It’s natural to have a lot of questions about your finances when going through a divorce in Illinois. There’s a lot of uncertainty and expenses that go into separating your finances, not to mention planning for life after the divorce. Some Illinois residents employ a...
Year: 2022
Financial independence after divorce
When spouses file for divorce, many different plans might run through their minds about post-marriage life. Upon dissolving the marriage, they generally go their separate ways and settle into new living and, possibly, working arrangements. Some may have serious...
Understanding the different effects on divorce on kids
The decision to seek a divorce is often the result of a long and difficult journey between spouses. When they have children, they might question their choice even more, particularly as they might struggle with the idea that divorce causes irreparable harm to children....
Prepare for the most common retirement issues with your spouse
Each year, many Illinois residents decide that it's time to retire. During this time, you may imagine many different scenarios playing out. Hopefully, retirement is full of nothing but positive experiences for you and your spouse. With that said, it never hurts to...
How does spousal support work in Illinois?
Illinois changed its spousal support laws in 2019. Spousal support isn't a given. Whether one partner receives financial assistance often depends on whether they need it to transition back into the workforce. Spousal support calculation It's easy to estimate how much...
Factors that affect the amount of alimony in Illinois
When going through a divorce in Illinois, the court will divide your marital assets fairly depending on the circumstances of your marriage. On top of that, they could also award you or ask you to pay alimony. If they do, some factors that might affect the amount...
Handling a divorce when you own a medical practice
When you are going through a divorce in Illinois, it is important to have a plan for how you will manage your medical practice. Trying to run a business while dealing with the stress of a divorce can be difficult, and it is important to make sure that you do not let...
Protecting your financial interests during divorce
If you are an Illinois resident who is about to begin divorce negotiations, you should take steps to protect your financial interests. Going into the negotiations knowing your financial situation and with clear post-divorce goals can help you achieve a fair...
Value assets carefully during your Illinois divorce
When you're involved in a divorce, it can be a stressful period in your life. Taking time to examine each possibility involved with your breakup can be critical. Thinking clearly while in this position is essential to avoid making financial mistakes that negatively...
Divorce valuation: active vs passive appreciation
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...