Posted on April 21, 2022 in Divorce

Divorcing couples have many important financial issues to consider. When one or both spouses own a business, the financial complexity of divorce is amplified. The situation becomes even more complicated if the spouses owned and managed a family business together. Some spouses in this situation decide to sell the entire business and divide the proceeds equitably. This gives both spouses the opportunity to pay off debts and start their post-divorce life with some degree of financial security. Other couples decide that one spouse will keep the business and buy out the other spouse’s share with assets of equivalent value. Another option is to continue running the family business together as a divorced couple.

Keeping a Jointly Held Business After Divorce

Owning a small or medium business is no easy feat. A fifth of all small businesses fail before the end if the business’s first year. Half fail within five years. If you own a successful family business with your spouse, you may be hesitant to make any changes that threaten the success you worked so hard to achieve. You and your spouse may be fully committed to the business and unwilling to give up your share of the company during divorce.

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 Posted on April 18, 2022 in Divorce

Did you know that over seven percent of adults in the United States suffer from major depressive disorder? Depression is extremely common. The illness, marked by persistent low mood, little interest in enjoyable activities, and feelings of worthlessness, is something many people struggle with on a daily basis. Studies show that the ongoing COVID-19 pandemic has only increased the incidence of depression and anxiety.

If you have depression, you know how deeply it can affect your life. Going through a divorce when you have depression only adds to the difficulty.

Strategies for Divorce When You Suffer from Depression

Divorce is stressful and sad under the best of circumstances. Ending a marriage when you suffer from a serious mental illness like depression can seem impossible. However, it is possible to get through your divorce and move on to a happier post-divorce life.

There is nothing that can make your divorce completely pain-free, however, the following strategies may help:

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 Posted on April 13, 2022 in Prenuptial & Postnuptial Agreements

Prenuptial agreements are useful for any type of couple. Individuals may use a prenuptial agreement to protect assets, such as a small business, in the event of divorce. Individuals who choose to sacrifice career advancement to stay home with children may use a prenup to ensure they will have access to spousal support if the marriage ends. Older couples who are getting married for the second or third time may have children from a previous relationship and choose to use a prenuptial agreement for inheritance reasons. The possibilities are nearly endless. However, prenuptial agreements may be completely worthless if they are not drafted properly.

Prenuptial Agreements Must Be Drafted Correctly

You and your soon-to-be spouse may trust each other to simply make plans verbally. They may assume that they do not need a formal agreement. However, prenuptial agreements must be in writing and signed by both parties to be enforceable. The parties must be of sound mind and fully agree to the terms of the prenup.

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 Posted on April 07, 2022 in Family Law

For any parent, the prospect of paying for college can be daunting. College tuition is becoming more and more expensive each year. Unmarried and divorced parents may be understandably even more concerned about how to finance their child’s higher education. Paying for tuition, housing, books, and other educational fees can be even harder to manage in a one-income household.

The average annual cost of attending an in-state public university is just over $25,000 in 2022. For a private university, that number more than doubles. If you are unmarried or divorced and you have kids, it is important to understand your rights and responsibilities regarding your child’s college expenses.

How Are College Expenses Divided If Parents are Divorced or Unmarried?

Most married parents work together to figure out how to pay for college tuition and related expenses. However, if parents were never married or have divorced, they may be confused about which parent is responsible for paying college expenses. Illinois is unique in that the law can require unmarried or divorced parents to contribute to their child’s higher education.

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 Posted on April 04, 2022 in Divorce

Before a divorce can be completed, divorcing spouses must address multiple issues including the division of marital assets and debts, parental responsibilities, parenting time, and spousal support. Some spouses are able to reach a decision through alternative resolution methods like mediation. Others can negotiate a settlement through their attorneys. However, when all else fails, a divorce case may advance to trial. Whether you have just filed for divorce or you are well into the process, it is important to know how divorce trials work in Illinois.

Divorce Discovery and Pretrial Conferences Precede a Divorce

Before a divorce goes to trial, the attorneys will gather all the relevant facts and information. There may be depositions, requests for production of documents, interrogatories, and more. The attorneys will use the information to develop their arguments.

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 Posted on March 28, 2022 in Divorce

Autism Spectrum Disorder symptoms can vary dramatically. Many children with autism struggle with social interactions, sensory overload, and changes in schedules and routines. Some are able to communicate these struggles to parents, teachers, and caretakers. Others are completely non-verbal. Whatever symptoms your child deals with, divorce is sure to have a major impact on your child.

As a parent of a child with autism or Asperger’s, it is important to know your options during divorce.

Parenting Plans for Children With Autism

Kane County parents who divorce will be asked to write up a parenting plan that describes how they will fulfill parenting duties. A detailed, well-written parenting plan can help you and the other parent ensure you are on the same page about parenting matters. A strong parenting plan can also promote consistency – something extremely important for children with autism. Your parenting plan will include information about:

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 Posted on March 21, 2022 in Divorce

Whether you live in a house, flat, apartment, or condominium, a home is often much more than a physical living space. In the midst of a turbulent marital breakdown, a home can become a place of refuge and familiarity. Understandably, many people are hesitant to give up their homes in a divorce. Some blindly fight for ownership of the home without considering the short and long-term consequences of homeownership as a divorced individual. If you are getting divorced, consider the following questions when deciding what to do with the marital home.

What is the Home Worth?

Before you can determine whether to keep the home or sell it, you must understand what the home is worth. In many situations, the best way to accurately value the home is to get the home professionally appraised. Make sure to consider not only the current market value but also the future value of the home based on the neighborhood and housing market.

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 Posted on March 17, 2022 in Family Law

Divorced and unmarried individuals in Illinois are often subject to child support orders. When the court orders child support, it is not a suggestion. The paying spouse or “obligor” is required by law to pay the child support. Failure to pay the support in full can lead to significant consequences. Court orders for spousal support, also called spousal maintenance or alimony, are the same. If you are required to pay child support or spousal support and fail to make payments, your wages may be garnished.

Wage Garnishment for Unpaid Support in Illinois

The term “wage garnishment” refers to the act of taking a portion of someone’s paycheck to pay debt or financial obligations. Illinois law clearly states that wage garnishment may be necessary if someone refuses to pay his or her child support or spousal support obligation. A non-paying parent may also be subject to property liens, driver’s license suspension, interception of tax returns, and other consequences. In some cases, a parent who fails to fulfill his or her support obligation may even be held in contempt of court. The parent could be sentenced to up to six months in jail.

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 Posted on March 14, 2022 in Divorce

Children greatly complicate divorce. Many divorcing parents worry about how the split will affect their kids. They also worry about how to manage a co-parenting relationship with their soon-to-be-ex. Parenting is already challenging enough. Parenting with someone to whom you used to be married is even harder.

Experts agree that children need predictability and consistency to feel safe. Finding a co-parenting strategy that works for you and your children and sticking with it is one of the best things you can do to help your children during this difficult time.

Traditional Co-Parenting Styles

Many divorcing parents remain on relatively good terms with each other. Although they no longer want to be married, they are able to remain respectful and cooperative for the sake of their children. Some co-parents are able to attend school functions, parent-teacher conferences, or even family vacations together.

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 Posted on March 09, 2022 in Divorce

In 1989, about ten percent of stay-at-home parents were men. That number had nearly doubled by 2016. As traditional gender roles fade and families take unique approaches to raising children and maintaining a home, more and more men are choosing homemaking and family life over a career. Furthermore, about 30 percent of modern wives make more money than their husbands.

If you are getting divorced, you may be worried about the financial consequences of ending your marriage. If you are disabled, out of work, or have chosen to sacrifice your career in lieu of family or household responsibilities, you may be dependent on your spouse’s income to make ends meet. Fortunately, divorcing men may be entitled to alimony or spousal maintenance.

Divorcing Husbands May Be Entitled to Spousal Support

Alimony, spousal support, and spousal maintenance are all terms used to describe payments that a spouse makes to the other spouse after divorce. Traditionally, the payers of spousal maintenance were men, and the recipients were women. However, men have the same right to spousal support as women. Federal and Illinois state laws do not discriminate against divorcing spouses on the basis of gender.

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