High-asset divorces involve liquid assets greater than $1,000,000 and at least one spouse makes more than $500,000 per year with a total net worth of more than $5,000,000. They are significantly more challenging than a basic divorce due to the asset division...
Family Law
What should I know about deferred compensation?
Some divorces become complicated because of the complex nature of the assets owned by one or both spouses. Deferred compensation is one such asset. This form of compensation differs from other financial accounts in that a person can collect the money at a later date....
How to ease the traumatic impact divorce can have on children
In the U.S., almost half of all couples divorce. Generally, splitting is a good option when you need to maintain a stable, healthy family for your children. However, while divorce may be in the best interest of your children, it is still a traumatic experience. Kids...
How can I protect my joint bank account in divorce?
Since married couples often share ownership of bank accounts, it is likely you will have to divide a jointly owned account with your spouse in your divorce settlement. However, your divorce could take a nasty turn if your spouse empties the account money first. Some...
What will happen to debts during your divorce?
You likely have many questions and uncertainties when going into a divorce, and many of them surely involve the division of marital assets. While it can be relatively easy to understand the distribution of typical assets and finances, the allocation of marital debts...
Consider whether alcohol abuse should shift custody arrangements
Allegations of alcohol abuse during custody arrangements or modifications are serious claims. They may have serious impacts in Illinois courts as well. Proving these allegations may help get your children out of harm's way. Sometimes alcoholism seriously impacts the...
Tips for guiding your children through the divorce process
Divorce is often hard on the whole family. This can be especially true when it comes to any children that you share. When getting divorced, it is important to consider your children and how their feelings factor into what is happening. There can be many ways to help...
What happens in a high assets divorce?
If you and your spouse both had high-earning positions, you likely accumulated a lot of wealth. This is especially true if you were in a long marriage. While it is never wise to hide your finances, one spouse will sometimes do so. There are many things to consider...
Should you remain transparent about your finances during a divorce?
Most couples choose to merge their finances after marriage. When you decide to divorce, it may become complicated to divide your finances or personal property. Some spouses decide to hide their finances before a divorce, but hiding their assets can land them in...
Preparing a co-parenting plan that works for all
Your Illinois divorce might have been difficult, but if you have children, it’s important to focus on them first. You should know how to prepare a co-parenting plan that works for everyone. Think about your children first Keep a clear perspective on why you and your...