If you’re like many divorcing couples, your home is your most valuable shared asset. Many couples opt to sell it and split the profit so they’ve each got a nice bit of money to start their new lives. In a seller’s market like we’re seeing now, getting a good price...
Chicago Divorce And Family Law Blog
How is a QDRO calculated?
When dividing a pension plan, a Qualified Domestic Relations Order will often be used. This order specifies that someone other than the employee should benefit from the pension. This person would be the ex-spouse after the divorce. This is a useful tool because it...
Does divorce have to be mutual?
Marriage certainly has to be mutual. Even if you don't have a traditional ceremony, you both still have to sign the marriage certificate. There's no way for one person to declare a marriage when the other person doesn't agree. But does the same process apply to...
What makes a high-asset divorce so complex?
A high-asset or "high net worth" divorce basically means that the parties separating have complex assets to divide. One or both parties may have large incomes, have local and international investments, real estate holdings and more. These factors can make a divorce...
Don’t let your divorce turn into a game of hide and seek
Can you remember playing hide and seek as a kid? The onus was very much on the seeker. If the hider hid well enough not to be found, they would win. Some spouses like to play a grown-up version of this when they divorce. They take their assets and hide them, thinking...
3 ways to make co-parenting easier and 3 to make it harder
Few, if any, co-parenting relationships are plain sailing. Even when parents are happily married, they often disagree on things. Disagreeing is fine. It is how you disagree that matters. Talking things over and negotiating your way to a compromise is constructive....
3 issues to check for during a pre-divorce financial review
Illinois divorces can become complicated rather quickly, especially when a divorcing couple has a lot of shared property. Emotions run high, and people who are typically rational and considerate can become aggressive or inflexible. In a high-asset or complex Illinois...
What is the divorce process in Illinois?
As Illinois is a no-fault divorce state, you can just say you have “irreconcilable differences” as the grounds for obtaining a divorce. Neither you nor your spouse has to show any proof that one of you committed some wrong that endangered your marriage. While it...
Alimony and why you might have to make these payments
During your marriage, you have worked hard and earned a considerable income. You have also been able to make investments, which have grown more and more valuable through the years. Now, you and your spouse are getting divorced. Because of your high income, you both...
Divorce rates traditionally rise in January
You've probably heard people say: “New year, new me.” They often mean that they've set some resolutions and want to change their lives. Maybe they want to work out more or lose weight or write that book they've been putting off. However, many people focus on their...