Every divorce is different. There are varying degrees of complexity ranging from an uncontested divorce, where a couple was married briefly, with no children, and few assets to divorces that involve contested child custody or complex financial assets. Because every situation is unique, it is crucial to work with an experienced attorney to reach a…Read More
Mistakes When Dividing Marital Assets in a Divorce
Divorce can be very traumatic, whether infidelity plays a role or one or both spouses decide to move on. Although healing from a divorce takes time, it is within your control now to work with an experience divorce attorney to avoid making mistakes that can have long term financial impacts. Be aware of common mistakes…Read More
House Owned by Spouse Prior to Marriage
One question that frequently arises during a divorce is ‘what rights does a spouse have to a house owned by the husband or wife prior to marriage if they divorce?” When couples marry, many cannot fathom their marriage might end in divorce, and as a result few consider what the financial consequences will be if…Read More
Shared Custody of Pets in an Illinois Divorce
Pet ownership is at an all-time high, with upwards of 65% percent of U.S. households counting a dog or cat as a family member. When couples divorce, they are often faced with the heart wrenching decision of who will get the family pet, dogs and cats long-viewed as property to be divided in a divorce….Read More
Dividing 401k, IRAs, and Pensions in a Divorce
When only one spouse contributes to a retirement account through their employer, they are often surprised that their retirement nest egg is subject to property division in a divorce. Any portion of a pension earned during the marriage is marital property subject to equitable division. Tax Consequences When Dividing Retirement Accounts in a Divorce Whatever…Read More
Protect Yourself Financially During Spousal Separation
It is not uncommon for couples to separate before they divorce, which often means living under separate roofs and leading separate lives until they start the divorce process. A question that comes up frequently from separated couples is whether their financial activities during the separation period will affect property division in a divorce. For example,…Read More
Stuck With Spouse’s Credit Card Debt After Divorce
Debt accrued during the marriage will be divided in a divorce. As part of the division of property, even balances on credit cards in only one spouse’s name will figure into the division of marital debt if purchases were made during the marriage. If you are considering divorce and are worried about continued spending on…Read More
Tracking Down Cryptocurrencies and Hidden Assets
As part of a divorce, both spouses are expected to provide full financial disclosure in order to equitably divide marital property. However, it is not that uncommon for one spouse to conceal certain assets in an effort to keep more of the marital bounty. Hidden assets might include money temporarily transferred to a family member…Read More
Uncovering Hidden Assets in a Divorce
When couples divorce, one spouse may worry that the other will lie about their financial situation or hide assets making it impossible to get a fair shake when it comes to child or spousal support or the division of marital assets. This fear is not unfounded as some spouses will go to great lengths to…Read More
Social Security Benefits When Divorcing After 50
Because divorces often occur later in a couple’s marriage, many have questions regarding what, if any social security benefits they are entitled to under the name of an ex-spouse. This is especially true when a spouse has little work history of their own, perhaps even making them ineligible for social security under their own record….Read More
