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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 Posted on January 18,2023 in DuPage County Divorce Attorneys

An amount of money defined as spousal maintenance, spousal support, or alimony is paid by one spouse to the other after a legal separation or divorce. In the state of Illinois, a court may order spousal maintenance or the decision to provide spousal support may be agreed upon by the parties. The duration of a marriage, the respective wages of each spouse, and the contribution of each spouse to the marriage are all important considerations in coming to a conclusion on the issue.

Negotiated Agreements for Spousal Support

Spousal maintenance conditions can be negotiated by each party in a marriage agreement or throughout the divorce process, much like other divorce-related issues. The court will normally respect a postnuptial or prenuptial agreement that the couple had previously reached for maintenance during a divorce.

If no prior agreements between the previously married parties has been made, the spousal support’s duration and amount may be negotiated by the parties throughout the process of divorce.

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 Posted on January 13,2023 in DuPage County Divorce Attorneys

Starting the divorce process might feel like an insurmountable challenge. Everyone engaged in a divorce suffers greatly emotionally, but navigating the process's legal steps and administrative details may also be stressful. Starting might be the hardest part, as it is with many things in life. The Andrew Cores Family Law Group has years of experience to assist you in taking that initial step and starting your new life.

Determine Your Own Divorce Situation

There are numerous factors to take into account while starting the divorce procedure, but the marriage itself must be evaluated first to decide where to start.

Many factors will determine how to approach ending the marriage. Think about it:

• Is the divorce in dispute? For a divorce to be uncontested, both parties must consent to end the marriage and agree on the relevant divorce issues, such as property division and allocation of parental responsibilities. If the spouses disagree on one or more of these issues, it will impact how the couples' property, financial, and custody disputes are resolved. 

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 Posted on January 10,2023 in DuPage County Divorce Attorneys

Going through a divorce can be a difficult and emotional time, and one of the major areas of concern is often the division of assets. If you or your spouse owns a business, the valuation of that business can be a complex and contentious issue. Here are some key things to consider when it comes to business valuation during a divorce in DuPage County, Illinois.

Why Is Business Valuation Important In A Divorce?

When a couple gets divorced, their assets must be divided between them. This includes any businesses that either spouse owns. In order to determine how to divide the business, it must first be valued. The valuation of the business will help determine what each spouse's share of the business is worth, and therefore how it should be divided.

What Factors Are Considered In Business Valuation?

There are several factors that are taken into consideration when valuing a business for divorce purposes. Some of the most common include:

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 Posted on January 05,2023 in DuPage County Divorce Attorneys

Grandparents frequently have a significant impact on the lives of their grandchildren. This may be particularly true in cases where one or both parents of a child are absent from the child’s life because of criminal activity, drug use, neglect or abuse, or even passing away. A grandparent's presence and influence may be a crucial support system for a youngster who needs direction and love in trying circumstances like these. 

If this situation seems familiar to you, you might find solace in knowing that grandparents’ rights in Illinois may, under certain circumstances, include visitation rights. If a grandparent is granted visitation rights by a court, such rights are enforceable in the same way that parental visitation rights would be. 

When Can a Grandparent Get Visitation of a Grandchild in DuPage County, Illinois? 

Although grandparents frequently provide wise parenting advice gleaned from years of experience, dissenting views from a child's parents or a close bond with a child are not enough for a grandparent to be granted visitation on their own. One of the following conditions must be met before a court will consider a case requesting grandparent visitation:

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 Posted on December 28,2022 in Child Custody

In Illinois, it is important for parents to work together to find a solution that is in the best interests of each child. If one parent wants to move but parents are unable to come to an agreement, the court may need to make a decision about a child's relocation. It is important to work with an experienced attorney who can help navigate these difficult issues and advocate for your preferences for your family’s arrangements.

Determining the Best Interests of the Child

One difficult issue with child relocation after divorce is determining what is in the best interests of the child. When a parent wants to relocate with a child, the court will consider several factors to make this determination. These factors may include the child's physical, emotional, and psychological well-being, as well as the child's relationships with their parents, siblings, and other family members, the distance of the move, and the child's educational and social opportunities at the new location. Any history of abuse or neglect by either parent will also be considered in the decision.

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 Posted on December 20,2022 in Division of Assets

Divorce can be a complex and emotionally challenging process, and one important aspect that needs to be addressed is the division of debt. In DuPage County, Illinois, the courts use a principle known as "equitable distribution" to determine how debts should be divided between divorcing spouses. Here is an overview of what you need to know about division of debt during a divorce in DuPage County.

How Debt is Divided in DuPage County

Equitable distribution means that the debts are divided in a way that is fair and just, taking into account the financial circumstances of both parties. Although couples are encouraged to find a debt allocation that is agreeable to both partners, this is not always possible. When a couple cannot decide on debt division issues themselves, the court will consider factors such as the length of the marriage, the income and earning potential of each spouse, and the ability of each spouse to pay their debts.

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 Posted on December 19,2022 in Order Enforcement

Divorce judgment enforcement in Wheaton, IL can be a complex and difficult process for those involved. If your spouse is not in compliance, it is important to understand the legalities and steps involved in order to ensure that your judgment is enforced properly and in a timely manner.

The Role of the Court in Divorce Judgment Enforcement

When a divorce judgment is issued, it is the responsibility of the court to ensure that it is enforced. This can involve a range of actions, including garnishing wages, seizing assets, and ordering the sale of property. In some cases, the court may appoint a third party, such as a mediator or an arbitrator, to assist with the enforcement of the judgment.

The Process of Divorce Judgment Enforcement

The process of divorce judgment enforcement in Wheaton, IL typically begins with the court issuing an order to the party who is required to comply with the judgment. This order may specify the actions that must be taken, such as the payment of child support or the transfer of judgment assets.

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 Posted on December 13,2022 in Order Modification

Divorce settlements are created with the idea that they will endure forever. While this could be true for couples who separate without children or alimony obligations, certain elements of divorce settlements seldom stand the test of time. Fortunately, the divorce laws in Illinois' court system take this scenario into account. 

At the Andrew Cores Family Law Group, our divorce judgment modification attorneys have helped clients make changes to many aspects of their divorce including spousal support, child custody, and child support. It may be feasible to amend certain sections of the divorce decree if important areas of your life have changed. Our experienced lawyers can answer your inquiries in consultation with clarity and detail.

Spousal Support Modification

There are several reasons for either spouse to ask for adjustments, regardless of whether maintenance is temporary or ongoing. These adjustments are often only accepted in cases when a person's circumstances have significantly changed. The payor may ask for their payments to be decreased or stopped if they lose their employment, have serious health problems, or run into other problems that make it difficult for them to make support payments. It may be appropriate to ask to have spousal assistance stopped if the receiver starts making more money and is able to live independently without it. If the recipient gets remarried or begins a new relationship in which they cohabitate with a romantic partner, spousal maintenance can also be ended.

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 Posted on December 09,2022 in Prenuptial Agreement in Illinois

Prenuptial agreements, also known as premarital agreements or prenups, are becoming increasingly common in the state of Illinois, including in Dupage County. These agreements are contracts that are entered into by two people before they get married, and outline how their assets will be divided and what will happen to alimony payments if the couple divorces.

Prenups can be an essential tool for protecting the financial interests of both parties in a marriage. In Illinois, the law provides that a lawyer must represent each party in a prenup, and the agreement must be fair and reasonable at the time it is signed. If a prenup is found to be unfair or one-sided, a court may choose to not enforce it.

Reasons for Prenuptial Agreements

One of the most common reasons people enter into a prenup is to protect their separate property, such as assets they owned before the marriage or inheritances they expect to receive. Without a prenup, these assets may be considered marital property and subject to division in the event of a divorce. A prenup can also be used to establish how property acquired during the marriage will be divided, such as a family business or real estate.

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