Recent Blog Posts
How to Value Your Business During a Divorce in Wheaton, IL
Posted on November 15, 2022 in Asset Division
Considerations about money and property are frequently among the most challenging aspects of divorce. Depending on the contents of your marital estate, dividing your assets can be both very complicated and profoundly emotional.
At the Andrew Cores Family Law Group, we are aware of how challenging divorces may be when a company or professional practice is considered to be a component of the marital estate. If you are getting divorced, it is important to understand the process of business valuation and your rights to your marital assets.
Three Ways to Value Your Business During a Divorce
There is no one-size-fits-all method for valuing a business during a divorce, and an experienced lawyer and forensic accountant will often select one of the following three approaches:
What You Need to Know About Prenuptial Agreements in Wheaton, IL
Posted on November 10, 2022 in Prenuptial and Postnuptial Agreements
It is smart to think about the advantages of a prenuptial agreement if you are getting married or considering asking your significant other to marry you. Contrary to common misconception, signing a "prenup" is not only a way to "get ready for divorce," and in many circumstances, having an established agreement throughout a marriage will be advantageous for both parties.
Without the help of an experienced attorney, it can be challenging to secure the legitimacy of a prenuptial agreement because the rules governing them are continuously changing. Our attorneys at the Andrew Cores Family Law Group keep up with case law developments and adapt any new knowledge to the issues and circumstances of our clients. We will help you ensure that your prenuptial agreement complies with all current legislation to avoid having it declared void.
What Can a Prenuptial Agreement Cover?
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Four Kinds of Alimony to Consider During a Divorce in Dupage County
Posted on November 08, 2022 in Alimony/Spousal Support
In the state of Illinois, the law calls alimony "spousal maintenance" and it could potentially be long-term if the receiving spouse is unable to make a living or if the marriage was also long-term. Despite whether or not someone feels they should have to support their spouse financially, a judge will apply the law and both parties will have to follow the guidelines in the law.
It is possible for a couple to get divorced without involving spousal maintenance, but if a judge orders it in their particular divorce case, alimony must be a part of the conversation regarding finances during the divorce process. Because it could be a requirement in divorce proceedings, it is important to understand the four kinds of alimony.
Temporary Alimony
A spouse who is granted temporary alimony (otherwise known as "temporary maintenance") receives money while the divorce is still proceeding. Temporary alimony is typically granted in situations when the couple has made the decision to live apart, or when the receiving spouse does not have the ability to pay for their own cost of living and attorneys’ fees, and is meant to fund the recipient's living costs throughout the divorce. While it is possible to file a request later on during the divorce process, a spouse who wants temporary alimony should include the request in his or her divorce petition. Once the divorce is finalized, all interim alimony payments cease.
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Three Things to Consider for High Asset Divorce In Wheaton, IL
Posted on October 28, 2022 in Asset Division
Dividing marital assets is always a difficult aspect of divorce, but it gets even more acrimonious and difficult when couples with high net worths try to share their assets evenly after their marriage.
If you are a part of a high-asset divorce, you need an attorney who will pay attention to your worries, assess your case, and clarify these three challenging problems while giving you advice on what makes sense in your particular circumstance.
Division of Assets in High Asset Divorce
The division of assets is a crucial factor in any divorce, but it is especially vital in a high-asset divorce. Spouses may negotiate a division of assets that leaves each party with assets of relatively equal worth. One partner may, for instance, receive the majority of the stock and liquid assets, while the other may receive the majority of the real estate or retirement benefits. The necessity for spousal maintenance payments might be reduced or even eliminated in some situations if significant real estate and assets are divided. Spousal support may be the key issue in other situations with extremely high incomes.
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What to Know About Your Retirement Accounts During a Divorce in DuPage County
Posted on October 25, 2022 in Asset Division
You put a lot of effort into earning your money and carefully planned for your future, including retirement. Unfortunately, a divorce can derail such goals. Knowing how your divorce may impact your retirement accounts is the first step in safeguarding them.
The experienced attorneys at Andrew Cores Family Law Group will assist you in getting your future back on track while safeguarding your retirement accounts and settling difficult issues with your spouse.
Dividing Retirement Accounts
According to Illinois law, the percentage of your retirement and investment accounts that you accumulated during marriage may be split between spouses in a divorce, including:
If one spouse had money in a retirement account before getting married, that money is regarded as separate property. Even if only one spouse made contributions to the account, any money that was added after the marriage is typically regarded as marital property.
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Basics and Benefits of Divorce Mediation in Wheaton, IL
Posted on October 21, 2022 in Mediation
Mediation can save a lot of time, money, and worry when it comes to your family law issues, including divorce. Because private mediation occurs outside the purview of the court system, it typically benefits everyone involved and assists in maintaining a more peaceful family life, which is particularly advantageous for any children involved.
Our mediators can help you mediate your divorce or another family law issue. With our experience dealing in these manners, we can help you navigate the procedure in hopes of meeting the requirements of both parties.
Divorce Mediation Basics
A mediator is typically not an attorney. Therefore, as will be stated during your initial mediation session, he or she is impartial to the interests of both parties. This means that they cannot and will not offer legal counsel to any side throughout the process of discussions.
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Understand Your Rights as a Grandparent in DuPage County
Posted on October 11, 2022 in Family Law
The state of Illinois has acknowledged that grandparents frequently play a significant part in a child's life. If you are a grandparent, you may have questions and concerns about your rights. Can I get custody of my grandchild? What if my grandchild’s parents will not allow me to see him or her? Can I get visitation rights? The rights of grandparents can be complicated and difficult to understand. A family law attorney can help.
Are You Entitled to Grandparent’s Visitation?
Illinois grandparents may, however, have a legal right to see their grandchildren, especially if the parents are divorced.
In general, the choice of who can spend time with a child belongs to their parents. However, if a child is at least one year old, a non-parent may be able to get a court order compelling the parents to allow them to spend time with the child.
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How is Marital Debt Handled During a Divorce in Wheaton, IL?
Posted on October 07, 2022 in Asset Division
Money is frequently one of the top concerns for the majority of couples going through a divorce. After a marriage ends, bank account balances can have a great impact on an individual’s ability to maintain their financial situation after a divorce.
It can be challenging for each partner to revamp their finances to bounce back from and adapt to the lifestyle changes that divorce brings. Additionally, marital debt and asset disputes can make it even more difficult.
What is Considered Marital Debt in Illinois?
Debts and other ongoing commitments are included as financial considerations for partitioning marital property under the Illinois Marriage and Dissolution of Marriage Act. According to the law, "marital property" refers to any assets (or obligations) obtained by either spouse during the marriage. This implies that any joint loans, credit lines, or accounts created in the names of both spouses are marital property and would be shared equally by them both in the case of divorce. From credit card debts, mortgages, and auto loans to medical bills and unpaid taxes, these obligations can range widely.
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Three Things You Should Understand about Paternity Cases in Wheaton, IL
Posted on October 04, 2022 in Paternity
The importance of both parents being involved in a child's life is increasingly acknowledged by Illinois courts. Our experienced family law attorneys at the Andrew Cores Family Law Group understand the seriousness of paternity cases and how legal issues can be managed through a difficult time to benefit the child involved in the paternity dispute. Depending on your situation, you have lots of things to consider. Here are three things you should know about paternity in Dupage County.
Paternity Tests in Illinois
If either the mother or the father of a child files a paternity lawsuit, the court will often set up a DNA test for the parties to determine the child's parentage.
It is normally advised to get a DNA test done before determining parenting time, child support, and other matters if there is doubt regarding who the biological father is. This is because, even in circumstances when the alleged father later finds they are not the biological father, it is highly rare for an Illinois court to revoke a prior judgment agreeing to paternity.
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Complex Factors That Can Affect Parenting Time Agreements
Posted on September 30, 2022 in Child Custody
In Illinois, the term “child custody” was replaced with “allocation of parental responsibilities” and “parenting time” several years ago when lawmakers did a complete overhaul of the state’s family law statutes. Regardless of what it is called, the reality is that determining how divorced parents will share in the raising of their child is often one of the most acrimonious parts of a divorce.
It can be difficult enough to come up with a fair parenting time schedule that addresses holidays, birthdays, school breaks, summer vacations, and more. But when there are other issues that impact parenting time, having a skilled family lawyer representing you can make all the difference in the outcome. The following are some of the issues that can make a parenting time schedule even more complex.
When One Parent Has Moved Away
It is not uncommon for a spouse to move a long distance away, even to another state, after a divorce in order to get a fresh start or start a new job. Regardless of why the parent has moved, when there are children involved, a long-distance parenting time schedule is needed. Some of the factors that the court may consider include:
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