The demographics of a family change when there’s a divorce. For some families, this is a transition that is easier to accept. However, there are times when external factors might affect the income stream of both spouses. One of this occurs when the parties who divorce...
Year: 2021
Will your divorce settlement include cryptocurrency? Only if you can find it — learn how
You and your spouse are in the process of divorcing. You are likely facing a barrage of decisions about the custody of any minor children you share and the division of marital assets and the assignment of shared debts. But there may be one very lucrative asset that...
How does parental alienation happen?
One of the worst things that can happen to a parent after a divorce is to be alienated from the children. This process can ruin relationships in ways that the children do not even understand. The goal for parents after splitting up should be to work together to...
Commingled funds affect property division in high-asset divorces
When people get married, they rarely assume that the marriage will one day end in divorce. Most couples begin to share everything right from the start, including their separate property. For example, if you earn more than your spouse, you might routinely use your...
3 things you can do to make the divorce easier on the kids
No matter how old or young your children are, divorce will be hard for them. Even adult children who have already moved out of the home may require support when their parents divorce. Those still developing physically, socially and emotionally will have the most...
Who pays the marital debts in your Chicago divorce?
Getting a divorce is rarely a simple matter of going into court and having a judge declare you divorced. Unless you have only been married for a few days or weeks, you must sort through and address many things. Your marital estate is one of these things and is often a...
Tips for setting a parenting plan during divorce
Going through a divorce is a contentious process for many people. Parents have to ensure that they have a parenting plan in place for the children. Typically, getting this plan together means that you and your spouse will have to negotiate the terms. Doing this as...
Are separate bank accounts enough financial protection for you money in a divorce?
A 2018 Bank of America (BOA) survey shed light on the growing trend for spouses to keep separate bank accounts instead of having a joint one. Husbands and wives often do this because they believe that their spouse can't stake a claim to the funds if they divorce by...
How is property divided in an Illinois divorce?
One of the biggest concerns someone faces when they decide to divorce is how they will divide their property and assets with their spouse. If you’ve been married and have a home, how are you going to split that with your spouse? Or your country club membership? Will...