Subscribe to this list via RSS Blog posts tagged in Kane County divorce attorney

IL divorce lawyerAs part of your Illinois divorce process, you and your spouse will be asked to submit a financial affidavit that lists your assets and income. This financial data is vital to obtaining a fair divorce settlement. Asset division, child support, and spousal maintenance are all contingent on divorcing spouses’ financial circumstances. If a spouse omits income sources, underreports business revenue, hides assets, or otherwise falsifies data on his or her financial affidavit, decisions about these divorce issues will be based on inaccurate information. Furthermore, lying about finances during divorce is unlawful. A process called forensic accounting is often the best way to uncover the truth about a deceitful spouse’s finances during divorce.

What Do Forensic Accountants Do?

Forensic accounting refers to an investigation into a spouse’s property, income, debts, and expenses. The more complex a spouse’s financial portfolio, the more in-depth this investigation will need to be. A forensic accountant is a financial professional who has specialized auditing, accounting, and investigative skills. He or she will work closely with your divorce attorney to thoroughly examine your spouse’s finances and discover evidence of deceit. Tax returns, bank statements, credit card statements, business contracts, invoices, mortgage applications, and other documents can all provide clues about hidden assets.

Methods for Hiding Assets During an Illinois Divorce

There are many different ways that a spouse may lie about finances in order to manipulate the divorce settlement or judgment. Financial deception is often used in an attempt to pay less in child support or spousal support or keep the other spouse from receiving the property division settlement he or she deserves. A deceptive spouse may hide assets by not reporting the assets or transferring assets to an unknown bank account. Spouses may also transfer assets to friends, family members, or coworkers. The Internal Revenue Service (IRS) is also sometimes used as a hiding place for assets. By “accidentally” overpaying the IRS, the spouse essentially loans the IRS money that is then returned to him after the divorce is finalized. Spouses may also undervalue assets, report lower than actual business revenue, or exaggerate debts and expenses in an attempt to sway a divorce settlement in their favor.

Contact a Kane County Hidden Assets Lawyer

Whether your divorce case is resolved through lawyer-assisted negotiations or courtroom litigation, accurate and complete financial information from both parties is crucial. If you suspect that your spouse is hiding assets, underreporting income, or otherwise lying about his or her finances, you need a divorce attorney who can protect your rights and advocate on your behalf. Call Shaw Family Law, P.C. at 630-584-5550 today and schedule a consultation with a highly experienced St. Charles divorce attorney to learn how we can help you get the divorce settlement you deserve.

 

...

IL divorce lawyerGetting a divorce, or dissolution of marriage as it is called in Illinois, is not reversible. Some married couples who are having relationship problems may know that they want some space apart, but they are unsure of whether or not divorce is the right choice. This is just one situation in which a legal separation may be beneficial. Couples who get a legal separation are still technically married so if they choose to reconcile, they will not be required to get remarried. If they do not decide to continue the marriage, divorce is still an option. Most importantly, legal separation offers married couples a way to address issues such as property division, allocation of parenting time and responsibility, and spousal maintenance without the finality of divorce.

Illinois Separation Process

It is important to note that there is a difference between a physical separation and a legal separation. A married couple is not legally separated until they are granted a separation through the court. In order to be granted a legal separation in Illinois, at least one of the spouses must have lived in the state for a minimum of 90 days and the spouses must be living apart. If a spouse wishes to file for separation, he or she will need to file a petition for legal separation and a summons with their county’s Circuit Court. The petition and summons is then served to the other spouse and a date for a hearing is set. If the spouses have already resolved issues such as the allocation of parental responsibilities, child support, division of assets, and spousal maintenance through a separation agreement, the judge will likely grant the separation after this initial hearing. If the parties have not reached an agreement about one or more of these issues, they may need to attend an additional hearing. The authority of Illinois courts to divide assets and liabilities during a separation is much more limited than it is during a divorce. The court can only include asset division in the order for legal separation if the spouses have reached an agreement regarding how their assets and debts should be divided.

Benefits of Legal Separation

There are many different reasons that a couple may choose to get a separation instead of a divorce. Some couples are simply not sure whether or not they are ready to divorce. Other spouses get a legal separation in lieu of a divorce because divorce is prohibited by their religious or cultural beliefs. A spouse may also choose to stay married and obtain a separation so that he or she can still receive benefits such as social security, health insurance, or pension benefits. A legal separation is an effective way for a married couple to separate their finances and resolve issues such as child custody without ending the marriage. If you are interested in learning more about the legal separation process in Illinois, contact an experienced divorce lawyer.

Contact an Illinois Family Law Attorney

Legal separation does not end a marriage. However, it does allow spouses to resolve issues including property division, child custody, spousal maintenance, and more. To discuss whether or not a legal separation is right for your unique situation, contact Shaw Family Law. Call our office today at 630-584-5550 and schedule a free, confidential consultation with a seasoned St. Charles divorce lawyer.

 

...

IL family lawyerTypically, the more complex a divorcing couple's assets, the more complex the property division process will be. Dividing bank accounts and personal property like vehicles and household furniture is often much more straightforward than dividing a small business. First, the business must be classified as either marital or nonmarital property. Next, the business must be properly valued. Divorces involving businesses are often complicated, so getting guidance from an experienced divorce lawyer is crucial.

Is The Business Considered Part of the Marital Estate?

You and your spouse have the option to design your own property division arrangement during divorce. You may be able to negotiate property distribution concerns with help from your prospective attorneys or you may be able to reach an arrangement during family law mediation. If you cannot reach an agreement, the court will intervene and make property division decisions on your behalf. In Illinois, courts make property division decisions based on the theory of “equitable distribution.” Marital property, meaning property acquired by either spouse during the marriage, is divided in an equitable, or fair manner. Nonmarital property includes property acquired before the marriage, gifts, and inheritance. Nonmarital property is not divided and is instead assigned to the spouse who owns the property. If you acquired your business during the marriage, it will most likely be treated as a marital asset. If your business was inherited, received as a gift, or was obtained before you got married, it will likely be classified as nonmarital property.

Valuing a Business During Divorce

If a business is considered a marital asset, the court will use the value of the business during property division decisions. There are several ways to determine the fair market value of a business. The “income approach” to valuing a business involves calculating the present value of the estimated future income from the business. In an “asset approach,” the total value of the business’s assets is divided by the business’s liabilities. Another method for determining the value of your business is the “market approach” which estimates the approximate value by comparing the business to similar businesses that have recently sold. The value of the business will be used to determine how marital property is divided. If one spouse retains ownership of the business, the other spouse will likely be assigned marital property of similar value. Divorcing spouses may also decide to sell the business and then split the proceeds. In some cases, a divorcing couple may even decide to retain joint ownership of the business after divorce.

Contact a Kane County Business Valuation Lawyer

Deciding how to handle a business during divorce can be quite challenging. You may be unsure of what the best option is for your unique situation. For dependable legal guidance regarding property division, business valuation, and more, contact Shaw Family Law, P.C. Call our office at 630-584-5550 today and schedule a consultation with a skilled St. Charles divorce attorney.

 

...

IL divorce lawyerDivorce is not only a romantic separation; it is also a financial separation. Determining how assets and debts should be distributed to divorcing spouses is often one of the most complicated parts of the divorce process. Division of assets is made even more problematic when a spouse is not willing to be transparent about his or her financial circumstances. Spouses may attempt to conceal assets, understate income, overstate debts, or use other strategies to gain an unfair advantage during property division. If you are planning to divorce and you have reason to believe that your spouse may be hiding assets or otherwise lying about financial resources, an experienced divorce lawyer can help.

Financial Deception During Divorce

In order for a divorcing couple to fairly divide marital assets during divorce, each spouse must be honest and forthcoming about his or her financial resources. However, some spouses purposely lie about their financial circumstances in an attempt to manipulate property division, child support, or spousal maintenance determinations. Typically, the more complicated a spouse’s financial circumstances are, the easier it is for him or her to hide assets during divorce. If a person owns multiple bank and brokerage accounts, trusts, rental properties, vacation homes, stock options, deferred compensation, retirement plans, a business or professional practice, or other complex assets, there are many opportunities for him or her to be deceptive. However, spouses with simple financial portfolios may also lie in order to gain a financial advantage during divorce.

A spouse who is attempting to sway the divorce settlement through hiding assets may fail to report assets or revenue streams, claim that certain assets were lost, or transfer assets to a third party. He or she may:

  • Underreport income on tax returns
  • Purchase expensive items and then undervalue or “forget” about these items
  • Transfer stock to friends or business partners
  • Transfer personal assets to a “dummy” company, or a company that exists only on paper
  • Withdraw cash and hide it somewhere or “loan” cash to friends and family members
  • Intentionally overpay the Internal Revenue Service so that money is hidden during divorce and then refunded after the divorce is finalized
  • Postpone salary increases, new contracts, bonuses, or commissions until after the divorce

These are only some of the ways that a spouse may hide assets during divorce. Hiding assets is not only unethical, but it is also against the law. If a divorcing spouse is caught hiding assets, the court has the authority to assign a greater share of the marital assets to the innocent spouse. The spouse who hid assets may also face steep fines and other serious consequences.

Contact a St. Charles Hidden Assets Lawyer

If you believe that your spouse may lie about financial resources during divorce, you need an attorney who can help you uncover the truth. At Shaw Family Law, our experienced Illinois divorce attorneys collaborate with forensic accountants and other financial experts to expose financial deception and get clients the divorce settlement they deserve. To learn more about how we can help you, call our office at 630-584-5550 today and schedule a free, confidential consultation.

...

IL divorce lawyerOne of the biggest concerns people have when considering divorce is how the split might affect their finances. Not only will getting a divorce result in the loss of your spouse’s income and/or nonfinancial contributions to your household, you may also be expected to pay child support or spousal support. Illinois spousal support payments are calculated using a number of factors, but the obligor’s income is typically the most influential factor. Before support payments can be calculated, the obligor’s income must be defined.

Determining Illinois Spousal Support Payment Amounts

There are a few different ways that a divorcing spouse may be obligated to pay spousal maintenance. If the spouses had previously signed a valid prenuptial agreement that dictates a spouse’s maintenance obligations, the court will typically uphold the directions contained in the agreement. Spouses may also be required to pay spousal support if there is a large discrepancy in the spouses’ income and assets. The standard of living established during the marriage, each spouse’s health and age, any impairment to the recipient spouse’s future earning capacity, and several other factors are also assessed during spousal maintenance determinations.

According to Illinois statutory guidelines, spousal maintenance is calculated by subtracting 25 percent of the recipient’s net income from 33.3 percent of the obligor’s net income. However, spousal support payments cannot exceed 40 percent of the spouses’ combined net income. It should be noted that in some cases, the court will deviate from these statutory guidelines.

What Is Considered “Net Income?”

If your financial situation is not straightforward, you have multiple sources of income, own your own business, or have other special circumstances, you may wonder exactly how income will be calculated for spousal maintenance payments. The Income Withholding for Support Act and The Illinois Marriage and Dissolution of Marriage Act define income for the purpose of spousal support calculations. Typically, net income is calculated by taking gross income and subtracting:

  • Federal and state income tax
  • Self-employment tax
  • Social Security
  • Certain medical expenses
  • Retirement contributions required by law or as a requirement of employment‍
  • Costs associated with repayment of business debt
  • Child support payments from a previous relationship
  • Prior spousal support obligations

Other expenses may also be subtracted from gross income in order to determine net income depending on the circumstances.

...

Posted on in Divorce

IL divorce lawyerEnding a marriage is considered by many experts to be one of the most stressful experiences a person can have. Even if you were the spouse who suggested the split, the divorce process can be extremely emotionally burdensome. You may have worries about how divorce will affect your finances, your children, your career, and your lifestyle. Fortunately, there are a number of tips that mental health experts say can help you reduce the strain associated with formally ending your marriage.

Make Your Health a Priority

Many busy adults end up putting their own wellbeing quite low on their priority lists. Experts suggest that one of the best things you can do during divorce is to make a conscious effort to keep yourself healthy both mentally and physically. Exercise has shown to have remarkable benefits to both overall health as well as mood. Eating a balanced diet and avoiding the temptation to binge on junk food will also strengthen your body and help you get through this difficult time.

Do Not Fall into the Habit Of Using Drugs and Alcohol to Cope

The flood of emotions surrounding divorce can be hard for anyone to deal with. If you have decided to end your marriage, you may feel ashamed, angry, and heartbroken. Alcohol or drugs may offer a temporary, superficial numbing of these painful emotions, but the long-term effects of drug and alcohol abuse will only worsen divorce stress. Furthermore, drug and alcohol use can have a significant impact on your divorce settlement - especially child custody decisions.

Get Support From Family, Friends, and Professionals

Many people feel the need to turn inward and isolate during divorce. However, experts say that this is one of the worst things you can do for your mental health. Spending time with family and friends can help you get the support and distraction you need. Speaking with a counselor or therapist is also a great way to vent your divorce frustrations to a professional in the safety of a confidential setting. Divorce support groups also offer the opportunity to talk about divorce issues with people who are going through the same things you are.

Consider Mediation

If you and your spouse have disagreements about property division, parental responsibilities and parenting time, or spousal maintenance, you may want to consider family law mediation. During the mediation process, you and your spouse meet with a mediator who is specially trained to help you negotiate your divorce issues. Mediation is an informal, collaborative process that takes place outside of the courtroom. Not only is mediation much less expensive than litigation, it is also significantly less stressful and combative.

...

IL divorce lawyerTypically, the greater number of high-value and complex assets a married couple has, the more complicated property division is during divorce. Property division may be an especially difficult process if the spouses do not agree on how property should be divided or are not willing to be honest and forthcoming about property and debt. A spouse who is planning to divorce may attempt to conceal income or hide assets in order to prevent these assets from being factored into the divorce settlement. If you are considering divorce and you have reason to suspect that your spouse may be hiding assets or lying about finances, an experienced divorce attorney can help you uncover the truth so that you can obtain a fair divorce settlement.

One Spouse Handles The Majority of the Financial Transactions

In many marriages, one spouse handles the finances while the other spouse manages other responsibilities. Although this division of labor works well for many married couples, it can also leave one spouse completely out of the loop when it comes to money issues. If you have traditionally allowed your spouse to pay the bills, file tax returns, and make major financial decisions without your input, this can leave you at a major disadvantage during divorce. It may be a good idea to investigate financial documents like tax returns and look for clues that reveal potential financial deception. For example, you may find that your spouse owns property that you are not aware of through an itemized deduction involving property taxes.

Unusual Behavior and Other Red Flags

A spouse may lie about finances in order to gain an unfair property division arrangement or pay less than his or her fair share of child support or spousal maintenance. He or she may overstate debts and expenses, hide or undervalue property, and report lower than actual income. However, falsifying financial data during divorce can be hard to do without leaving at least some clues behind. Red flags that may hint at financial deception include:

  • Unusual bank activity such as frequent withdrawals or transfers
  • Missing account statements and other financial documents
  • Cash or property being gifted to friends and relatives
  • Defensive and secretive behavior regarding finances
  • Increased international travel
  • Changes to computer and smartphone passwords
  • Mail being rerouted to a different address

Contact a St. Charles Divorce Lawyer

Uncovering financial fraud during divorce can be especially difficult if a spouse has not been kept up-to-date about finances during the marriage or if a couple owns complex or high-value assets. If you have reason to believe that your spouse may attempt to gain an unfair advantage during divorce proceedings through financial deception, contact Shaw Family Law. Our knowledgeable Kane County divorce attorneys collaborate with experienced forensic accountants and other financial experts in order to help spouses obtain a divorce settlement that is based on the truth. Schedule a free, confidential consultation by calling us at 630-584-5550 today.

 

...

IL divorce lawyerDivorce settlements often contain orders regarding property division, debt payment, the allocation of parental responsibilities, parenting time, child support, spousal support, and other matters. One concern many people getting a divorce have is whether their soon-to-be ex-spouse will actually comply with the terms contained in the divorce settlement or judgment. It is important to remember that court orders are not optional. If an individual deliberately refuses to follow a court order, including orders related to divorce, he or she can be charged with contempt of court.

Contempt Charges for Failing to Comply with a Property Division Order

When you get divorced, you will be expected to fulfill the obligations specified in your property division order. For example, you may be required to make mortgage payments, pay off a shared credit card, or submit certain property to your former spouse. If you purposely do not follow the directions in your property division order, you may be held in contempt of court. The possible penalties for contempt of court include steep fines and even jail time.

Nonpayment of Spousal Support or Child Support

If a divorce settlement includes an order for spousal maintenance, also called spousal support or alimony, the paying party is expected to make these payments in full and on time. This same is true for child support payments. If a paying party intentionally fails to make these payments, he or she can potentially be charged with contempt of court. However, if the paying party cannot make these payments because of a major change in circumstances, such as a job loss, he or she will most likely not face contempt charges. If you are a parent who is struggling to make child support or spousal maintenance payments, never simply stop payments. You may be able to obtain a modified order if the circumstances warrant it. Furthermore, it is very important that you follow directions regarding parental responsibilities and parenting time contained in your parenting plan. Deliberate failure to do so can also result in contempt charges.

Contact a Kane County Post-Divorce Enforcement Lawyer

The directions contained in a court order are mandatory. Failure to comply with these directions can result in serious consequences. If your former spouse is refusing to follow the orders contained in your divorce settlement or you want to request a post-divorce modification, we can help. Contact Shaw Family Law, P.C. at 630-584-5550 today and schedule a free consultation with a knowledgeable St. Charles family law attorney.

Sources:

...

IL divorce lawyerGetting a divorce in any circumstance can be heartbreaking and overwhelming. However, getting divorced when you have children with your spouse can be especially challenging. Many parents worry that ending their marriage will be traumatic for their children. While breaking the news of divorce to children is never a pleasant conversation, there are certain steps parents can take that may minimize the trauma as much as possible.

Have a Family Meeting About the Impending Divorce

Child development experts and mental health professionals generally agree that it is best to break the news of divorce with both parents present. Use the word “we” when explaining the split to the children – even if the divorce was not a mutual decision. When only one parent tells the children about the divorce, it can make the children feel like they have to choose sides. While some families choose to tell the older siblings before the younger siblings, many mental health professionals suggest telling the children all together regardless of their ages. When some children know about the divorce before the others, it leaves them with the unfair burden of keeping a secret.

Plan What You Will Say in Advance

Just as you probably plan for important work meetings, you should plan how you will tell your children about your divorce. Think about the main messages you want your children to take away from the conversation. You may want to reassure your children that they will still be loved and cared for and that the divorce is not their fault. Remind them that even though you and your spouse are no longer going to be married, this does not change the fact that you are still their parents.

Accept Your Children’s Reactions

Children are all different and may have a variety of reactions to the news of divorce. Some children may throw a tantrum or become extremely angry. Others may cry and want to be held and comforted. Some children may initially act nonchalant or even have no noticeable response at all to the news. These are all normal reactions. Try to give your children space to work through their emotions and remind them that you are available to talk and answer questions whenever they feel ready.

Contact a Kane County Divorce Lawyer

At Shaw Family Law, P.C., we know the toll that divorce can take on a family. Our highly-skilled, compassionate St. Charles family law attorneys are fully prepared to help you with issues related to property division, child custody, child support, and more. Call our office at 630-584-5550 to schedule a free, confidential consultation with a member of our team today.

...

Posted on in Divorce

IL divorce lawyerMultiple studies show that disagreements about finances are the top predictor of divorce. Finding a way to manage money in a way that meets the needs of each spouse in a marriage can be extremely difficult. This is especially true if one spouse is more of a spendthrift and the other spouse considers saving money a greater priority. If you are getting a divorce, you may be concerned about how you and your spouse’s debts will be divided. The division of property and debt is often one of the most complicated and contentious aspects of a divorce. Finding a fair way to allocate property and debt often requires help from an experienced divorce lawyer.

Marital Debt Versus Nonmarital Debt

In Illinois, only the marital estate is divided during divorce. The marital estate includes all of the marital debt and property acquired during the course of the marriage. Property and debt which was acquired before the couple was married is typically not divided and is instead assigned to the original owner. If your spouse had incurred a great deal of credit card debt before you were married, you are not responsible for repaying the debt. However, if your spouse took out a car loan during the marriage, you may still be on the hook for this debt even if you did not drive the car. If you and your spouse had previously signed a valid prenuptial agreement that allocates debt and property in the event of divorce, the terms of this agreement are followed.

Student Loan Debt

Differentiating between marital and separate debt is not always straightforward. In the case of student loans, educational debt incurred before the marriage took place is typically considered nonmarital property. However, this is not always the case. Illinois courts consider several factors when determining whether or not educational debts are considered part of the marital estate. These factors include but are not limited to:

  • How the money was used
  • Who benefited from the money
  • At what point in the marriage the debt was acquired
  • Tax implications
  • Each spouse’s earning power

If the student loans are considered part of the marital estate, they are subject to division according to the rules of equitable distribution. This means that the debt is divided equitably, or fairly, based on each spouse’s income and assets, the duration of the marriage, each spouse’s earning capacity, and many other factors.

Contact a St. Charles Divorce Lawyer

Illinois courts use a property division method called equitable distribution to divide debt and property fairly. However, the courts have discretion to deviate from this method in certain circumstances. A Kane County divorce attorney from Shaw Family Law, P.C will protect your rights and advocate on your behalf during property and debt division. Call our office at 630-584-5550 for a free consultation to learn more about how we can help you achieve a fair divorce settlement.

...

Posted on in Divorce

IL divorce lawyerLegal separation is one way that a married couple can live apart, manage parenting issues, and isolate their finances from the other spouse without getting divorced. There are a great number of reasons that a couple may choose to get a legal separation. Separation offers many of the same benefits as divorce, but unlike divorce, separation is reversible. Only you can decide whether or not legal separation is right for you. If you do decide to separate, make sure to understand your rights and responsibilities regarding separation under Illinois law.

Why Do Married Couples Become Legally Separated?

In some cases, a couple knows that there are major problems in their marriage, so they separate for a period of time in order to work on these problems independently. Other times, a couple separates because they are not ready for the finality of divorce but they want to live apart and divide their parental responsibilities and finances until they decide if divorce is the next step. Some religions prohibit divorce, so members of those religions who do not want to live with their spouse get a separation in order to gain some of the benefits of divorce without actually ending the marriage. There also may be tax, social security, and health insurance-related advantages to remaining legally married. Legal separation can also be a great way to protect your finances from a spouse you are currently in the process of divorcing.

Requirements for Legal Separation in Illinois

If you want to file for a legal separation in Illinois, there are a few prerequisites you should be aware of. In order to qualify for separation, either you or your spouse must have lived in the state of Illinois for at least 90 days. For the court to determine the allocation of parental responsibilities and parenting time, your children must have lived in Illinois for at least six months. You must also be living physically apart from your spouse in order to qualify for legal separation. It is very important to note that physical separation is different from legal separation. You may be living apart from your spouse, but you are only legally separated if you request a petition for legal separation and are granted a separation through the court. If you later decide that you want to get divorced, you can file a request with the court to convert your separation into a divorce.

Contact a St. Charles Family Law Attorney

Legal separation offers many of the same advantages as divorce. Legal separation allows you to divide your finances, parental responsibilities, and manage spousal maintenance issues. However, separation does not formally end a marriage the way divorce does. If you have further questions about separation or divorce, want to formulate a legal separation agreement, or have other family law needs, contact Shaw Family Law, P.C. Schedule a consultation with an experienced Kane County legal separation lawyer by calling us at 630-584-5550.

 

...

IL family lawyerSpousal maintenance, also referred to as spousal support or alimony, can help a lesser-earning spouse avoid being at a serious financial disadvantage after getting divorced. When a married couple divorces in Illinois, it is not guaranteed that a spouse will be required to pay spousal maintenance to the other. Whether or not a spouse receives spousal support and the amount and duration of payments are based on a variety of circumstances.

Spouses Can Decide on Alimony Arrangements in a Prenuptial or Postnuptial Agreement

One way that a spouse can receive spousal maintenance is if the spouses have previously signed a prenuptial agreement or postnuptial agreement that dictates what spousal maintenance arrangements will be if the couple divorces. For example, if a spouse plans to sacrifice educational and career opportunities to be a homemaker or stay-at-home-parent, the spouse may want to ensure his or her right to adequate spousal maintenance if the marriage ends. A prenuptial agreement, or “prenup,” allows spouses to make decisions about the amount and duration of maintenance payments in advance. However, it is essential that prenuptial agreements meet the criteria required by Illinois law. If a prenup is signed under duress, contains extremely unfair provisions, or otherwise does not meet the guidelines set forth in the Uniform Premarital Agreement Act (UPAA), it may not be legally enforceable. It is always a good idea to have an experienced family law attorney review any marital agreements to ensure that they are valid.

Spousal Maintenance May be Ordered by the Court

If a spouse requests spousal maintenance during divorce proceedings, the court will consider a wide range of factors to make spousal maintenance determinations. These factors include but are not limited to:

  • How long the marriage lasted and the standard of living established in the marriage
  • The spouses’ age and health
  • The spouses’ property, income, and employability
  • Any impairment to the present or future earning capacity of the spouse pursuing maintenance caused by time spent as a homemaker or parent
  • The amount of time needed for the spouse seeking maintenance to acquire the training, education, and employment to become self-supporting

Spousal maintenance is most often temporary and designed to give a spouse time to become financially independent. However, in some situations, such as when a marriage lasted twenty years or more, maintenance payments may be permanent. Maintenance payments terminate when the recipient spouse remarries.

Contact a Kane County Divorce Lawyer

There are many factors that influence whether or not a spouse will receive alimony. If you are planning to end your marriage and have spousal maintenance-related concerns, a qualified St. Charles family law attorney can help you understand your legal options. Call Shaw Family Law, P.C. today at 630-584-5550 to schedule a free consultation.

...

IL divorce lawyerWhen two people marry, many of their possessions change from “yours” and “mine” into “ours.” Couples may share a home, vehicles, property, bank accounts, and more. When a married couple gets divorced, deciding which spouse should retain which assets can be quite difficult. There are many factors that can complicate the already complex process of property division. If you are planning to divorce and need help with asset division, contact an experienced family law attorney.

Complex Assets

Illinois couples have the option to make their own decisions regarding the division of the marital estate. However, couples who disagree about asset division may require court intervention. If a couple owns complex or high-value assets, it is likely that the process of property division will be much more involved. Assets which can complicate the property division process include but are not limited to:

  • Family businesses
  • Trusts
  • Stocks, bonds, and other investments
  • inheritances or gifts
  • Real estate
  • Pensions and 401ks
  • Deferred compensation
  • Royalties
  • Executive bonuses
  • Offshore accounts

Duration of Marriage and Age of Spouses

You may be surprised to learn that the divorce rate for people over 50 years of age has doubled since 1990. More and more older Americans are getting divorced. Many individuals over the age of 50 have accumulated a significant amount of money in a term life insurance, 401k plan, or retirement account. They may also be receiving Social Security benefits. The duration of a marriage can influence several aspects of divorce as well including asset division, child custody, child support, spousal maintenance, and more. When a marriage of 20 years or more ends, the process of untangling the spouses’ intertwined financial lives can be especially difficult.

Dissipated Assets

Property or funds which are wasted near the end of a marriage are referred to as “dissipated assets.” Examples of dissipated assets can include funds lost to gambling or drug addiction, money spent on a secret affair, and property which was destroyed by another spouse in an act of retaliation. In order to be considered dissipation, the frivolous spending must be “for the sole benefit of one spouse and for a purpose unrelated to the marriage.” Furthermore, the spending must take place “when the marriage is undergoing an irreconcilable breakdown.” Generally, an “irreconcilable breakdown” refers to the time when a couple stops making attempts at reconciliation. If you and your legal team can prove that your spouse dissipated significant assets, you may be given a larger share of the marital estate to compensate for the lost property or funds.

Contact a St. Charles Property Division Lawyer

If you are getting divorced and have questions about property division, contact Shaw Family Law, P.C. to get the answers you need. Schedule a free, confidential consultation with a knowledgeable Kane County divorce attorney by calling us at 630-584-5550 today.

...

IL divorce lawyerUnderstandably, divorce can be a very emotional process. Many people getting divorced struggle to make good financial decisions and not let their emotions dictate their behavior. Some of the most common divorce mistakes stem from short-sightedness and haste regarding finances. Fortunately, there are steps you can take to avoid adding superfluous expense to your divorce. Read on to learn about some of the ways that divorcing individuals inadvertently increase the cost of their divorce and how you can avoid these financial pitfalls.

Mediation is an Affordable Alternative to Court Intervention

Cooperating and negotiating with a soon-to-be-ex-spouse can be one of the hardest parts of the divorce process. However, working with your spouse to come to an agreement on divorce issues is much less expensive than courtroom litigation. If you find it difficult to talk to your spouse about property and debt division, child custody, spousal support, or other divorce-related concerns, mediation may be a useful option. During mediation, a specially-qualified mediator acts as a neutral third-party during negotiations. The mediator helps the divorcing couple reach agreements about divorce issues so that the couple does not need to take the matters to court.

Unhealthy and Expensive Coping Mechanisms Can Cost

Ending a marriage can be an incredibly stressful undertaking. Because of this, many people getting divorced find themselves indulging in comforts like food, alcohol, or fun activities. Experts say that some self-pampering can be beneficial during divorce but overindulging can create serious problems. One recent study found that the risk of developing alcoholism increased for both men and women following a divorce. Using drugs, alcohol, gambling, or excessive retail therapy to avoid negative emotions during divorce can quickly escalate and lead to financial disaster in the future.

Carefully Consider What to Do with Your House

If you are like most people, you have a sentimental attachment to the place you call home. During divorce, the last thing you may want is to be uprooted and forced to move into a new house or apartment. However, it is not always in your best interest to keep the house when you get divorced. Making a monthly mortgage payment and maintaining a home alone is usually much harder than it is with a spouse. For other divorcing spouses, it makes more financial sense for them to keep the home than to sell it. Make sure to consider all of the possible options when it comes to the marital home and consider the long-term consequences of selling or keeping the house.

Contact a Kane County Divorce Lawyer

If you are getting divorced, contact a St. Charles divorce attorney from Shaw Family Law, P.C. to get the help you need. Schedule a free, confidential consultation by calling our office today at 630-584-5550.

...

IL custody lawyerWhen the process of a divorce is civil, there is no need for the court to order a partner or parent to stay away from the household. However, when there is domestic violence present in the relationship(s), the victim and/or parent of the victim can petition family court for an order of protection until the divorce process is concluded - or sometimes even further.

Understanding Orders of Protection

Domestic violence is a serious reason why some partners choose to split. However, if the abuser is unhappy about their partner choosing to leave, the abuse can sometimes escalate. If this happens, the victim is encouraged to file for an order of protection which will eliminate contact between victim and abuser during their divorce. This includes:

  • Phone calls
  • Emails
  • Text messages
  • Physical proximity to each other
  • Physical proximity to the victim’s residence
  • Physical proximity to the minor victim’s school or daycare

When there are children involved, the parent may file for an order of protection that includes them so that the abuser does not have contact with the minors during the process if it is believed the children may also be at risk. In Illinois, there are three types of orders which range in duration of non-contact:

  • Emergency orders, which cover a duration of 14 to 21 days.
  • Interim orders, which cover a duration of 30 days.
  • Plenary orders, which cover a maximum of two years.

All orders are able to be extended when the coverage time comes to conclusion. This must be done through the court as well.

Penalties for Violating an Order of Protection

An abuser needs to be knowingly violating the order of protection for a punishment to be given. In this case, the offender will be charged with a Class A misdemeanor. If there are children involved during the violation, the charges are elevated to a Class 4 felony.

...

IL divorce lawyerThe two areas that cause the most deliberation in divorce cases is child custody arrangements and the division of assets. Going through your finances and properties can cause ugly sides to come out of divorcing couples. Some will claim that certain assets are theirs alone while others will complain that they are not receiving enough in the division process. In Illinois, all marital assets are eligible for equal distribution between both spouses. This can seem unfair to the spouse that is the primary breadwinner of the house or can cause panic for the spouse that relies on these assets to get by after the divorce. These mix of emotions can cause spouses to make illegal attempts to conceal assets.

Common Hiding Places

Hiding assets is not typically done by putting wads of cash in the cookie jar. There are various common tactics used that can attempt to avoid a paper trail of evidence:

  • Watch Your Bank Accounts: The first place to start your search is your personal and shared bank accounts. Monitoring purchases and monetary movement may give initial proof to your suspicion.
  • Unreported Income: If your former spouse is involved in any form of cash enterprise, they may be pocketing funds without notifying the government for tax purposes. While this can be difficult to prove without professional help, comparing your spending habits to your spouse’s and looking back on your financial situation throughout your marriage can be a start.
  • Debt Payments: Some people will spontaneously owe their friends “debts” then have the friend return the money after the divorce is finalized. This will allow them to set money aside and avoid dividing it with you.
  • Shady Business: If your spouse has their own business, they could be using this to their advantage. Sometimes they will wait to charge clients for services until after the divorce. In other cases, they will pay an “employee” who does not actually exist and file the money into an account that they can access after the divorce.

Seek Professional Help in St. Charles, IL

Locating hidden assets can be extremely difficult for someone who does not have experience doing so. While these may be common places to hide money, there are many others that should be looked at to ensure that you receive your equal share of finances. At Shaw Family Law, we work with an experienced forensic accountant and other financial experts to analyze all possible areas of hidden assets. If you suspect that your spouse could be hiding assets from you, contact our Kane County divorce attorneys at 630-584-5550 for a free consultation.

 

Sources:

...

IL divorce lawyerGetting divorced is stressful on many levels. It is emotional and can be financially burdensome at the time of the divorce and in the future. Young couples filing for divorce are not often thinking about retirement; however, properly preparing for the future should be on the mind of divorcees throughout the proceedings. One of the best ways to secure your future financially is to obtain a qualified domestic relations order (QDRO). This is an order that ensures the recognition of a second party in receiving a portion of the retirement benefits from their former spouse’s plan. While you may believe that you are entitled to your ex’s retirement benefits, the only legal way to secure this money is through a QDRO.

Who can receive money through a QDRO?

This legal document has limitations regarding who is considered eligible to receive financial assistance. The recipient is known as the “alternate payee” while the plan holder is known as the “participant”. Alternate payees can include spouses, former spouses, children, or other dependents of the participant.

What should be included in a QDRO?

Each retirement plan has individual requirements; however, there is certain information that must be included on every QDRO request. These include:

  1. The name and address of the participant and alternate payee
  2. The name of each plan to which the order applies
  3. The dollar amount or percentage of the benefit to be given to the alternate payee
  4. The number of payments or time period of the order

Can I get a QDRO after my divorce?

QDROs can be filed at any time. Whether you are in the middle of the divorce process or have been divorced for a decade, QDROs do not have a time limit. This is done in part because financial situations can change over time. While some may have a retirement plan with their job at the time of their divorce, they may change jobs later on and find themselves in need of financial support. QDROs can also be filed for after the former spouse’s death; however, it must be consistent with the terms of the retirement plan. QDROs can be filed for long after the divorce is finalized but it is best to obtain one and file the QDRO with the retirement plan as quickly as possible.

Obtaining a QDRO with the Help of a Kane County Attorney

All legal processes go much smoother with an experienced attorney by your side. If you are in the middle of your divorce, you should notify your attorney that you may need the financial assistance later in life. You may also need to contact the plan for information about your spouse’s plan if your spouse is not willing to provide you with that information. At Shaw Family Law, we draft QDROs during or after divorce to ensure that you receive the proper allotment of finances later in life. If you are considering divorce or need assistance drafting a QDRO from a divorce that happened years ago, contact our experienced St. Charles, IL divorce attorneys at 630-584-5550 for a free consultation.

...

IL divorce lawyerSeparation is typically seen as the step taken before divorce; however, this is not always the case. Some use separation as a trial period to see a life without their spouse in it while others see separation as a substitute for divorce. Many that are considering separation have already experienced a mental or emotional gap without physical distance coming between them and their spouse. There are three types of separation, each of which gets progressively more serious.

Types of Separation

The following are the three types of separation available to married couples:

  1. Trial Separation: A trial separation can be the “trial period” that couples are looking for when they are having difficulties in their marriage. This form of separation does not require any legal paperwork and is not considered a legal process. Trial separation has the two spouses living apart with the potential to get back together. This form of separation often helps couples decide if their marriage is still meant to be or if divorce is on the horizon.

  2. Permanent Separation: This type of separation occurs when couples decide that they no longer want to be together but do not wish to have legal processes involved. Some choose permanent separation to continue to have financial benefits of a legal marriage. The division of property can become difficult in this form of separation without third-party assistance. Property purchased or debts incurred after the separation but without a divorce present is typically considered separate unless the debts are formed to care for children or the marital home.

  3. Legal Separation: This form is closest to a divorce. Legal processes are involved to officially divide assets, make child custody decisions, and to request financial support. Much like permanent separation, legal separation can be an alternative to divorce; however, legal separation is often the first step towards divorce for unhappy couples. Without a legal divorce, it is impossible to remarry since you legally never ended things.

    ...

Selecting your legal team for your divorce is one of the most important steps that you can take. Without adequate legal assistance, you may not receive proper alimony, child support, or custody when you and your former spouse’s belongings get divvied up. Most couples getting divorced will each select their own attorney who will then work solely in the best interests of the spouse that hired them. Because this is a common choice for many divorces, some couples do not realize that alternative options exist. Divorce mediation has become increasingly popular as modern times have removed the age-old negative stigma that used to surround the idea of divorce.

What Is Divorce Mediation?

Divorce mediation is an alternative to divorce litigation. Divorce mediators are typically a branch of attorneys at a law firm that specializes in both litigation and mediation. A mediator is a neutral third-party that meets with both spouses to make divorce arrangements. Unlike common divorce proceedings, the goal of mediation is to come to an agreement together rather than having two opposing sides pitted against each other.

This divorce process is commonly chosen by couples that are having an amicable divorce. In other words, divorce mediation only works for couples that can do not have grievances against each other and have come to the mutual decision that divorce would be best for them both. This is not always possible which is why mediation only works for some couples. The purpose of the third-party is not to take one side over the other or add their input. They act as a middle ground with legal knowledge and experience in order to conduct the legal process when the agreements have been finalized by both parties.

Why Would I Choose Mediation Over Litigation?

As previously noted, mediation can be a lower conflict way to finalize your divorce; however, this is only the case with some parties. Divorce mediation can be cheaper for each spouse since a single legal team is involved rather than two opposing attorneys. The process can also be quicker depending on the length of time it takes for both spouses to come to an agreement. Divorce mediation often takes an average of 3 to 5 months to complete whereas divorce litigation can take over a year to complete. Those who decide that divorce mediation is best will also reduce the number of court filings required for their divorce to be finalized. Divorce mediation is a good alternative to litigation as it can foster a good co-parenting relationship in the future or a positive parting with an amicable sense of closure.

Contact a Kane County Divorce Mediation Attorney for Help

Divorce mediation is a good alternative that is often overlooked or unknown by couples seeking divorce. At Shaw Family Law, P.C., we offer both divorce litigation and mediation in order to serve and accommodate couples with all different types of relationships. If you are looking for alternative options for your divorce, contact St. Charles, IL divorce mediation attorneys at 630-584-5550 for a free consultation.

...

IL divorce lawyerThe way one looks and acts is crucial throughout the entire divorce process. Not all divorces go so far as a court appearance. Amicable divorces are typically done behind closed doors, with the assistance of attorneys. This is common for those who mutually decide that divorce is right for them and are able to settle the different facets of divorce without a judge’s third-party assistance. Conduct is especially important in cases involving children. If a judge notices that one parent is acting in a way that is unfit for a parent, custody decisions will be affected. Whether or not you are in front of a court or in a private space, your conduct is crucial for getting a “fair trial”.

How Should I Behave During the Divorce Process?

  1. Timeliness is everything: Arriving on time to every legal appointment is key. This is the only concrete evidence that a judge can see that shows reliability and responsibility. This also tells the court that you see this as a priority. Each spouse is compared throughout the legal process so it is important to be on time.

  2. Dress professionally: Spouses should dress in business attire. Not only will you be at the same dress level as your legal team, but this also shows your professional side. It does not matter whether or not you work in a “business attire” setting, but showing that you can dress up when necessary is a clear sign of recognizing priorities.

  3. Keep your emotions in check: Getting divorced is emotionally taxing on both spouses as well as their family and friends. Often times those emotions can come flooding out in the courtroom as your relationship is opened up for others to see. That being said, keeping your emotions under control is very important. Some people will display anger or sadness in the midst of an ending relationship, but both can come off as unprofessional and hysterical, especially in the court.

  4. Be organized and prepared: Legal assistance is necessary for every divorce regardless of the level of friendliness that exists between you both. Sometimes the amiability that exists can be a tactic used to catch your spouse unprepared thus keeping them from receiving proper amounts of alimony or child support. Having a lawyer who is experienced in divorce cases is the best way to protect you from receiving less than you should.

    ...

Recent Blog Posts

Categories

Archives

Contact Us

How Can We Help?

NOTE: Fields with a * indicate a required field.
*
*
*
AVVO LL BV