Something that can certainly make a divorce more complicated in Illinois is the ownership of specific kinds of assets. The ownership of real estate, business interests and other assets present peculiar challenges to the court in regards to how split up those assets...
When a couple in Illinois makes the decision to end their marriage, the process of dividing marital assets often creates a host of issues. While bank accounts, stock holdings and real estate are routinely divided by the local courts, many divorcees have questions...
Many divorced parents in Illinois have adopted co-parenting. This is a situation is where the parents are no longer romantically involved but they both assume responsibility for raising their young children. Communication and empathy are essential in co-parenting...
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...
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...
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...
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...
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...
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...
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...
