Asset Valuation in Illinois Divorce

 Posted on April 03,2014 in Divorce

One of the largest parts of any divorce process is the division of marital assets. In Illinois, judges divide the assets equitably, based on a variety of factors, including, but not limited to the following:

• spousal contribution to the marital estate;
• debts of the parties;
• age of the spouses; and
• tax consequences, among other things.

One important part of property division in divorce is the accuracy of asset valuation. This can have a large impact on how assets are divided because a mistaken asset valuation can lead to a judge’s incorrectly deciding what would constitute as equitable division.

For many assets, valuation is a simple, straightforward process. Items such as bank accounts and life insurance policies have readily accessible cash values that courts can use to make their decisions. The issue of value becomes less clear though, if the spouses have more complex assets, such as private corporations, stock portfolios, or real estate. These assets often exist without readily accessible markets to judge their worth, or have such rapidly changing value that getting a consistent estimation of their worth can be difficult.

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The Conversation: How to Tell Your Spouse You Want a Divorce

 Posted on March 30,2014 in Divorce

People looking for a divorce often hold off on initiating the process for fear of beginning the conversation with their spouse. Sometimes, people choose not to have the conversation beforehand, instead opting to simply serve their spouse with divorce papers. Although this saves them the initial awkwardness of the first talk about the divorce, the surprise and formality of being served can start the proceedings off in the wrong way, and may lead to more complications further along.

While there is no way to avoid the uncomfortable nature of the conversation, the pain and discomfort can be minimized through careful planning of the discussion’s circumstances and content. The first part of the planning relates to choosing where and when to tell your spouse. Then, you should consider how to open the conversation. Finally, you should consider your spouse’s possible reactions and how best to respond to them.

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Living Together During Divorce

 Posted on March 26,2014 in Divorce

No one enjoys the thought of interacting with their soon-to-be ex-spouse on a daily basis, which leads to people often living apart during the divorce process. In fact, Illinois law even allows one spouse to temporarily remove the other from the home under certain, limited circumstances.

However, for a variety of reasons, many couples do continue to live together through at least part of the divorce process. Many people face financial constraints that make living apart difficult in the short-term, and strategic considerations surrounding the divorce may also make staying in the marital house advantageous. Consequently, many people need to develop strategies for peaceful cohabitation until they finalize the divorce.

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Dating After Divorce

 Posted on March 21,2014 in Divorce

One of the biggest steps people take after getting a divorce is deciding to move back into the dating pool. People can often be apprehensive about taking this step, since they fear they are out of practice or that dating has somehow changed in the interim. While these fears are understandable, there are many strategies for overcoming them and having a full romantic life after a divorce. With that goal in mind, here are a few tips for handling a first date post-divorce.

Make Sure You Are Ready

 The first thing to consider is whether you are actually ready to get back to dating. Many people start dating as soon as the ink dries on the divorce papers, or sometimes even earlier. While that can certainly be the right decision for some people, others do it reflexively, since they are not used to being single and just want to find themselves back in a relationship. It is important for each person to take a deep breath and decide for themselves how long they need to process the events of their divorce. According to the US Census Bureau the median time between divorce and remarriage is over three years, although the correct amount of time is up to each person individually.

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Divorce Rates Rise Along with the Economy

 Posted on March 19,2014 in Divorce

Every divorce is a unique and personal matter that hinges on many different factors. An event that leads to divorce for one couple may not disrupt the relationship between another. Each case is different. However, that is not to say that there are not trends.

For example, social scientists have long believed that the health of the economy can affect the divorce rate, but there has been some debate on exactly what effect it has. Some scientists argue that the additional stress of difficult financial times should cause an increase in divorces, but a new paper from the University of Maryland, College Park offers the opposite opinion. The paper’s author analyzed the historical divorce rate between 2008 and 2011, and came to the conclusion that a downturn in the economy can actually keep people’s marriages together.

 The author sampled the divorce rate among 2.8 million women, and found that the divorce rate fell from 2.09 percent in 2008 to 1.95 percent in 2009, which was a year over year decrease of four percent. In absolute terms, this means that 150,000 fewer divorces happened in 2009 than one would expect based on 2008. Then in 2010 and 2011, as the economy began a slow recovery, the divorce rate rose with it, climbing back up to 1.98 percent. Additionally, history shows that this is not the first time such a trend has happened. Divorce rates showed a similar pattern throughout the 1930s as a result of the Great Depression.

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Adultery in an Illinois Divorce

 Posted on March 15,2014 in Divorce

Adultery is an emotionally difficult issue that affects 16 percent of marriages, according to the Wall Street Journal. Illinois law recognizes the disruptive effect that infidelity can have on marriages, and allows people to cite adultery as grounds for a “fault” divorce. However, many people are unclear on exactly how to prove adultery, and what effect it will have on their case if they can prove it.

How to Prove It

Proving adultery in a divorce can be a difficult proposition at times, since it can be challenging to get concrete evidence. If you suspect that your spouse is cheating on you, bills can be some of the easiest places to look. Phone bills, especially for cell phones, can often reveal unusual calling patterns that could provide information about an affair. Credit card bills can also help you determine how and where your spouse spends their money, which could reveal a secret relationship.

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How Couples Counseling Can Save a Marriage

 Posted on March 12,2014 in Divorce

Couples counseling can be an intimidating concept. No one immediately likes the idea of opening their relationship up to another person, but each year millions of people participate in couples counseling. Many find it to be a healthy and rewarding experience, and in some cases even a way to avoid divorce. Couples can increase these benefits if they take proactive steps beforehand. Learning what to expect, how to prepare, and what success means ahead of time can make the whole process easier and more approachable

 What to Expect

 Couples counseling is a conversation, sometimes with the counselor and sometimes with each other. While every counselor has a unique style, the early sessions will probably start off with open-ended “getting to know you questions.” The therapist will want to know what brought you to their office, and they will probably want to hear about the history of your relationship as well. The counselor could also split you up for some one-on-one time, or even bring you in for individual appointments so that they can get a better picture of what is going on in the relationship. Then, over the course of the sessions, the therapist will start to act as a neutral moderator, helping the couple openly and honestly discuss their relationship.

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Why You Can Be Thankful for a Divorce

 Posted on March 06,2014 in Divorce

People often view their divorce in a negative light, and that reflex makes a lot of sense. Divorce is, after all, an ending, and the process can be painful at times. But, divorces also have many positive aspects for which you can be thankful.

A divorce can be a freeing experience, it can decrease your stress level, and it can help you get a fresh financial start. While it is impossible to control the varying emotions that you may experience during the divorce process, it may be helpful to at least consider the positive aspects. Mentally reviewing some of the possible benefits of divorce can be helpful, especially during more stressful and contentious separations.

More Freedom

One of the biggest benefits to flow from a divorce is the freedom that comes with it. Relationships, even healthy ones, are built on compromises. Everything from which house you live in to what takeout place you order from becomes a two person decision. While such compromises are an important part of relationships, many people enjoy the freedom of no longer having to make them. After a divorce, people can find themselves redecorating rooms, reconnecting with old friends, and rediscovering hobbies that had fallen by the wayside during the marriage.

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The Cost of a Divorce Lawyer in Illinois

 Posted on March 04,2014 in Divorce

One question that weighs heavily on most people’s minds during the divorce process is, “how much is this going to cost me?” Unfortunately, that question does not have an easy answer. Divorces can be unpredictable, and their cost depends upon a variety of elements. But, just because a bottom-line figure can be difficult to reach, does not mean that you need to stay completely in the dark on costs. There are many common factors that affect divorce costs, and keeping them in mind can help you stay in control of your legal bills.

 Legal Fees

Legal fees often form the core of a divorce’s cost, but they can vary quite widely from lawyer to lawyer. The first issue to understand is the structure of attorney’s fees. Often attorneys break their fees down into two sections, the retainer and the hourly fee. The retainer is an up-front fee that some attorneys charge. They can vary widely depending on the attorney’s discretion and area, and range from around $2,000 to $10,000 or higher. Additionally, some attorneys make their retainers refundable under certain circumstances, while others choose not to.

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How to Tell Your Friends and Family about Your Divorce

 Posted on February 28,2014 in Divorce

When getting divorced, people often have a difficult time making it public. Deciding whom to tell, what to tell them, and how to go about it can be a complicated process. Everyone in this situation has individual relationships and issues with which to deal, but there are some strategies and tactics that can apply to a wide variety of scenario.

Telling Friends and Family

One of the first things to do when telling friends and family about your divorce is to figure out how close you are to them and how much they need to know. What you should tell a sibling or close friend about your divorce is probably quite different from what you should tell your boss. Once you know what you want to say, sit them down and tell them directly. A long lead-in to a conversation only serves to make people nervous.

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