Posted on December 00,0000 in Divorce Finances

Most people have a long list of questions when they make the decision to get a divorce. By far, one of the most common questions people have before they begin the divorce process is, “How much will my divorce cost?” The answer to that question is not a simple one -- there are so many factors that can affect the price tag on your divorce. Some sources report that the cost of divorce can be as low as a couple of hundred dollars, while other sources state a divorce will cost more along the lines of tens of thousands of dollars. Here are a couple of different factors that can affect the cost of your divorce: The Type of Divorce You Choose Not surprisingly, the type of divorce you choose can determine how much you ultimately end up paying for your divorce. A do-it-yourself divorce can range from $600 to $1,800, depending on the type of service you use and where you live. Typically, the only costs associated with a DIY divorce are those that come from the service you use and the filing fees. A litigated divorce can range in cost from $15,000 for a straightforward divorce to $200,000 for a divorce that ends up going to trial. Your Divorce Attorney’s Hourly Rate and Retainer Fee If you choose to have an attorney help you with your divorce, costs between lawyers may differ. The average attorney’s fees can range from $200 to $500 per hour and most attorneys also require you to pay for a retainer before you begin. The average retainer fee ranges from $3,500 to $10,000, depending on the complexity of your case. Court Costs and Filing Fees For the most part, in Illinois, filing fees tend not to differ very much between counties. To file for a dissolution of marriage in DuPage County, it costs $290, though that is not the only filing fee or cost you will have to deal with. Whether or Not You and Your Spouse are Willing to Work Together Couples who are more argumentative tend to pay more for their divorces. This is rather obvious because you will be paying more money if you are spending more time coming to an agreement on issues. For example, a couple who has to have five to six negotiation sessions will be paying their lawyer more than a couple who settles the same issue in only two sessions.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

As much as it is an emotional process, a divorce is also a legal process that is meant to separate you and your spouse from having anything lawfully in common. Like any legal proceeding, this can take time to complete, especially when it comes to the division of your assets. This is typically a point of contention between spouses when getting a divorce. When you are married, you and your spouse may have accumulated a lot of property together, but asset division deals with much more than just physical property. You must also divide things such as retirement funds, bank accounts, life insurance, and even any debts you and your spouse owe. The state of Illinois has a specific process for doing this, and it is important that you understand how your assets will be divided in the event a judge must intervene.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

Change can be hard for anyone, but it can be especially difficult for children. When it comes to divorce, children will typically experience a lot of change in a short period of time. Their living arrangements will change dramatically, they will not be spending as much time with either parent anymore, and in some situations, they may even have to adapt to new routines. All of this change can be hard on children, because they depend on stability and routine so much. This is a known fact, which is why the state of Illinois requires every divorcing couple who has children to create a parenting plan before they can finalize their divorce.

What Is a Parenting Plan?

A parenting plan is a legal agreement that contains information about how two parents will take care of their children once they are separated. In Illinois, a parenting plan will contain information about how parenting time is divided, along with how parental responsibilities are allocated. The Illinois Marriage and Dissolution of Marriage Act (IMDMA) contains the basic elements that all parenting plans must include in order to be approved.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

If you think your divorce is stressful for you, it can be even more taxing on your children. For kids, their parents' divorce is a very confusing and tumultuous time. While it is completely normal for children to be sad, uncertain, or even angry when their parents are going through a divorce, it is important for you to understand that there are things you can do to make the change somewhat easier. Divorce is a process, not only for you but also for your children. Your job as a parent is to help your children through this process so they are able to come out on the other side stronger and more well-rounded individuals.

Breaking the News

Many parents do not know how to talk to their children about divorce, much less how to break the news to them. The way you first tell your kids about your divorce can set the tone for the entire healing process. You should tailor your conversation to your children; if they are younger, it is best to keep the message simple and sweet. If you have older children, you can provide a little more detail, but it is still important to only share the information they need to know.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

Making the decision to get a divorce is never easy. For many people, it takes months or even years to come to the conclusion that a divorce is their best option. Once a couple has accepted the idea of ending their union, they do not want to regress by going through a contentious and drawn-out divorce. For some couples, a collaborative divorce is a solution that works best for them. A collaborative divorce is a dispute resolution process that takes place in conference rooms or lawyers’ offices, rather than in the courtroom. The collaborative divorce process offers many benefits that the traditional divorce process cannot offer, including:

Less Hostility

One of the benefits that a collaborative divorce offers is the possibility of a more civil, less hostile divorce process. In a litigated divorce, you and your spouse are likely to have much more contention and may not be able to come to an agreement on issues. This does not mean that you and your spouse will not disagree with one another or that the negotiations will be simple in the collaborative process. However, you and your spouse are working together to create solutions that will benefit everyone in a collaborative divorce.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

Many people who get a divorce state that finances were the reason or at least played some part in the breakdown of the marriage. For those couples--and many other couples--the stress of money does not stop there. Many divorces are also quite contentious and filled with anxiety over the couple’s financial issues. Most couples have their assets intermingled in some way, and when they get divorced, they have to figure out how to separate them. Below are a few common financial issues that divorcing couples face and how best to deal with them.

Assessing Your Assets

Not all assets were created equally. Before you begin to do anything involving your finances, you need to understand them. Make a list of every asset you have. These can include:

• Cash

• Savings accounts

• Checking accounts

  Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

During the asset division phase of your divorce, you and your spouse will decide which marital assets you each get to keep. What you may not realize is that you will also have to figure out who will be responsible for your debts. Any debt that you and your spouse jointly incurred during your marriage is considered marital debt. This means both you and your spouse will be responsible for repaying that debt after you are divorced. When it comes to dividing what you owe, things can become contentious, since debt is one of the few things in your divorce that you will not be fighting to keep.

Try to Be Debt Free Before You File

Creditors do not care what a divorce decree says. All they care about is being reimbursed. Even if your spouse was ordered to pay back a certain debt, if your name is on that account, and your spouse does not pay, you could be held responsible. The easiest way to prevent any issues arising from your debt is by not having any debt when you file for divorce. This is not a possibility for some, though you should still try to wipe out as much marital debt as possible before you file for divorce.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

The idea of planning for your divorce before you are even married can seem counterintuitive to many, unromantic to some, and just plain wrong to others. While nobody wants to admit it, the prospect of getting divorced is a very real one. Depending on the source, the divorce rate in the United States fluctuates between 40 and 50 percent. Although prenuptial agreements may still hold a negative stigma, they are becoming more popular than ever, for a couple of reasons. For one, the average age of marriage has increased dramatically from what it was just a couple of decades ago. People who are older tend to be more established and have more assets and property that they want to protect. If you are thinking about getting a prenuptial agreement, the following are a few ways it can benefit you and your spouse:

You Get to Choose How Your Property Is Divided

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

All divorces have the potential to be complex, but when a couple has a high net worth, the proceedings tend to be even more complicated than normal. For couples who have an abundance of property or assets that are worth a lot of money, the divorce process will involve more decisions. Issues such as property division, spousal maintenance, and child support may be handled differently. People who have a high net worth can greatly benefit from a skilled divorce attorney who has experience dealing with high-value assets to help them figure out the best options for their situation. If you are involved in a high-net-worth divorce, here are a few things you should keep in mind:

1. High-Net-Worth Divorces Are Often More Contentious

When it comes to divorces that deal with high-value assets, it is much more likely for couples to be combative, especially when dealing with property division. When spouses have many assets, especially assets that are expensive, it can be even more difficult to figure out who gets what. It may be necessary to hire an appraiser to determine the value of any large assets or property such as real estate, businesses, vehicles, boats, jewelry, artwork, or other expensive items.

Continue Reading ››

 Posted on December 00,0000 in DuPage County divorce lawyer

Now known as the allocation of parental responsibilities, child custody can be one of the most contentious issues in a divorce. Even if you and your spouse agree on how you want to divide your property and debts, you may clash when it comes to deciding how parenting time and significant decision-making responsibilities will be allocated. Although you and your spouse may never want to speak to each other again, you will always share a common bond--your child. Determining how your child will spend time with each parent and what decision-making rights each parent will have for the child can be a daunting task. Below are some of the most frequently asked questions about the allocation of parental responsibilities in Illinois.

How Will Decisions About Parental Responsibilities Be Made?

Continue Reading ››