Posted on March 10,2023 in DuPage County Divorce Attorneys

A prenuptial agreement is an agreement that two spouses make before marriage. The agreement details how the spouses will handle their assets, debts, or other finances if the couple divorces or a spouse passes away and will go into effect when the couple gets married. 

While many people assume that prenuptial agreements can lead to complications within their marriage, they actually can do the opposite, creating an arrangement that removes any potential doubt parties may have regarding their financial interests in the case of a divorce.

There are several reasons why a couple may decide to get a prenuptial agreement. Some examples are children from a past marriage or just wanting to protect their personal assets or future inheritance. The prenuptial agreement must be in writing, agreed upon, and signed by both spouses. A court will typically enforce most prenuptial agreements, except for the few exceptions under certain circumstances, especially if the agreement seems grossly unfair or assets are distributed unjustly. 

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 Posted on March 06,2023 in Postnuptial Agreements

 Postnuptial agreements are voluntary agreements made during an existing marriage laying out financial agreements that a couple may want to establish in the case of a divorce. If the agreements are fair and agreed upon by both parties, then the postnuptial agreement will be enforced in the event of the death or divorce of a spouse. However, if the agreement is found to be unconscionable, or extremely unfair,  then it could be thrown out.

A few other scenarios that may invalidate a postnuptial agreement include coercion, a spouse misrepresenting themself, or incomplete financial disclosure. If the postnuptial agreement is one-sided, the court may change certain aspects of the contract to ensure that both parties get a fair deal. 

Is a Postnuptial Agreement Right For You? 

There are several reasons why a couple may consider entering a postnuptial agreement. The primary role of a postnuptial agreement is to protect the spouses’ assets and ensure that assets are split relatively in the case of a divorce.  

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 Posted on February 27,2023 in Division of Assets

When it comes to owning a business, whether it be a startup, a franchise, a family business, or an established company, having an accurate business valuation is essential when going through an Illinois divorce. An accurate valuation can help to ensure that each of the parties within the divorce can receive fair settlements and a fair split of any debt sustained during the marriage. 

Valuation Paves the Way for Asset Division in Divorce 

Illinois is an equitable distribution state, meaning that any marital assets will be split fairly. If the business in question was started before the marriage, then it would likely be considered a non-marital asset. If the business was acquired during the marriage, then it will be considered a marital asset. However, determining ownership is rarely this straightforward. 

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 Posted on February 23,2023 in DuPage County Divorce Attorneys

According to Illinois law regarding relocation with a child, divorced and unmarried parents who share parental responsibilities and parenting time may need to get court approval to relocate with their child. If a parent has most or an equal amount of parenting time and wishes to move, there are certain requirements and procedures to follow. 

When Is Court Approval Not Necessary? 

If a parent wants to relocate their child and has no interest in getting the court involved, there are a few certain situations where they will not need to:

• The parent lives in a collar county in Illinois and wishes to move less than 25 miles away

• The parent is outside the collar counties and wishes to move less than 50 miles away

• Both parents agree to the relocation 

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 Posted on February 22,2023 in DuPage County Divorce Attorneys

If any debt was taken at any point within the marriage, then that is considered shared between the parties. All marital debts and assets will need to be addressed during an Illinois divorce. Typically, any debt a party incurred before the two were married is considered non-marital property and will be the party's sole debt and responsibility. However, there are exceptions to this. 

If the parties are unable to agree on how their debts should be divided, then the court will step in and decide how to divide debt. Illinois is an equitable distribution state, meaning that debts and assets will be split fairly during an Illinois divorce,

Divorcing Spouses are Encouraged to Pay Off Debt 

Many divorce lawyers encourage divorcing spouses to pay off jointly held debt. Creditors are not required to absolve someone of their debt just because they got divorced. It is possible for a spouse to be pursued for repayment of debts that the other spouse amassed months or years after the divorce. If you are getting divorced and you and your spouse share debts, you may want to consider selling assets such as the marital home to pay down these debts. 

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 Posted on February 13,2023 in DuPage County Divorce Attorneys

During a divorce, an ideal situation is that both parties can negotiate and settle on terms on their own. If both parties agree on how to divide assets, parenting time, and finances, they can save time, money, and stress. Divorce mediation can be an effective tool for parties to find a resolution that works for everyone. 

During divorce mediation,  couples can use the help of a third-party mediator to facilitate communication, negotiate and resolve conflicts between them. The mediator helps the couple understand their own interests, explore options for settlement, create a mutual agreement, and prepare the necessary paperwork.

Divorce mediation is often faster and less expensive than traditional divorce proceedings. It also helps both parties avoid the stress and bitterness of a court battle. 

How Does It Work? 

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 Posted on February 09,2023 in DuPage County Divorce Attorneys

 Divorce can be taxing and complicated. With all the different elements that go into getting a divorce, many people may feel overwhelmed at the thought of navigating through all these complexities. Divorce is not a fun process to go through, but if you can understand the basics of Illinois divorce law, you will be in a better position to steer your way through the twists and turns that can go into a divorce. Working with an experienced divorce lawyer can also significantly reduce your stress and provide you with the legal guidance you need. 

Grounds For Divorce 

Illinois is a no-fault divorce state. This means that parties do not need to prove that there was a fault for the end of the marriage. Since the law changed in 2016, the only grounds for a divorce in Illinois are irreconcilable differences. There are however a few elements that parties must prove to get a no-fault divorce in Illinois: 

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 Posted on February 06,2023 in DuPage County Divorce Attorneys

Do grandparents have visitation rights in the state of Illinois? While it is recognized that extended family members play important roles in children's lives, their right to see their grandchildren are more complicated than one may think. 

Visitation occurs when a person who is not a parent of the child spends time with the child. While visitation used to also encompass parents spending time with their child, now that is referred to as parenting time.

Granting Visitation Rights 

The parents of the child are the ones  in charge of how they raise their children and who their children spend time with. Parents have the right to keep their children away from grandparents. However, in Illinois, a grandparent can petition the court for visitation. Grandparents must meet the following requirements to qualify for grandparent visitation rights: 

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 Posted on January 30,2023 in DuPage County Divorce Attorneys

 Child support is a legal obligation that parents have to support their children financially. When unmarried parents have a child together or married parents get divorced, the court may require one of the parents to pay child support to the other. Money from child support can be used to cover housing expenses, educational costs such as private school tuition, extracurricular fees, groceries, and everyday expenses. Whether you are planning to divorce soon or you are an unmarried parent, it is important to know your rights and responsibilities regarding child support.

How Is The Amount Of Child Support Determined In Illinois?

The amount of child support that a parent is required to pay is determined by the state's guidelines. These guidelines take into account the income of both parents, the number of children, and other factors. Income is determined by looking at the net income of both parents, which includes salary, wages, bonuses, commissions, and other forms of income. The guidelines also take into account any other children from a previous relationship that the parents are responsible for supporting.

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 Posted on January 23,2023 in DuPage County Divorce Attorneys

Two motivated, ambitious, and hardworking partners are often found in high net worth relationships. These couples can amass sizable fortunes both before and throughout the years of their marriage if they combine prudent spending and great investing habits. And although this might be advantageous in many ways, a high net-worth couple's financial portfolio may cause more issues than it solves if they decide to get a divorce. 

Here are some obstacles to be aware of if you are thinking about divorcing and are concerned about how it could affect your financial situation.

High Net-Worth Divorces Take Longer

Due to the careful, thorough treatment required by a vast asset portfolio, high net-worth divorces typically take longer to conclude. As a general rule, any property bought during a marriage with marital monies is marital. However, couples must first evaluate how much of any particular item is personal and how much is marital. Even private assets, nevertheless, might become mixed up with marital assets, occasionally necessitating the need for intricate asset tracking and appraisal.

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