Planning a wedding is exciting, but it's also smart to consider potential bumps in the road, like divorce. While nobody wants to think about it, a premarital agreement can help protect both partners financially if things don't work out. But what about stock options...
If you collect things, the thought of dividing them in a divorce may be upsetting. Whether you collect art, antiques, classic cars or rare coins, you could stand to lose some of them when you end your marriage. You might not need to worry so much if you put a pre or...
Illinois courts seek to divide property equitably when asked to rule on a divorce. They do not have time to compile a list of all the assets you hold, so expect each spouse to present an honest list of assets. Once the court has this list it can determine which assets...
Lifestyle plays an important role in determining child support in high-asset divorces. When parents separate, the goal is to maintain a similar standard of living for the children despite the financial changes. This ensures that the children experience minimal...
There will be big changes in the future once you decide to end a marriage. Among the many things to consider if you or your spouse have filed for divorce is what this means for your retirement. Illinois is an equitable distribution state, meaning the courts will...
When a marriage reaches a point where reconciliation seems unlikely, couples may consider ending their union through divorce. However, some may be uncertain as to whether separation is necessary before they could obtain divorce in their state. In Illinois, as in many...
Unless you and your spouse are both self-supporting, a large income discrepancy must exist between you. So, during the divorce process, Illinois courts made you, as the higher-earning spouse, pay spousal support or maintenance to ensure that your lesser-earning spouse...
Navigating property division can be complex, especially when one spouse has taken the responsibility to earn money for the family while the other has dedicated their time to homemaking. Nonetheless, understanding equitable distribution is vital in ensuring a fair...
If you get a divorce, you may cede your Illinois home to your spouse. However, if your name is still on the mortgage before, during or after the divorce, you could still be liable for payments even if you no longer have a right to the property. There are several ways...
Looking ahead can be useful when you are about to go through a divorce. You may already be anticipating and thinking about the various aspects of the process, such as property division and spousal support. Nevertheless, you cannot skip the initial steps of the...
