Facts about Spousal Maintenance in Illinois
We understand that the availability of spousal maintenance can be a considerable factor in whether a spouse wishes to pursue divorce. If there is an income disparity between divorcing spouses, spousal maintenance may be available. For the lesser-earning spouse, knowing that spousal maintenance is available and at what level may give the spouse more security when deciding […]
Financial Disputes Can Lead to Divorce
Most marriages are entered into with good faith and with good intentions. Unfortunately, after the honeymoon phase, the daily routine can turn into a daily grind and moral and respect can fall to an all-time low. Many factors might play a part in the demise of a marriage with financial stress being a lead contender. According to […]
Can You Divorce Away Marital Debt?
Money and debt are two of the biggest causes of divorce. For many of our clients dividing debt between spouses is one of the most stressful aspects of the divorce process. Parties often disagree as to who should be responsible for paying off debt after the divorce is final. Debts most commonly have to be divided are: […]
Money over Marriage: Financial Implications of Divorce
Couples entering the honeymoon phase are so excited that the nuts and bolts of marriage often take second place. The financial aspects of marriage can be tricky territory with spouses sometimes leading with their hearts and not their heads. About 40 to 50 percent of married couples in the United States are divorcing.The question of earnings and […]
High Asset Divorce: Planning Your Strategy before You File
When it comes to divorce, the planning you do now can greatly impact your future. This is especially true in complex, high net worth divorces where the earning potential or assets of one party is significantly impaired. If you are a dependent spouse and about to embark on a divorce, know how to protect yourself against a […]
Financial Security after Divorce
If you are going through divorce or anticipating marital dissolution, there are seemingly hundreds of things to think about and to plan for. Figuring out your post-divorce financial plan is one of the most important things you can do to ensure that you are set once the divorce is finalized and you are living on your own, […]
Understanding Marital Property
If you are facing divorce, the division of assets can be one of the more daunting aspects of the process. Not only is there an emotional component to doing so, but it can be difficult to determine what of your possession are considered eligible for equitable distribution, and what is considered personal property. A basic rule of […]
Preparing Financially for Divorce
In the middle of divorce, financial decisions are among the most difficult and complicated to make. In the past, when a couple was divorcing, it was often the woman who ended up without anything, especially in states where there was no equal distribution property law and the woman did not work outside the home. These days, […]
Divorce Finances: Protecting Yourself Financially after a Divorce
Because a divorce can be such an emotionally draining experience, it is natural to breathe a sigh of relief after it is over. However, even after a divorce there is still important work to do. You need to take steps to protect your financial future. Check Your Accounts Often in a divorce there is a court order […]
Hidden and Wasted Assets during Divorce
The divorce process relies on both sides to disclose all of their assets and relevant financial records to allow judges to make fair decisions about the division of property. When one spouse hides assets or wastes the marital assets on purely personal pleasure, it threatens to undermine the entire system. Uncovering Hidden Assets One of the […]
Division of Property: Ramifications of Moving out of the Family Home during Divorce
When you are going through a divorce or approaching the beginning of marital dissolution, the separation of family items and assets can be both one of the most emotionally difficult and legally contentious part of the process. The family home – usually part of the division of property negotiations – is one of the most important assets […]
Health Insurance after Divorce
Healthcare has been a trending news topic for several years now, with the passage of Obamacare and the extension of insurance policies for millions of uninsured Americans. So if you are headed for divorce and have to reconsider what type of health insurance plan you will enroll in, it may be last on your list of things […]
Preparing for Divorce: Getting Finances in Order
Finances during marital dissolution can be one of the most difficult aspects of the process, and many people fail to take appropriate steps in order to maintain financial security after the divorce is finalized. The most important step to finding financial stability after divorce is to speak with a qualified family lawyer, who can help you to […]
Credit Card Debt and Divorce
When you are going through a divorce, financial concerns may feel like the last thing you want to consider. After all, when your family and emotional life is crumbling around you, dealing with credit card debt, mortgage payments, and property division can seem almost overwhelming. Dealing with financial issues, however, is one of the most important […]