Businesses are quantifiable assets in an Illinois divorce subject to equitable distribution. First, the court will require the valuation to determine how to divide the business, especially if liquidation is necessary. How do you value a business for a divorce? In...
A crucial element of divorcing with children is addressing their needs, and those needs change as children get older. If you have a child nearing college age, you will need to address college costs with your ex-spouse. Questions to consider about your finances Start...
After divorce, one spouse might require financial support to live independently. Each separation is unique, and the courts evaluate all the circumstances when determining if financial support is necessary. Knowing the answers to these frequently asked questions about...
While it might be easy to know who the mother of a child is, determining paternity can be challenging. Sometimes the court must decide this. According to the U.S. Census Bureau, more than 25% of all men in the United States have at least one biological child. Those...
When lovebirds marry, the expectation is that the relationship will last forever. Despite best intentions, a large number of marriages wither on the vine. If yours is ending, the question of alimony looms large. You are likely wondering what factors Illinois courts...
Divorces can be contentious and complex. They can not only impact your emotions but the more practical aspects of your life as well. This can be particularly true when it comes to your property. If you are looking to understand more about how your property is divided...
Splitting assets is an expected part of a divorce. However, the procedure can be more challenging when you and your spouse own valuable property, businesses or retirement accounts. If either of you has an extensive financial portfolio, expect a thorough investigation...
When you have a child with someone outside of marriage in Illinois, you need to take certain steps if you wish to have legal rights over your son or daughter. Before you obtain these rights or have your name printed on your child’s birth certificate, you need to...
Creating an agreement that divides property equitably in a divorce can be challenging. Illinois law divides marital property but not separate property. It can be complex to determine which assets are individual and which you share with your spouse. In some cases, a...
Having a successful career should not come as a detriment should you need to divorce. However, in some instances, high-asset marriages may end in one spouse going to great lengths to try and come out with more of the marital pot. Concealing marital assets is a problem...