Posted on May 21, 2024 in Illinois Divorce

The legal process for divorce in Illinois is complex, but it is even more so for high-net-worth divorces. A high-net-worth divorce is one where at least one spouse has a significant amount of wealth. Illinois law does not specify a number, but a divorce involving assets totaling $1 million or more is generally considered to be a high-net-worth divorce.

When it comes to this kind of divorce, it is best to seek out an Illinois divorce lawyer who understands the financial issues that a high-net-worth couple will need to address. This article will discuss four such issues.

Property Division

In any divorce, both spouses are entitled to what Illinois law calls marital property. This refers to assets that were acquired by either spouse during a marriage, with certain exceptions. If a spouse earned something or bought something during the marriage, the other spouse is entitled to their fair share of it. 

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 Posted on May 16, 2024 in Family Law

A prenuptial agreement is a document signed before marriage that outlines what will happen with certain issues in the event of a divorce. Because of this, some couples find the subject of a prenuptial agreement to be uncomfortable. Many people avoid even suggesting it for fear of offending their partners. Others feel they do not need one because they think they will never get divorced.

If your partner has reacted uncomfortably to the idea of signing a prenuptial agreement but you feel strongly that a prenup is a good idea, your best move would be to consult a family lawyer. An Illinois family law attorney who has experience with prenuptial agreements will also have experience dealing with couples who are struggling to agree about the subject.

What Does a Prenuptial Agreement Contain?

A prenuptial agreement is a legal document that contains provisions for what will happen if the couple gets a divorce. This premarital agreement can specify, for example:

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 Posted on April 25, 2024 in Illinois Divorce

One of the more complex parts of a divorce proceeding is asset division. In this procedure, your divorce attorney and perhaps an accountant will help categorize certain assets as marital property or nonmarital property, and then negotiate with your spouse about how to divide the marital property. Marital property refers to assets that belong to both spouses and should be divided fairly according to Illinois law.

Sometimes one spouse may feel that the marital assets are in danger of being abused or wasted during the divorce. In that case, he or she may ask the court to freeze the assets by filing a dissipation of assets claim.

What is the Dissipation of Assets?

Dissipation of assets means the marital assets are being squandered. This happens in one of two ways:

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 Posted on April 16, 2024 in Illinois Divorce

When it comes to dividing assets in a divorce, Illinois law grants both spouses the right to “marital property.” There are three kinds of assets that are considered marital property and must be divided between both spouses in a divorce:

• Assets that were acquired by either spouse during the marriage

• Assets that were acquired by one spouse before the marriage, but blended with the other spouse’s assets

• Assets that were acquired by one spouse before the marriage but the other spouse contributed significantly to them during the marriage

So, if you are getting divorced and own a business that falls into any of the above categories, your spouse will likely be entitled to a part of it. Keep in mind that asset division is a complex legal issue, so it is best to consult an experienced divorce attorney to be sure.

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 Posted on April 08, 2024 in Child Custody

There are two types of child custody: one is legal custody, which involves making major life decisions for the child such as schooling or religious upbringing. In Illinois, legal custody is called “parental responsibilities.” The second is physical custody, which is when the child is under the parent’s physical care. Illinois law refers to this as “parenting time.”

Parents who get divorced are required to develop a parenting plan that outlines how much parenting time each of them will have with the child. If parents cannot agree on these terms, a judge may decide for them. Many factors will be scrutinized, and the court may take the child’s wishes into account. It is important to involve a qualified child custody lawyer from the start to make sure the process is being followed correctly.

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 Posted on April 03, 2024 in Illinois Divorce

Filing for divorce can be a complex legal process that involves more than just you and your spouse. Any agreement will also need to address things like child custody (if applicable), alimony, and other factors. 

A common point of dispute among divorcing couples is the division of assets between the parties. Using a skilled attorney can help simplify this process, which Illinois law refers to as the distribution of marital property.

What is Marital Property?

Illinois law defines “marital property” as any assets you or your spouse acquired after getting married, including debts or other obligations.

Marital property does not, however, automatically include assets that were:

• Received as gifts or part of an inheritance

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 Posted on March 27, 2024 in Child Custody

The process of divorce in Illinois can be stressful, and sometimes, couples can have a variety of issues that they struggle to resolve. Issues surrounding shared children in a divorce can often be the most contentious, generally leading to drawn-out arguments and a refusal to settle or form a parenting plan together.

In these cases where mutual decisions about a child cannot be reached in a divorce, a guardian ad litem may be appointed to help advocate for the child’s best interests. Along with an experienced Illinois divorce attorney, a guardian ad litem can help navigate your divorce and reach agreements that put your child’s best interests first.

What Is a Guardian Ad Litem?

A guardian ad litem is an individual who is designated, typically by the court handling your divorce, to advocate for the best interests of your child. Generally, a guardian ad litem will be a licensed attorney, and he or she will be appointed when the parents of a shared child cannot reach important divorce decisions such as parental responsibilities, parenting plans, or child support and child custody agreements.

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 Posted on March 19, 2024 in Illinois Divorce

Making the decision to get out of an abusive marriage can be overwhelming, and the safety of yourself and your children must be top priority. While it may seem impossible to untangle your life from your abusive spouse, it is possible to file a divorce and end your marriage, regardless of your spouse’s actions. An experienced Illinois divorce lawyer can help you navigate this process and explain your options for divorce.

Obtaining an Illinois Order of Protection

The first step in divorcing a dangerous spouse is ensuring that you and your children are in a safe space where you can pursue the divorce proceedings. In cases where there is emotional, physical, or sexual violence, you may be able to file for an Illinois Order of Protection.

You can receive a temporary Order of Protection almost immediately in the majority of cases, though you will need to attend a court hearing to extend this order or make it permanent. To increase your chances of a long-term Order of Protection being granted, begin documenting all of the abuse and violence of your spouse that you can to back up your claim.

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 Posted on March 08, 2024 in Illinois Divorce

The emotional blow of discovering your partner is cheating on you can be intense, and it may take time for you to recover a clear head and think about your next steps. If, after thinking about your situation, you do not wish to continue your relationship with your partner due to the cheating, a divorce may be necessary. A skilled Illinois divorce lawyer can advise you about your divorce situation and guide you through the steps of the Illinois divorce process.

Separating From Your Cheating Partner

Separating from your partner is not an easy decision, and many people find it both stressful and sad to end their marriage. However, this may be the best decision in cases where cheating or other adulterous behavior has caused an irreparable rupture in the trust between you and your spouse.

It is important to note that under the Illinois Marriage and Dissolution of Marriage Act, Illinois is a no-fault divorce state. This means that your spouse’s cheating will not be taken into account when it comes to important divorce decisions such as dividing property, determining spousal support or child support payments, or the creation of child custody agreements.

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 Posted on February 29, 2024 in Child Support

During your divorce, the process of figuring out child support can be complex. There are many different factors that may be considered when calculating child support, and you will no doubt want to come to an agreement that is fair for you, your ex, and your child. An experienced Illinois child support lawyer can help you understand Illinois child support laws and advocate for a fair child support agreement.

How Does Illinois Calculate Child Support?

Illinois child support laws are fairly standardized. The law creates guidelines for calculating child support amounts. In general, you can expect child support to be calculated in the following ways:

• Reviewing each parent’s monthly income and combining them to create a total. The total is then divided according to what percentage of the total each parent makes and how much time each parent spends with the child

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