Alimony payments in Illinois can seem very complicated or hard to obtain. That’s because the Illinois courts have set forth high standards for awarding alimony and how long it should be paid for. Even with the discretion of the court, even the state of Illinois knows...
Year: 2021
Hidden assets and divorce
Most divorces in Illinois don’t happen out of the blue. Divorces usually follow a breakdown of the marriage that might have been ongoing for years. During this time, there is usually a serious lack of communication and a loss of trust. There may also be separate bank...
Protecting business interests with a postnup
Many married couples in Illinois find that financial issues become a source of contention in their relationships. One way of dealing with this problem is to sign a postnuptial agreement. A postnuptial agreement is similar, in some ways, to a prenuptial agreement in...
Three popular ways to valuate your business
If you're the owner of a business in Illinois, it's understandable to want to know how much your company is worth. Fortunately, there are many ways to achieve this goal. When it's time to valuate your business, try one of the following methods. Asset-based valuation...
Factors in awarding maintenance
During a divorce, calculating alimony, child support, and assets can quickly become overwhelming and complicated, especially if you have a complex asset case. If you are in the process of getting a divorce in Illinois, understanding the factors that are often...
How will retirement benefits get handled during divorce?
If you're going through a divorce in Illinois and you have retirement benefits, your former spouse may try to get a share of this income. It's a good idea to learn what happens to retirement benefits while going through a divorce. How retirement benefits get divided...
What are the rules about spousal support?
Did you know that Illinois recognizes the dissolution of marriages and civil unions as opportunities for awarding spousal support? Moreover, it’s a common misconception that only a husband pays for this. Following is important information regarding spousal maintenance...
Costs don’t end when the divorce decree is signed
A contentious divorce can cost each party tens of thousands of dollars. The spending rarely ends when the divorce decree gets signed, and there are costs that will carry on far after you and your spouse officially become exes. Where will you live? The biggest future...
How divorce could impact your business
Illinois is an equitable distribution state, which means that your business could be subject to division in a divorce. This may have very real impacts on your company's operations. You must take care to keep the business running smoothly no matter how bad the turmoil...
What financial struggles plague grey divorcees?
Grey divorcees often face unique hurdles in the aftermath of divorce. Many of these differences in struggles stem from the fact that grey divorcees are at a completely different place in life than 20 to 30 year old couples. For example, you will face entirely...