An intangible asset is a property without physical form but may have significant economic value to the owner. Illinois divorce courts treat such assets as tangible pieces of marital property, assigning value and dividing them between the two spouses based on their...
Joliet Family Law Blog
Divorce and executive compensation
A divorce involving Illinois spouses with significant assets could involve complex negotiations for a fair settlement. Sometimes, one party might have substantial assets and a net worth more significant than the other. The one of lesser means may need to look closer...
Divorce and your retirement
Ending your marriage may have a significant impact on your finances both now and in the future. For example, it may make it difficult to afford your Illinois home or essential items such as food or clothing. It's also possible that taking such a step may force you to...
Dealing with a reverse mortgage in a divorce
Illinois residents who are 62 years of age or older often take out reverse mortgages instead of home equity loans. A homeowner does not make payments on a these loans as long as the property remains their primary residence, and reverse mortgages, which are called home...
How to save children from the negative effects of divorce
While divorce in Illinois can be difficult enough for the spouses involved, it’s often the children that suffer most. Those who are considering filing for divorce should consider the fact that how they proceed through this legal matter can negatively affect their...
Understanding interspousal transfer deeds and when they should be used
At times, married couples who have acquired property together need to transfer the interest from the property from one spouse to another. In Illinois, married couples can use an interspousal transfer deed to do just that. While these types of deeds effectively reach...
What should you do with your home when you divorce?
Getting a divorce is often an emotional rollercoaster. It’s even more complicated when dealing with property. What to do with the family home is a question that many divorcing Illinois couples face. Here are options to help you decide what to do with your family home...
Dealing with your art collection in a divorce
If you and your spouse have collected antiques and art during your marriage, those collectibles can comprise a considerable portion of your marital property. Yet, valuing those items when contemplating divorce in Illinois can become difficult. Here is what you can do...
How divorce affects your business, and how to protect it
Owning an Illinois business is a significant accomplishment. However, if you’re going through a divorce, you might worry that everything you’ve built will come crumbling down. This is how a divorce can impact your business and how you can protect it. Effects of...
Making the holidays happy for kids during a divorce
The holidays are a time of joy, family and togetherness, but they can be difficult during a divorce. Your children might have a particularly hard time while one parent is out of the home. This is how to make your Illinois holidays happier for them during your divorce....