When going through a divorce, especially a high-asset one, many people focus on how the court will divide property, investments, and other assets. However, asset division can also influence child support obligations. Understanding how assets affect child support helps...
A complex divorce in Illinois brings financial challenges, especially when considering tax implications. Knowing how taxes impact your settlement can help you avoid unexpected costs. Let’s explore some key tax factors to consider. Alimony and spousal support tax...
You and your spouse are heading toward a divorce. You both agreed that it’s the right move. At the same time, though, it’s going to take months before the entire process has been completed. During this time, you notice changes to your spouse’s pay. You find out that...
Legal separation is an option for couples in Illinois who want to live apart but are not ready to file for divorce. Some spouses choose separation due to religious beliefs, financial reasons or a hope of reconciliation. While legal separation does not end a marriage,...
Child custody orders are legally binding, but not necessarily set in stone. A modification may be possible when either a parent’s or the child’s circumstances have changed significantly. Before a modification is approved, the parent must provide valid reasons for the...
High-net-worth divorces often involve complex financial assets. Among these, retirement accounts like pensions and 401(k)s present unique challenges. Properly dividing these assets requires careful planning and adherence to legal guidelines. Identifying retirement...
Co-parenting a child with any kind of special needs brings unique challenges for separated and divorced parents. Those challenges, of course, vary depending on whether the child has a physical disability, mental health issue, chronic illness or something else. Since...
In high-asset divorces, determining how to handle intellectual property (IP) can be complex. Couples facing a divorce must navigate the challenges of valuing and dividing IP assets. These assets include patents, trademarks, copyrights, or even trade secrets, all of...
Divorce generally leads to uncertainty for the entire family. With exceptions for those who have very thorough marital agreements, most people aren't sure of what the courts may do with their property, future income and children. Parents either reach their own...
If you are getting a divorce, you may need to refinance your mortgage. It all depends on what you want to do with the house after your marriage ends. For example, many couples decide they are just going to sell the house. They have to split up marital property, and...
