Although 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.

Getting a divorce is rarely easy, especially in contentious cases involving high levels of conflict between spouses. It is understandable that spouses may not see eye to eye during the divorce process, and disagreements can be expected in most cases. However, there are some cases where a spouse may behave unreasonably and have unrealistic expectations about what should happen during the divorce process. Unfortunately, those who are getting divorced from a spouse with mental health issues will often experience difficult conflicts, and this is especially true when a spouse is a narcissist.

Divorces involving mental illness and concerns about the health and safety of the parties and their family members can become complex very quickly. If you believe that your spouse is a narcissist, you may need to prepare to address multiple types of conflicts and legal issues, and you will want to take steps to protect your rights and determine your best options for resolving disputes successfully. Having the right attorney on your side during this process is crucial. A lawyer who is experienced in high-conflict divorce cases can advise you of your options and provide you with skilled representation when addressing issues in the courtroom.

Understanding Narcissism

Narcissistic Personality Disorder (NPD) is a mental health condition involving an inflated level of self-importance and a lack of empathy for others. It is one of the least diagnosed mental health issues, because people with NPD often do not believe that they have a problem. Even if a person does not exhibit all of the traits of NPD, they may engage in narcissistic behavior that affects their relationships with others.

The divorce process can be complicated regardless of a couple’s circumstances. Spouses may be involved in contentious disputes related to any or all of the issues that will need to be resolved before they can legally dissolve their marriage. Even if a couple agrees on most of the issues in their divorce and plans to avoid conflict wherever possible, they may still encounter difficulties related to their property, incomes, and finances. This is especially true in high net worth divorce cases where spouses own valuable assets or earn high incomes. In these cases, spouses will need to address a variety of unique financial concerns. It is crucial for spouses to secure representation by an attorney who is experienced in high asset divorce cases, and with the right lawyer on their side, they can make sure their legal and financial concerns will be addressed correctly.

Property Division Issues

All divorcing couples will need to decide how they will divide their marital property, which consists of all assets and debts they acquired during their marriage. This can be an especially complex process for couples who have a high net worth, since they are likely to own a wide variety of different types of physical property and financial assets. These may include:

• Real estate - In addition to their marital home, a couple may own vacation homes or other real estate property. These properties should be appraised to determine their value and the amount of equity the spouses own in each property. It may not be possible to equally divide these properties between the spouses, so it may be necessary to sell certain properties during divorce.

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Being involved in any type of legal proceeding can be taxing, but finding yourself arguing about your marriage in a courtroom is especially difficult. It can be challenging to see your years of marriage being reduced to a legal battle and having a judge, who knows little to nothing about your life or relationship, make decisions about your future. While divorce litigation is often a last resort for divorcing couples, with the right attorney arguing on your behalf, you can be assured that your rights and interests will be protected.

Is a Divorce Trial Right for Me?

If you are in the beginning stages of your divorce, you should be aware of all of your options for resolving disputes with your spouse. Trial litigation is far from your only option, but depending on your circumstances, it may be the best fit for you and your family. Methods that you may use to resolve divorce-related issues include:

1. Divorce mediation - Some couples decide to divorce because they are no longer in love or are not happy being married to each other, and they may wish to resolve divorce-related issues with minimal conflict. For divorcing couples who can communicate openly with each other, are able to compromise, and want the best for each other, divorce mediation is a great option. You and your spouse will hire a third-party mediator who will guide you through the divorce agreement process, allowing you to make the decisions together.

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Choosing to expand your family through adoption is a choice that greatly impacts the lives of everyone who is involved. For the child, they are given a loving home and family that they would not have otherwise. For the adoptive parents, they are able to help another person for the rest of their lives and build a unique, loving relationship with this child. Your biological children will have a new sibling to bond with, and all of your other family and friends will get to create a relationship with your new child.  

Many do not realize the large number of children who are living without a family. In Illinois alone, 17,920 children are in foster care; 3,347 of which are waiting for adoptive families. Multiply this number by 50 for an estimate of the number of kids without families across the U.S., and this does not include the children across the world living in a similar situation. Adopting a child is truly a gift from one person to another, and understanding the legal process that adoption entails is an important first step in helping another child.

Is Adoption Right for Me?

Making the decision to adopt a child is a selfless choice that should not be made lightly. Many assume that adoption is reserved for couples who are unable to conceive children, though this is far from the truth. While adoption provides a means of creating a family for couples like these, many families view adoption as an opportunity to change another person’s life in the most impactful way possible. Having the desire to help another individual is a wonderful goal, but one must be truly prepared for the emotional difficulties that adoption brings along with it before moving forward with the process.