In many divorce situations, the court will award both spousal and child support to one person. If this happens in your case and you are the one paying, you may wonder what will happen if the amount the court awards is too high and leaves you barely any money to live...
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Joliet Family Law Blog
3 ways to help protect your financial interests amid divorce
When your Illinois marriage ends, you must figure out how to divide up any assets and debts you share so that you may start fresh on your own. The steps you take while your divorce is ongoing help determine your financial big picture. So, it is wise to take the time...
What are your options for splitting your private biz in divorce?
Before you and your spouse can divide property in your Illinois divorce, you will need to identify marital assets and assign a value to them. When it comes to assets such as bank accounts and homes, not much guess work is involved. However, if you and/or your spouse...
How might a divorce split-up a family business?
Family-owned enterprises may have options to consider during a divorce, including selling the business and splitting the proceeds. If you plan to continue operating a business after your divorce, however, you may also buy out your spouse, just as you would a partner. ...
How to divide a business in a divorce
Dividing up assets during a divorce is challenging enough, but when the couple is in business together, there are even more complications. If each is a co-owner, there are usually three ways to proceed when deciding what to do about the company. In most cases, there...
Understanding “the 20/20/20 Rule” in military divorces
Any divorce case can be complex, yet there are certain cases whose circumstances may naturally contribute to even more difficulties. Divorces involving military members in Illinois involve a number of complexities, one of which is the continued access to military...
Alternatives to dividing a 401(k)
Before you come to a property division agreement with your spouse, you will need to list your assets and their value, and that includes your retirement accounts. The balance of the account may not all be marital property, though, if you owned the account before you...
What do you plan to do with your home for the divorce?
Deciding what to do with the marital home in divorce requires knowing all available options. Do you know the most favorable option for you and your ex-spouse? To help, see what U.S. News & World Report says about the matter. Depending on your circumstances and...
How can you tell if your spouse is concealing assets?
Getting divorced may make you aware of things about your spouse that you never realized. Sometimes, these realizations can create shock and anger. Dealing with a spouse that lies can complicate your divorce especially as you try to negotiate a settlement. If you...
Make provisions for college education when you divorce
No matter how old your children are when your marriage ends, you want to make sure they get the best possible start in life. In Illinois, state law actually requires parents to provide for their children as they pursue education after high school. When negotiating...