that may indicate your spouse is seriously considering divorce.

Your Spouse Has Begun Speaking About Divorce Openly

One of the most apparent signs that your spouse is serious about divorce is if they begin to talk about it openly. This might include statements about feeling unhappy in the marriage, mentioning divorce during arguments, or expressing a desire to separate. These kinds of conversations can be direct or subtle, but if divorce is a recurring topic, it is a significant indicator that your spouse is considering it seriously.

Continue Reading ››

 Posted on June 26,2024 in Illinois Divorce

Divorce proceedings can get even more complicated when a business is involved. Valuing a business can be a challenging task, and Illinois courts recognize several methods to do this properly. While the income approach is one way to determine a business’s worth, asset and market approaches tend to be more common. If you need assistance in matters related to your divorce, attorneys in Illinois are ready to assist you.

Understanding the Asset Approach

The asset approach, also known as the book value approach, involves calculating the net value of the business by considering its total assets and subtracting liabilities. This method gives a snapshot of what the business is worth if it were to be liquidated.

Continue Reading ››