St. Charles Gray Divorce Financial Concerns Attorneys

Kane County Attorney Explains Common Financial Issues When Older Couples Divorce

If you are divorcing later in life, the impact on your personal finances will be of top concern. To ensure that you receive the maximum value in your property settlement, you will want an attorney with extensive experience in matters like:

• Appraisals of real estate and other high-value items.
• Business valuation.
• Analysis of retirement plans to determine what percentage of your spouse's 401(k), IRA, or pension you may be able to claim.
• Tax implications of various decisions such as selling an appreciated asset.
• Use of a forensic accountant to uncover hidden assets or dissipation of assets.
• Rights and protections for stay-at-home parents and single-income couples.
• Insurance needs, including your options to remain on a spouse's health insurance plan after divorce and to obtain life insurance to guarantee that you are not left without financial support if your ex dies before they have fulfilled their obligation to make maintenance payments.
• The impact on Social Security benefits.

About Our St. Charles Divorce Law Firm

At Goostree Law Group, we understand that most people do not have a deep understanding of investments and finances. We do not expect you to be a financial expert. We also understand that most couples divide household responsibilities, so it is common for one spouse to be the main money manager and for the other not to have a full picture of their finances.

Each of our attorneys has an average of 15 years' experience in divorce and family law, so you can rely on our knowledge and skill in all aspects of divorce, including the negotiation of financial settlements. We focus our practice on divorce, so we stay continuously up-to-date on the relevant laws and court rulings that may impact your case. You will appreciate the compassion with which we treat our clients as well as the careful attention we give to every detail of your case.

Financial Discovery and Analysis in an Illinois Divorce Case

Through the legal process of discovery, we will develop a complete inventory and valuation of all of your and your spouse's income, debts, and assets. This is important in all cases but especially in a high income, high net worth divorce.

Because every case is unique, we take the time to fully analyze every aspect of your marital finances. We may engage an independent forensic accountant for more complicated matters. We may also recommend that you consult with your own accountant or financial advisor about some decisions. This in-depth analysis enables us to make the strongest arguments at the negotiating table, where most divorce decisions are made, and also in court. Our goal is always to obtain the best possible financial settlement for you.

Goal Setting

We encourage our clients to develop goals for their post-divorce life. For example, where do you want to live, and what kind of lifestyle do you envision? Given your realistic goals, we can work efficiently to achieve them in your divorce settlement. If you are not sure where to start, you may want to consider divorce coaching. We have a Certified Divorce Coach on staff who can complement your attorney's legal services.

Trade-Off

Every case involves some trade-offs. For example, do you want the house or a greater share of a retirement account? Do you want a lump sum settlement or monthly maintenance (alimony) payments over a certain period of time? We will make sure you understand the full implications of each decision so that you can make wise choices. We will provide our well-considered opinion, but ultimately, you must decide what feels right for you.

Contact a St. Charles Divorce Lawyer for Older Couples With Financial Concerns

The attorneys of Goostree Law Group will advocate strongly for your interests in matters of divorce, family law, and criminal defense. We serve clients in the Kane County communities of St. Charles, Campton Hills, Elgin, Geneva, Batavia, North Aurora, Elburn, Kaneville, and LaFox. Contact us in our St. Charles office at 630-584-4800 for a free consultation.