A prenuptial agreement (prenup) is a contract between two people before marriage. It outlines how assets, debts and other financial issues will be handled in the event of divorce. Prenups have sometimes been viewed in a negative light. They can be seen as planning for...
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,...
People contemplating divorce in Illinois often have many questions about the process. They aren't sure what may happen with their property or with their children. For others, the main concern is what might happen with their pets. People love their cats, dogs and other...
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...
Starting a business with your spouse may have seemed natural and simple when you were married. You were already spending much of your time together, and your finances were commingled, so becoming joint business owners made sense. Unfortunately, you and your spouse...
Prenuptial agreements, or “prenups,” are not the only contracts that allow couples to clarify and protect their financial interests. Postnuptial agreements do the same thing. As the names imply, the only main difference between the two is whether a couple signs them...
Divorce for the average American couple is not an easy process. The stress of figuring out everything from child support to dividing up finances can be quite taxing. However, divorce can be even more complicated when a couple has considerable wealth. Wealthy couples...
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...
