Posted on November 19, 2021 in Divorce

Although spouses may get divorced with the hope that they will no longer have to deal with each other in the future, for many couples this is simply not true. Responsibilities towards children can require parents to interact together for many years, and spousal maintenance - formerly known as alimony - can do the same. Illinois law allows for several types of spousal maintenance, and how long spousal maintenance will last depends on the unique circumstances of a couple’s divorce. 

Types of Alimony in Illinois 

There are three primary kinds of spousal maintenance in Illinois: 

• Temporary or interim maintenance - Frequently awarded to homemakers who have no income of their own, temporary maintenance is ordered while a divorce is ongoing. Temporary maintenance can cover the cost of running a household and raising children, and can also include the cost of a spouse’s attorney. 

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 Posted on November 16, 2021 in Divorce

A primary obstacle for many people seeking divorce is the potential expense. This is especially true for those who work as a homemaker and do not have an income of their own. Being a homemaker entails endless work, but it does not come with formal pay, and the prospect of hiring a divorce attorney may therefore seem simply out of the question for homemakers in Illinois. 

Fortunately, there are things you can do as a homemaking spouse to pursue divorce, even without an income of your own. You do not have to stay trapped in an abusive or untenable relationship forever. Here are some tips for stay-at-home parents considering divorce in Illinois. 

Start Preparing Now

Although you may not be earning an income, you likely have access to your and your spouse’s shared finances. Even if you do not, the time before the divorce is a great time to begin understanding what you and your spouse have in terms of assets and debts. Many resources allow you to check your credit for free, and although taking out debt may not be optimal, credit cards or lines of credit can give you access to money if you need it.

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 Posted on November 11, 2021 in Divorce

Some states divide marital property 50/50, giving both assets and debt equally to each spouse following divorce. Illinois, however, is what is known as an “equitable distribution” state. This means the law requires marital property to be divided in a way that is fair, but not necessarily equal. Many factors, such as the length of the marriage and each spouse’s future earning potential, will affect how property is divided. 

Understanding how the principle of equitable distribution is likely to affect the division of marital property in your divorce is an important part of planning for the future. In this blog, we will give a general overview of the property division process. A qualified Illinois divorce attorney can answer any further questions you have.

Preparing for the Property Division Process

Spouses who are getting divorced can make the process go faster and more smoothly by collecting necessary documents as early as possible. If one spouse is likely to make the divorce process difficult, it may be wise to obtain documents before even filing. Both spouses will need to create a list with supporting evidence that details their property and debts. This includes, but is not limited to, the following documents: 

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 Posted on November 08, 2021 in Family Law

Most parents feel that having children around for the holidays makes these special days even more magical. For parents who are going through a divorce, the prospect of not spending all the holidays with their children can be difficult to even think about. Figuring out a parenting plan that divides parenting time during the holidays might seem all but impossible. 

Parents who are struggling with this situation can take heart in knowing that many people before them have successfully managed to create parenting plans and new traditions that work well for everyone. Children will appreciate the predictability of a consistent parenting-time schedule and parents generally find that children adjust surprisingly well. If you are navigating holidays for the first time during or after a divorce, here are some tips to help ease the transition. 

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 Posted on October 27, 2021 in Divorce

Preparing to end your marriage is a serious decision that requires careful planning and analysis. Some couples who are unsure whether the relationship is completely over consider a temporary legal separation, rather than ending the relationship with a divorce. Before you make up your mind, it is essential to understand how legal separation and divorce differ in Illinois, as well as the potential benefits and drawbacks of both.

Divorce

The most important difference between divorce and legal separation is that divorce is final, while legal separation is not. Once a couple is divorced, each partner is free to get married again. For couples who are certain that their relationship has dissolved beyond the possibility of recovery, divorce is likely the best option.

During their divorce, couples must divide financial assets and debts, and resolve important issues like child support and parenting time. This is also true of legal separation, but the divorce process also provides the option of freezing assets due to a partner’s dissipative behavior or other financial risks.

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 Posted on October 19, 2021 in Asset Division

After a couple is married, combining finances, managing budgets, and running a household for many years is a very challenging endeavor and it will likely come as no surprise to most people that financial disagreements are one of the most common reasons couples in Illinois get divorced.

During the divorce process, marital assets must be divided and distributed. As with marriage, finances during divorce can be a very contentious subject. This can be especially true when one spouse is a spendthrift, has substance abuse problems, wantonly gambles, or otherwise wastes a couple’s assets. In cases like these, a temporary financial restraining order (TRO) may be necessary.

What Is a Temporary Financial Restraining Order?

Some states have automatic financial restraining orders that kick in once someone files for divorce. But in Illinois, a spouse must apply for a TRO. A TRO allows spouses to ensure the other spouse does not waste marital property during the divorce process. Many high-net-worth couples use TROs, but anyone can get one if they are filing for divorce and are worried their spouse will be reckless with finances.

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 Posted on October 13, 2021 in Finances and Divorce

Couples in Illinois who have worked hard to develop notable careers have also often accumulated substantial assets together. When a couple has liquid financial assets that are worth a million dollars or more, a couple can be considered high net worth. Spouses with a net worth of five million dollars are considered very high net worth while having over $30 million in assets earns a couple the distinction of being considered ultra-high net worth.

Whatever the exact value of a high-net-worth couple’s assets, there is no question that divorce becomes substantially more complicated when such a couple decides to separate. This blog discusses some of the unique challenges that these couples face during divorce.

A Longer Divorce Process

Unsurprisingly, larger and more complex financial assets contribute to a longer and more complex asset division process. The division of assets is notorious for being one of the toughest parts of a divorce, and especially when assets are difficult to value or when spouses cannot agree about how an asset should be divided. Inheritance, and the commingling of individually owned inheritance monies, can compound these problems. The same is true of spouses who attempt to hide marital assets.

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 Posted on October 12, 2021 in Finances and Divorce

While the marital asset division process in an Illinois divorce is fundamentally the same for everyone, couples or individuals with a high net worth have special considerations. Because high net worth assets are often complex, unique, or otherwise difficult to value, it is important to have the knowledge and assistance of a qualified Illinois divorce attorney and other financial professionals to help you throughout this process.

Are We Considered High Net Worth?

A person or couple’s “net worth” is the value of the assets they own, minus any debts or liabilities. The Securities Exchange Commission (SEC) is a governmental agency with the responsibility of ensuring fair market practices in the United States and the SEC defines a couple as being high net worth if their net worth exceeds one million dollars. A couple must also make over $300,000 a year in combined income.

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 Posted on October 09, 2021 in Finances and Divorce

One of the greatest mistakes people make during their Illinois divorce is not planning for life after the divorce is over. Because many spouses are covered under their husband or wife’s employee health insurance, they may forget about dealing with health insurance and find themselves scrambling for coverage.

This is especially true for spouses who have been out of the workforce for many years because they are stay-at-home parents or homemakers. Private health insurance coverage can cost hundreds of dollars a month and divorcees may struggle to find a plan they can afford. Fortunately, Illinois has a law that allows individuals to continue receiving health insurance coverage from their former spouse’s plan following the divorce. Although this option does not last forever, it can be a good option for someone who would otherwise be uninsured.

How Can I Stay on My Spouse’s Insurance Plan?

Someone who wishes to remain on their former spouse’s insurance plan following a divorce must notify the spouse’s employer within 30 days of the final divorce decree. The insurance company will then send the non-employee spouse notification of continued coverage and other appropriate forms.

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 Posted on October 05, 2021 in Child Custody

Life after divorce presents a unique set of challenges. Sharing parenting time with an ex-spouse can be very challenging, especially if that spouse refuses to follow the terms of the court-approved parenting agreement.

Illinois always considers the best interests of children when approving or making decisions about parenting agreements, and decades of research supports the idea that children do best when both parents can be involved in their lives. Illinois law, therefore, prohibits parents who share parenting time from moving children a long distance away without obtaining the consent of the other parent. It is important to understand Illinois child relocation laws and what your options are if your ex violates them.

When Can a Divorced Parent Move a Child Out of Illinois?

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