110 E. Schiller Street, Suite 320, Elmhurst, IL 60126

Weiss-Kunz & Oliver, LLC312-605-4041

CHICAGO
 ⚫ PARK RIDGE
 ⚫ ELMHURST -

Subscribe to this list via RSS Blog posts tagged in Elmhurst divorce attorney


Elmhurst family law attorney for spousal support

Out of the different types of financial matters that couples will need to address during a divorce, spousal support can often be one of the most contentious issues. While parents will usually recognize that child support will be necessary to provide for their children’s needs, and couples understand that they will need to divide their marital property fairly and equitably, a spouse may be unhappy about the requirement to make ongoing payments to their former partner. However, there are situations where this form of support may be necessary, and it is important for spouses to understand how the laws that address this issue will apply in their case.

When addressing matters related to spousal support and other financial issues during your divorce, you can improve your chances of achieving a positive outcome by working with an experienced divorce attorney. Your lawyer can explain your rights and ensure that all financial factors in your case are considered properly, and they can act as your legal advocate, making sure your rights and interests will be protected in the decisions that are made.

...


Chicago divorce attorney for hidden assetsAlthough we rarely think of marriage in these terms, spouses who get married enter into a financial partnership with each other. Consequently, a marriage represents much more than the romantic or personal connection between spouses. It also represents a melding of the spouses’ finances. Per Illinois law, spouses are entitled to an equitable portion of the marital estate during divorce. Unfortunately, the process of allocating marital property between spouses in a divorce becomes much more complicated when a spouse lies about finances. 

If you are getting divorced, it is essential to understand your rights regarding the division of marital property, child support, spousal maintenance, and other divorce issues. If you suspect that your spouse is lying about finances or may attempt to hide assets during your divorce, contact a divorce attorney for help right away.

Understanding Illinois Law Regarding Marital Assets and Divorce

Illinois is an “equitable distribution” state with regard to the division of assets during a divorce. This means that by law, you have a right to an “equitable” or fair share of the property contained in the marital estate. Most of the property and liabilities accumulated by either spouse during the marriage fall into the category of “marital property.” Marital property often includes bank account balances, retirement funds, investments, real estate, vehicles, and household items like furniture. Complex assets like stock options, mutual funds, businesses, and professional practices may also fall into the category of marital property. If an asset is considered marital property, both spouses are entitled to a share of the asset’s value.

...

DuPage County divorce attorney parenting time

When you imagine getting divorced, you likely picture two spouses arguing in court under the watchful eye of a judge. Perhaps they cannot come to a decision about child custody, or maybe they are fighting over who will keep the family home. Movies and reality TV shows have sensationalized what divorce really looks like and what the legal process entails. While some divorces can lead to a screaming match in a courtroom, most divorce agreements are created by both spouses behind closed doors.

Most couples do not realize what the Illinois divorce process truly involves until they are thrown into the middle of it. Divorce is never easy, physically or emotionally, and the division of your family is bound to take a toll. While you may never be able to fully prepare yourself for the emotional challenges that will undoubtedly come with your ending marriage, having an understanding of what the legal process includes can make you feel more in control of a major life event that you likely never expected. 

...

IL divorce lawyerThe time leading up to your wedding can be a joyous and happy time, while simultaneously a stressful and overwhelming experience for many people. In the days and months leading up to your wedding, you likely have event planning things on your mind, such as picking out the color of the table linens or making a final determination for the guest list. What many people do not think about before they get married is the financial aspect of things. When you get married to another person, you are suddenly financially intertwined with that person and are subject to things such as property division and spousal support in the event you were to ever get divorced. One way to protect your financial health is by signing a prenuptial agreement before you tie the knot. Prenuptial agreements used to carry a negative social stigma, but more people have begun to see their benefits in the past several years.

Prenuptial Agreements are Becoming More Commonplace Among Couples

Just as Bob Dylan once sang in one of his most famous songs, “the times they are-a changin’,” the marital landscape in the United States is also changing. Not too long ago, many people thought it was unsavory or tacky to get a prenuptial agreement before they were married. After all, why would you make plans for the end of the marriage before the marriage has even begun? In recent years, there has been a surge in interest in prenuptial agreements, especially among younger couples. According to a survey conducted by the American Academy of Matrimonial Lawyers, around 62 percent of lawyers who responded reported that they saw an increase of prenuptial agreements between 2013 and 2016, while about half of them reported that they saw an increase in prenuptial agreements among millennials, specifically.

There are a couple of possible reasons for this surge in prenuptial agreements. First, the divorce rate in the United States has greatly increased over the past couple of decades. Depending on the source you consult, the current divorce rate is anywhere between 40 and 50 percent. Second, people are waiting to get married until they are older and consequently have accumulated more assets and property that they need to protect. The average age of individuals when they go to get married for the first time has increased significantly over the past 50 years. According to the U.S. Census Bureau, the average age a man was first married increased from 23.2 in 1970 to 30.3 in 2019, while the average age of a woman at her first marriage increased from 20.8 to 28.4, respectively.

...

IL divorce lawyerBreaking the news to your spouse that you want a divorce can be a very daunting and stressful task, but it is something that is unavoidable. You may wonder how the situation will play out, how the conversation will go or how your spouse will react. Will they break down and begin to cry in desperation or will they become angry and hurt, storming out of the house? Whatever their reaction to the news of your desire to separate, there is likely to be some level of resistance from your spouse. This resistance could vary from simply needing a little nudge in the right direction to downright refusing to cooperate at all.

Divorce is notorious for being an unpleasant, nasty, and heartbreaking experience for everyone involved. People can suffer from the stress of the divorce and children can end up bearing the brunt of the trauma. Multiple studies have come to the same conclusion that it is not divorce itself that causes lasting issues for children of divorce, but rather the exposure to their parents’ conflicts and arguments that cause emotional trauma. Fortunately, most people realize what is at stake when faced with the dilemma of divorce and are willing to somewhat cooperate for the sake of preserving the family. Even if your spouse seems argumentative or combative, they can usually be persuaded to agree to a collaborative divorce once they understand the benefits.

What Is a Collaborative Divorce?

Once you have made the decision to end your marriage, you then are faced with the task of determining how you will go about getting that divorce. One method of divorce that is becoming more common and increasingly popular is collaborative divorce. In the simplest terms, a collaborative divorce is a divorce that occurs when a couple agrees to settle their divorce outside of the court system. However, for it to be a true collaborative divorce, there are certain elements that must be present and certain guidelines that should be followed to make it authentic. A collaborative divorce requires both spouses to be willing to work together in a productive, rather than a destructive manner, along with help from a team of various professionals ranging from child psychologists and divorce coaches to financial advisers and estate planners.

...
Facebook Twitter
Search
  • bbb
  • cba
  • dcba
  • isba
  • lcba
  • lod
  • super lawyers
  • 10 best
  • asla
  • collaborative
  • expertise
Back to Top