Residents of Joliet and nearby counties of Illinois will want to learn more about divorces that include physicians. How is the medical practice seen? The medical practice will receive consideration as an asset whether the doctor is part of a group practice or a...
Year: 2021
Important alimony laws to know in Illinois
It's a common misconception that the higher-earning spouse has to pay alimony to the other in a divorce. In some situations, this is true, but if both spouses have jobs and won't struggle financially, then the judge might not see alimony as necessary. Factors...
Divorce and your finances
Prepare yourself for the financial implications of a divorce in Illinois. Even prenups are contested. In a split, money matters are often the most volatile negotiation. Do your due diligence, walk through the law and grasp the technical aspects. Here are several...
What impact does divorce have on Illinois businesses?
About half of the marriages end in divorce, and some people have more assets to distribute than others. Having business interests makes it more complex. No matter the position in the company, a person can plan for divorce by understanding the major impacts of ending...
Dividing retirement assets during a divorce
Anyone who is undergoing a divorce will worry first about what happens to the tangible assets. These include the funds that you find in a retirement account, whether it's a 401(k) or a pension plan. There are different rules and conditions that a divorcing couple in...
The basics of marital and separate property in Illinois
When divorce proceedings begin, you may get confused about how the divorce will affect your assets. It is important to understand what types of property are separate and marital, as this often plays a role in divorce settlements. What is marital property? Marital...
Does a job change necessitate child support modification?
If you are a non-custodial parent in Illinois, do you have to increase your child support payments if you change jobs? The answer is that it depends. Either you or your ex-spouse can petition for a change in child support payments if you meet specific criteria....
How can experts help you during your divorce case?
Some individuals in Illinois who are preparing high-asset divorce cases will find that some experts can provide additional assistance during the process. Financial experts can help you during the planning of the divorce, the proceedings themselves and even with your...
Some statistics about divorce you need to know
If you have recently gotten married in Illinois, you and your spouse are looking forward to many years together. Of course, divorce is something that happens often. No couple thinks about it when they first tie the knot, but it can happen. You might want to know a few...
How to protect real estate in a divorce
Divorce for wealthy individuals can be challenging because there are significant assets to divide. That is especially true with real estate, which is illiquid and difficult to manage. For Illinois residents, protecting real estate portfolios during a divorce is a...