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Recent Blog Posts
Is a Prenuptial Agreement a Good Idea?
The future is unpredictable, therefore, prenuptial and postnuptial agreements empower couples to plan for various scenarios. Ultimately, whether a prenup is a good idea depends on the specific needs and priorities of the individuals involved. It is a personal decision that should be made with careful consideration and, ideally, with open and honest communication between partners. You should consult with an Illinois family law attorney who can provide valuable insights into the legal implications of a prenup and help ensure that the agreement is fair and enforceable.
How Do Prenuptial and Postnuptial Agreements Differ?
Marital agreements help provide clarity and set terms for financial matters in the event of a divorce, but the timing and circumstances surrounding their creation vary in the following ways:
What Can I Do If My Ex Refuses to Pay College Expenses?
College expenses keep climbing in Illinois every year. If your ex is not exactly on board with chipping in for those hefty tuition bills, the court can step in and decide on payments. If you are a divorced parent or about to be one, it is crucial to know what Illinois law says about kicking in for your child’s college. You need help with child support. At Shaw Sanders, P.C., a St. Charles, Illinois family attorney can help you navigate this legal journey.
How Can The Law Help Me and My Child?
If your ex is giving you the runaround, it is time to take action. The Illinois Marriage and Dissolution of Marriage Act is your ally. Under Illinois law, unmarried or divorced parents are required to contribute to college tuition, housing, and other costs. You or your legal guardian can file a petition with the court and make your ex cough up their share of the college fund. The court has some serious tools in its arsenal. They can slap your ex with fines, hold them in contempt, or even order their wages to be garnished.
How Can I Protect My Business in a Divorce?
Getting a divorce is tough. When it comes to your business, it is not just about the emotional rollercoaster but the legal puzzle. If you are worried you will lose your business in the divorce, it is a good idea to have a business valuation performed. You need an experienced divorce attorney skilled in business valuation on your side. If you and your spouse can maintain a civil relationship, you may negotiate a settlement without heading to court. However, if you anticipate a contentious divorce, it is best to let your Illinois attorney handle the negotiations on your behalf.
What is the Value of Your Business?
In Illinois, businesses are considered property, just like your home. So, if you are going through a divorce, it is essential to figure out how your business fits into the picture and what it is worth. Your first move should be to get a precise and thorough appraisal of your company's value. Whether it is a small home-based business or a larger corporation, an accurate valuation is crucial to determine its worth during the divorce process. Working with a professional business appraiser is key to creating a comprehensive report that covers your business's assets, debts, and current value.
What Are the Advantages of Mediation if You Have Kids?
The news of a divorce can be distressing for your child, but engaging in arguments and conflicts with your spouse can be more unsettling for them. If you use mediation instead of confrontations in the long run, it is better for your child's well-being. Research indicates that children who do better after a divorce have parents who communicate and compromise without getting into fights. If you believe you and your spouse can have a civil discussion, a skilled Illinois mediation attorney can try to help.
How Can Mediation Reduce Turmoil?
Mediation involves using a neutral third party to assist parents in resolving custody-related issues. A mediator, often an attorney, looks at all the pieces involving the divorce. Engaging in a bitter custody battle can be emotionally traumatizing for a child, but when children witness their parents communicating and finding common ground, it can mitigate the emotional turmoil they experience. So, even if you and your soon-to-be-ex-spouse do not see eye to eye, an experienced mediator can guide you back on track and ensure that discussions are less stressful.
How Can an Illinois Divorce Affect My Taxes?
Divorce is a life-altering decision, and in Illinois, it is a process with substantial financial consequences. However, an aspect that often gets overlooked amidst the emotional turmoil is the significant tax implications that accompany the dissolution of a marriage. Do not wait until tax season to discover that you are facing unexpected tax bills or missed opportunities for savings. You need an Illinois tax implications divorce attorney to help you minimize your tax liability and maximize your tax advantages.
What Tax Factors Should I Consider During a Divorce?
You may think that once the divorce papers are signed, the ordeal is finally over. However, taxes are looming, and your emotional state is often not considered when it comes to paying the IRS. Under Illinois law, when assets are divided, decisions about spousal maintenance, child support, and property settlements can have a massive impact on your tax liability. Ignoring these factors during your divorce could lead to unpleasant surprises when you file your next tax return.
Could I Lose My Retirement Savings in a Divorce?
Divorce rates among individuals over 50 are on the rise, with those aged 65 and older seeing a threefold increase in divorce since 1990. Amidst the emotional strain of any divorce, financial uncertainties loom large in what is recently being called a gray divorce. These couples often have substantial retirement assets and what you once considered exclusively yours may need to be reevaluated. After a divorce, the last thing you want is to discover that you did not receive the complete retirement benefits you were entitled to. You need an Illinois retirement assets divorce attorney to assist you with the legal aspects.
Will I Be Penalized for Early Withdrawals During a Divorce?
Under Illinois law, in a marriage, retirement savings are considered marital assets, regardless of the account holder's name. Whether you have a pension, 401(k), IRA, or any other retirement plan, it could be divided during a divorce if it is considered a marital asset.
Is Calling it Quits More Complicated for LGBT+ Couples?
Same-sex marriages are allowed in Illinois, but there are still many couples who opt for civil unions. In Illinois, civil unions provide couples with the same legal rights and responsibilities as marriage. When it comes to a civil union dissolution, the same issues need to be addressed as in a divorce. If you have been cohabitating and are planning to call it quits, it is best to work with an experienced Illinois civil union dissolution attorney to protect your rights.
How is Property Divided if We Were Just Living Together?
Same-sex marriages have been legal since 2015 in the United States. But the reality is that many same-sex couples were already living together in Illinois. A civil union dissolution can complicate how their property is divided if the couple is considering parting ways. Illinois law states that assets acquired during the marriage are considered marital property, while assets acquired before the marriage are non-marital property, with some exceptions. If a couple lived together but did not marry, the money and possessions they obtained during that time may be seen as non-marital property.
What Can I Do If My Ex Thinks Spousal Support is Revenge?
It is a myth that spousal support is a form of revenge. It is not about one spouse penalizing the other for past mistakes such as infidelity. Instead, it is determined by a couple's financial situation and needs. This holds significant weight, especially for women facing a midlife divorce. Research reveals that women are more likely to live below the federal poverty line compared to men. The harsh reality is that women still often earn less than men, and this earnings gap often widens as they age. You need a skilled Illinois divorce attorney to advocate for your long-term needs and ensure that spousal support is handled fairly in your divorce.
What Should Be Considered When Asking for Spousal Support?
Recent trends reveal a rising number of men and women in long-term marriages choosing to call it quits. Unfortunately, the financial repercussions tend to hit women the hardest, often resulting in a 45 percent decrease in their standard of living.
How Can I Request a Child Support Increase?
Rising costs in Illinois after COVID-19 have strained many people, making it tough to manage finances. Amid labor shortages, some employers boosted pay to keep employees. If you suspect your ex received a substantial raise, you can petition the court to reassess child support payments. If you have custody of your children and need increased child support to cover added expenses, consult an Illinois attorney for guidance on modifying your support order.
What Is the Process to Change a Child Support Order?
Child support is typically paid to the parent who is awarded the most parenting time and with whom the child lives. The non-residential parent is the one who pays child support. Under Illinois law, if you want to change the amount of money you pay or receive for child support, there is a legal process you must follow. You need to prove to the court that there has been a significant change in your circumstances that justifies adjusting the child support payments. This legal adjustment is often called a modification.
Are Divorces Easier with a History of Domestic Violence?
You may believe that getting a divorce should be straightforward if you are in an abusive relationship and want to break free. In Illinois, one out of every three women is in an abusive relationship, including physical harm to emotional abuse. Unfortunately, getting a divorce in Illinois is not necessarily easier if there is a history of domestic violence. However, the presence of domestic abuse can significantly influence other aspects of the divorce process, especially child custody. Only an experienced Illinois attorney can help you understand the process.
What is a No-Fault Divorce?
Illinois follows a no-fault divorce system, which means neither spouse can blame the other for calling it quits. Factors like physical or mental cruelty, adultery, or even issues like alcohol abuse can no longer be used as reasons to seek a divorce. In order to file for a no-fault divorce in Illinois, you will need to demonstrate these three key elements:
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