Posted on December 28, 2023 in High Asset Divorce

Even though all people are different and unique, divorce is generally a difficult process to go through, regardless of your background and circumstances. Figuring out new arrangements like alimony, how you will divide parental responsibilities, who will keep the family home, and what will happen to any retirement funds either of you might have can be complicated and frustrating for anyone. When you and your spouse are a high-asset couple, there are aspects to the divorce settlement that can be even harder to settle. Suppose you and your spouse have considerable assets and are concerned about how they will be affected by a divorce. In that case, a knowledgeable lawyer with experience handling similar cases can guide you through this process and advocate for your rights and interests.

What Is Considered a High-Asset Divorce?

The term high-asset divorce does not have an official definition, but it refers to people with considerable money, property, and other assets. A divorce is generally considered high-asset when at least one spouse has a million dollars. In some high-asset divorces, both spouses have these considerable sources at their disposal. In others, one spouse has vast assets, and the other does not, which can complicate the divorce settlement

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 Posted on December 22, 2023 in Divorce

Many people who wish to end their marriage commonly consider divorce as their option. Others might not feel ready to take this major step, for a number of reasons. If your marriage is no longer working for you but the idea of divorce feels too extreme, at least for now, you might consider legal separation. A knowledgeable Kane County, IL legal separation attorney can explain what is involved and help you figure out the best path forward for you.

Why Choose Legal Separation?

No two people are the same. People have their own unique personalities, backgrounds, beliefs, and experiences that shape them into unique individuals. That is why every couple has unique dynamics and why different solutions work for different couples. While some couples who no longer wish to stay together will find divorce to be the most obvious solution, others might seek another option for several reasons, including:

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 Posted on December 19, 2023 in Divorce

The holidays are a time when families get together and forge cherished memories that can last a lifetime. But when the family’s parents have decided to get a divorce, things can become more complicated. If you are a divorced parent whose ex-spouse wants to make you change your holiday plans with your children, a knowledgeable Kane County, IL divorce lawyer can help you navigate this sensitive situation.

Why Might Holiday Plans Be a Source of Contention?

In some families with divorced parents, the parents might have different religious affiliations. This can make holidays difficult due to the parents’ differing assumptions about how a holiday should be spent. In some families, divorced parents might live very different lifestyles. If the parent with much more financial stability gets to have the kids for a holiday, the parents who live a more modest lifestyle might worry that the children will be given gifts and experiences that they would not be able to provide them with. In some families, one of the divorced parents might start dating someone and want to introduce that person to their children. This could make the other parent uncomfortable, knowing the children will be exposed to another adult whom they do not know themselves. This person could make an impression on the children or introduce them to religious practices that they do not want their children to adopt.

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 Posted on December 15, 2023 in Adoption

Gray divorce is a term commonly used to describe divorce between spouses who are 50 years old or older. The topic has been gaining coverage in recent years as the divorce rates for this age group have been increasing. There are several reasons for this, which will be described below. If you are in your fifties or older and find yourself considering divorce, a knowledgeable Kane County, IL divorce lawyer will be able to guide you based on their vast experience and ensure that your best interests are being fought for

What Are Some Unique Issues in Gray Divorce?

Because of the spouses’ ages, the life experience they have generally accumulated by the time they seek a divorce, and the length of time their marriage typically has lasted, there are several reasons why Gray Divorce is considered its own topic with its own characteristics: These reasons include:

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 Posted on December 11, 2023 in Prenuptial & Postnuptial Agreements

Many people have heard the term "prenuptial agreement" before, but not many know exactly what this agreement entails. The truth is, some legal knowledge is necessary for a prenuptial agreement to be understood. If you do not have a good understanding of the law, you might end up signing something that is not in your best interest. Maybe you were given a document to sign right before your wedding, and you did not think it would ever be relevant, so you signed it just to move ahead with your plans. Maybe your spouse's parents said they would not allow you to get married unless you signed it. Whatever the case, if you were forced to sign a prenuptial agreement that did not suit you, and now you are considering divorce and feel concerned about what might happen, an experienced Kane County, IL divorce lawyer can answer any question you may have and challenge the agreement in court.

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 Posted on December 04, 2023 in Divorce

Divorce settlements lay out how any marital assets will be divided. Some assets are easier to divide and some are harder. One of the assets that can be complicated to divide is a business. If either or both spouses own a business, figuring out how it will be divided requires the consideration of many factors. If not done right, it could affect the future of the business. While there are several ways a business can ultimately be divided between ex-spouses, it is generally a great idea to do something called a business valuation. If you are considering divorce but are concerned about how it might affect the business you own, an experienced Kane County, IL, divorce attorney can advise you on how best to protect your interests.

How Can a Business Valuation Impact My Illinois Divorce?

Regardless of the size of a business and whether it is a family-owned business, medical practice, investment firm, house cleaning company, or any other type of business you can imagine, figuring out what will happen to your business after divorce can be a complicated challenge. In general, there are three ways to deal with business ownership in a divorce:

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 Posted on November 28, 2023 in Property Division

While a lot of people are aware of the most common topics that generally need to be divided up in a divorce - child custody; alimony/spousal support; division of property, assets, and debts - there are some divorce issues that people are less aware of. You might be surprised to know, for example, that what happens to a family pet in divorce is an entire topic of its own.

Some people might consider pets property since they are animals and not humans. But in many cases, families consider their pet a member of the family. This can make it harder to consider a pet an item that needs to be distributed. If you are considering divorce but find yourself worried it could mean the end of your relationship with your beloved pet, an experienced Kane County, IL divorce lawyer can help you navigate the process and advocate for your rights and interests.

How Do We Decide Who Gets Our Pet if We Both Love Her?

When a couple gets divorced, it can be extremely complicated trying to decide where their shared pet will live. For the courts to be able to decide this, both spouses will need to gather and present evidence that supports their claims. In this way, decisions about a pet are no different from decisions about any other aspect of divorce.

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 Posted on November 22, 2023 in Divorce

While the concept of divorce is something most people are familiar with, the actual steps taken to make a divorce happen are not generally common knowledge. If you have never been through divorce proceedings yourself, it would be unusual for you to know what needs to be done. If you find yourself considering divorce and you do not know where to begin, an experienced Kane County, IL, divorce lawyer can explain to you all the steps that need to be taken and what all the terms mean so that you can move forward with knowledge and confidence.

Filing for Divorce

When a couple, or either spouse, wishes to get divorced, the first thing that needs to happen is that someone needs to go to court to file for divorce. Whoever does this is referred to as the petitioner, and the other spouse is referred to as the respondent. The petitioner needs to go to a court where they live. If they do not live with their spouse, they can also choose to file for divorce in a court where their spouse lives.

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 Posted on November 20, 2023 in Child Custody

Most people might think they have a basic understanding of what is involved in a divorce, but the vast majority are not familiar with what the most common divorce-related child custody terms mean. In general, if you have never experienced something yourself, you will be less familiar with it. The same goes for divorce and child custody matters. If you have never had a reason to gain an understanding of all the important factors in a divorce settlement where children are involved, the chances are you might lack some understanding of what all the terms mean. If you are a parent considering divorce for the first time and are not sure what all the terms mean, a Kane County, IL child custody lawyer can answer all your questions and help you represent your best interests with the knowledge and confidence you need.

Knowledge Is Power

It is safe to assume that newly engaged couples setting out to get married are not typically thinking about how they would split their assets in the event of a hypothetical divorce. Even so, prenuptial agreements and even postnuptial agreements are a way for married couples to plan for something they hope will never happen. When you are young and healthy, you do not necessarily want to think about your eventual death. Nevertheless, many people draw up a will years before it would be relevant just to help make future planning that much easier. However, there is no parallel document regarding child custody. Not only would it be unusual for new parents of a newborn baby to try to think about how they would arrange child care in the event of a hypothetical divorce, but no document or agreement currently exists in US law for parents to plan how they would raise their shared children in such a case.

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 Posted on November 15, 2023 in Divorce

Typically speaking, a divorce is not a simple process for anyone. Even if you and your spouse agree rationally on all the issues involved, there can be an emotional component. Once, you were committed to each other and now you are figuring out how to separate your lives. In addition to the emotional issues, there can be financial implications. In some divorce settlements, people can be responsible for covering any debt their ex incurred during their marriage. This can include education fees, investments they made, or payment plans that have not been completed. If you are considering divorce but are concerned about what will happen with your ex’s debt, an experienced Kane County divorce lawyer can answer your questions and explain any responsibilities you may have.

How Does the State of Illinois Rule on Distribution of Assets and Debts in Divorce?

There are two main methods used for distributing a couple’s marital assets and debts: equal and equitable. The method used in your divorce is determined by the state you are in. The state of Illinois follows an equitable distribution method. Rather than splitting the value of all assets down the middle and giving each spouse an equal share, an equitable division would dictate that several factors need to be taken into account:

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