Posted on May 28,2021 in Divorce

When a couple cannot come to an agreement on the terms of their divorce, the first step is to attend mediation services. If they are also unable to come to an agreement through mediation or if mediation did not make sense for the situation, then the case is usually sent to be heard before a judge who will make the final decisions. One of the first pieces of information that the judge will require from both spouses is a financial affidavit. These documents will enable the judge to have a better understanding of the couple’s financial situation before he or she makes any decisions about property division, spousal support, or even child support.

What Information is in a Financial Affidavit?

A financial affidavit is a document that details nearly every aspect of a person’s finances. The affidavit will contain information such as how much each spouse makes, how much they spend each month, what assets they own, and what debts they have. In the state of Illinois, information included in the affidavit includes:

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 Posted on May 24,2021 in Collaborative Law

Many people who go into a divorce do so thinking that it will be a difficult and stressful process. While it is true that divorce has the potential for stress, it does not have to be as troublesome as people are led to believe. In Illinois, any couple has the option to choose what type of process they use to end their marriage. In recent years, collaborative divorce has risen in popularity. As the name suggests, a collaborative divorce is one in which both spouses work together to achieve the type of divorce resolution that they want. Instead of having a “me versus them” type of attitude, a collaborative divorce encourages spouses to be cooperative so they can both be content with the outcome.

Common Professionals in Collaborative Divorce

One of the ways in which a collaborative divorce is unique is the presence of more than just your attorneys. A collaborative divorce utilizes various professionals from an array of fields to provide advice and guidance on certain issues. Some of the most common specialists that couples hire are:

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 Posted on May 17,2021 in DuPage County divorce lawyer

No two divorces are alike. Each family has their own unique situation that may come with unique challenges. However, couples who have a high net worth may face more challenges than the average divorcing couple. High net worth divorces have a higher tendency to involve some sort of disagreement between the spouses, especially when it comes to the couple’s finances. In some cases, one spouse may not even know much about the family’s finances, making the situation even more daunting. High net worth divorces involving children can also be highly contested, which is why retaining an attorney who has experience with high-value assets and couples with high net worth is essential to a successful divorce.

Avoid These Things During Divorce

Divorce can be confusing and nerve-wracking for anyone, but things can be especially difficult with a high net worth divorce. To avoid the stress and confusion that can often come along with divorce, here are a few things to avoid when going through your high net worth divorce:

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 Posted on May 13,2021 in Parental Rights

When a child is born to parents in Illinois, the mother automatically receives her parental rights. The father, however, is a different story if the parents were not married when the child was born. Paternity must be established for a child if the father wants parental rights. This can be done in a variety of ways, though the most common way is for a couple to fill out a voluntary acknowledgment of paternity (VAP) form in the hospital. In some cases, however, a parent may wish to relinquish their parental rights to a child. In other cases, a parent may wish to terminate the other parent’s parental rights. Either way, this can be done under certain circumstances in Illinois.

Proving the Parent to Be Unfit

In order to proceed with petitioning the court to terminate a parent’s parental rights, you must first have proof that the parent is indeed unfit. During the hearing, which is bound to happen, the judge will determine whether or not there is enough evidence pointing toward the parent that would declare him unfit. According to Illinois law, a parent can be considered unfit if:

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 Posted on May 10,2021 in Divorce Finances

Financial planning is always a smart decision, but during a divorce, financial planning can become critical. Developing a financial plan can become an extremely important piece of ensuring your financial health after the divorce. You have likely heard of the old adage that “knowledge is power,” but that is especially true when it comes to a divorce.

Understanding the “In Spouse” and “Out Spouse”

In many cohabiting couples, there is usually a spouse who is more financially savvy and knowledgeable about the household’s finances than the other. This spouse is typically referred to as the “in spouse” because they are the ones who are in the financial loop. The other spouse, referred to as the “out spouse,” usually has little to no knowledge of how the household’s finances are handled. The “in spouse” may handle every aspect of the finances, such as paying the bills every month, keeping track of bank accounts, making investments, and creating and maintaining a budget. Naturally, the “in spouse” would have a bit of an advantage over the “out spouse,” who has not really been involved in the monetary aspect of the divorce. In some cases, the “in spouse” may be controlling or secretive about the family’s finances, making it difficult for the “out spouse” to get an accurate understanding of what they are working with.

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 Posted on May 05,2021 in Paternity

When a child is born to parents who are unmarried, the father does not yet have any legal rights to the child, unlike the mother. Many parents, especially fathers, do not realize that there are certain steps that they must take to gain their legal parental rights and to ensure the paternity of their child is established. Until the paternity of a child is established, no orders pertaining to parenting time, decision-making responsibilities, or child support will be entered. Paternity can be established in a variety of ways, but the situation is not always as easy as just completing paperwork. A knowledgeable paternity lawyer will be able to help make the process a little easier.

Uncontested Declaration of Paternity

Before a father can establish his legal rights, he must first ensure that his paternity is established over his child. This can be accomplished in a variety of ways, but the easiest way to establish paternity is by using a Voluntary Acknowledgment of Paternity (VAP) form. This form can be filled out right in the hospital after the child is born and only requires both the mother's and the father’s signatures to be valid. Once you sign the VAP, you are able to have the father’s name put on the child’s birth certificate.

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 Posted on April 30,2021 in Divorce

When you and your spouse begin to divide your assets during your divorce, issues can often arise over who gets to keep what. During the excitement of determining what happens to your assets, many couples forget the other part of the division process -- figuring out what happens to your debts. Any debt that you or your spouse took on while you were married is considered marital debt, meaning both you and your spouse are responsible for repaying it, even after a divorce. While the idea of figuring out which debts you will be responsible for may seem unappealing, it is a crucial and required step in the property division process.

Marital Assets and Debts Are Divided Equitably

In the state of Illinois, any asset that is declared to be marital property is divided in an “equitable” manner, rather than simply just splitting it in half. The same idea is applied to marital debts; any debt that you and your spouse may have incurred during the marriage will be subject to equitable division. Some of the most common debts that married couples have include things such as mortgages, home equity lines of credit, auto loans, student loans, and credit card debt. To ensure assets and debts are actually distributed in an equitable manner, there are a variety of factors that a judge looks at prior to making the determination, which can include a spouse’s current income and earning capacity, and whether one spouse sacrificed being in the workforce to stay home to run the household and take care of the children.

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 Posted on April 27,2021 in Divorce

Going through any type of divorce can be exhausting, both emotionally and financially. When a divorce is contested, meaning you and your spouse do not agree on the issues pertaining to your divorce, it can greatly add to the stress of the divorce. Even though it is important for anyone going through a divorce to practice self-care, it is especially important for those going through a contentious divorce to take time to manage their stress so it does not take a toll on their health. If you are going through a contentious divorce, there are certain things you can do to prepare yourself and help make the divorce process go smoother. Here are a few tips to help you cope with the stress of a contentious divorce:

• Try to find common ground. Your divorce process will be much easier if you and your spouse can find at least one goal in common. Finding a common goal can help you and your spouse stay on track when negotiating and working together to find solutions to your issues.

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 Posted on April 23,2021 in Child Support

When you are subject to an order from the court, you are legally required to abide by the rules of that order. If you do not abide by those rules, you could be considered to be in contempt of court. According to Illinois law, contempt of court comes in two forms -- civil contempt and criminal contempt. Both are very similar and could arise from a divorce or child support case in some situations. Both child support and spousal maintenance exist for a reason -- to help pay for each one’s living expenses. It can be frustrating when a spouse does not pay their court-ordered support, especially when you depend on that income to live. If your ex-spouse does not pay their court-ordered child or spousal support, they could be held in criminal contempt and subject to various penalties, the most common of which is wage garnishment.

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 Posted on April 21,2021 in Divorce

One of the most valuable assets in many divorces is retirement accounts. In many cases, these accounts can be worth tens of thousands, if not hundreds of thousands of dollars, making them a point of contention for some spouses, especially those who are close to retirement. The process of going through a divorce can be difficult emotionally, but it can also be hard on the wallet, too. For couples who are over the age of 50 or who are nearing divorce, your retirement plans can be of particular importance when it comes to how your divorce will affect your finances. In most cases, there are things that you can do to protect your retirement plans from being compromised.

Protecting Your Retirement Plans During Divorce

There are many decisions that you must make during your divorce. Many of these decisions have the capacity to alter your plans that you may already have in place for your retirement, which is why it is extremely important to give all of your decisions careful consideration during your divorce. Here are a few things you can do to protect your retirement plans:

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