The financial aspect of divorce in Illinois is often the most contested element, especially if there are significant assets involved. One key consideration is deciding between active and passive appreciation for assets that one partner owned during the marriage and...
Joliet Family Law Blog
Planning your taxes during a divorce
Getting a divorce in Illinois can be a complex affair. There are many details to consider. The welfare of your spouse and any children you may have will be an issue. There will also be the issues of any taxes that must be paid. This is a matter that will need the aid...
Keeping real property in a divorce
In the state of Illinois, any property held inside of a marital estate may be divided in a final divorce settlement. This means that any rental properties, commercial holdings or lots of land that you own could be ceded to your spouse. However, it may be possible to...
Dividing retirement accounts in a divorce
Divorce comes with several financial changes that can be difficult to navigate or understand. If you have retirement accounts, you'll need to know what to expect if you're planning to end your marriage. If you're an Illinois resident, here are some important details...
Alimony and child support: what’s the difference?
Divorce often means that couples have to figure out several financial issues, such as ownership of the home that the couple once shared and how to divide their debts. Divorcing parents must also come up with a plan to support their children. If you're an Illinois...
Executive compensation in a divorce
Getting a divorce can be a challenging process but ending your marriage with a millionaire comes with its own set of obstacles. There are several assets involved in a millionaire divorce, which means property division is a large part of the legal process. If you're an...
Handling a pension plan during divorce
Are you planning to end your marriage in Illinois? This step will lead to a major change in your life, but first, there will be many issues that need to be brought to a satisfactory conclusion. One is the status and possible division of your pension plan. Here is how...
Divorce and your art collection in Illinois
Art pieces are some of the most valuable assets you could own in Illinois. They are not affected by inflation, and their value grows significantly with time. If you have a collection, you may be wondering what would happen during a divorce. Keep reading to find out....
How can you break up your finances during a divorce?
Illinois married couples going through a divorce have to transition to their single lives. One aspect of decoupling involves breaking up the finances. Joint bank accounts If you and your spouse have joint bank accounts, now is the time to separate them. You will want...
Can someone evaluating your child custody case be wrong?
Residents of Joliet and other nearby areas of Illinois might want to learn more about those who evaluate child custody during divorce. These people are human, and humans sometimes make mistakes. According to the Psychological Center For Expert Evaluations, work...
