Thumbs Up Thumbs Down
Share Your Experience
X

Category Archives: Property Division

DuPage County divorce lawyersEven in the simplest of cases, divorce can be a complex matter. If you add in assets that are difficult to divide, such as a retirement account or pension plan, the process can become even more difficult to effectively navigate. Thankfully, divorcing parties can improve the outcome of their case by ensuring they have the assistance of a seasoned divorce team on their side. Learn more about retirement plans in divorce, including the importance, challenges, and risks completing a qualified domestic relations order (QDRO) with help from the following information.

What is a QDRO?

Most often seen in divorce proceedings, qualified domestic relations orders are used to instruct the plan administrator on how the benefits of a retirement plan will be paid to a non-employee (the spouse of an employee). Required only in ERISA-qualified plans, these documents are complicated and subject to approval from the administrator. There are also federal regulations that must be adhered to and tax consequences that one must consider when completing their QDRO. As such, individuals are discouraged from pursuing a QDRO without the assistance of an experienced legal professional.

Continue reading

Wheaton divorce attorneysDuring an Illinois divorce, a couple’s debts and assets are valued, summed, and then equitably divided. Of course, some assets are far easier to split than others. Take, for example, vehicles. Most couples have two – one for each spouse. In divorce, each typically takes their own vehicle.

The family home is far more difficult to divide, for both obvious reasons and not-so-obvious ones. Businesses are also extremely difficult to divide in divorce. Learn more in the following sections, including how an experienced divorce attorney can improve the outcome of your case.

Dividing a Business in Divorce

Continue reading

DuPage County divorce lawyersParenting changed the moment the first in vitro fertilization baby was born back. One would think that, since then, the law would manage to sort out what happens to a fertilized embryo if the prospective parents should ever divorce. Yet, as many couples learn, this is not the case. In fact, in the last 25 years, little progress has been made regarding the rights of each divorcing individual to either procreate or not procreate – but that could all soon change.

In a case that is set to be heard by the high courts in Colorado, an individual’s Constitutional right to procreate or not, and whether one outweighs the other person’s, will finally be ruled upon. Learn more about how and why this upcoming case is different than the previous IVF divorce cases, discover what the court’s potential decision could mean for your case, and gain insight as to how an experienced divorce lawyer can help improve the outcome of your situation.

More on the High Court Case

Continue reading

Wheaton divorce lawyersMost divorcing parties know that an attorney can benefit them during a divorce, but few understand the role or importance of a financial advisor. Able to examine your financial situation and work closely with you and your attorney, these professionals are known for their ability to plan far into the financial future. Learn how having both a financial advisor and an attorney during your divorce may improve your life, long after the divorce is over.

What Does a Financial Advisor Do?

Financial advisors, such as Certified Public Accountants (CPAs) help individual’s make smarter decisions with their money. That can include large sums of money, but it can also pertain to one’s monthly or annual cash flow. For example, an advisor may notice that you are spending a lot of extra money on various memberships that could be combined to offer the same benefits at a lower price. They can also search for spending patterns that may be hindering your ability to reach or maintain financial stability. A financial advisor may even be able to provide you with the knowledge and tools that you would need to achieve a financial status that goes beyond survival and stability to create a sustainable source of future wealth (i.e. starting an investment portfolio to fund your retirement).

Continue reading

Illinois divorce lawyersHistorically, pets have been treated more like furniture in divorce than living, feeling beings – but that is all about to change. A new divorce law, set to take effect on January 1, 2018, changes that. Learn more about this new law and how it may affect your divorce, and discover how an experienced lawyer can assist with the various aspects of your case, such as your right to continued pet ownership after an Illinois divorce.

A Closer Look at the New Law

As the law stands now, pets are treated as an asset in the marital estate but because they cannot be divided like other assets, they typically go to the owner that paid for the animal’s care (or the one that can most feasibly continue to financially care for the animal). Sadly, this has resulted in many pets being separated from the owner that loved them most. There have also been cases in which spouses have fought for a family pet out of anger or retaliation, only to neglect or surrender the beloved companion once everything is over.

Continue reading
Abraham Lincoln A lawyer’s time and advice are his stock and trade. -Abraham Lincoln
Warrenville Office
Address28371 Davis Parkway
Suite 103
Warrenville, IL 60555
Phone(630) 657-5052
Fax(888) 350-9195
Wheaton Office
Address1776 S. Naperville Road
Building A, Suite 105
Wheaton, IL 60189
Phone(630) 580-6373
Fax(888) 350-9195
Chicago Office
Address321 N. Clark Street
Suite 900
Chicago, IL 60654
Phone(312) 985-5676
Fax(888) 350-9195
Joliet Office
Address58 N. Chicago Street
7th Floor
Joliet, IL 60432
Phone(815) 582-4901
Fax(888) 350-9195
Davi Law Group, LLC handles family law, estate planning and real estate matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Kendall County and Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Carol Stream, Darien, Downers Grove, Elmhurst, Geneva, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lisle, Lombard, Naperville, Oak Park, Oak Brook, Oswego, Park Ridge, Roselle, St. Charles, Villa Park, Warrenville, Wheaton, Winfield, Woodridge and Yorkville, Illinois.
Warrenville Office
Address28371 Davis Parkway, Suite 103, Warrenville, IL 60555
Phone(630) 657-5052
Fax(888) 350-9195
Wheaton Office
Address1776 S. Naperville Road, Building A, Suite 105, Wheaton, IL 60189
Phone(630) 580-6373
Fax(888) 350-9195
Chicago Office
Address321 N. Clark Street, Suite 900, Chicago, IL 60654
Phone(312) 985-5676
Fax(888) 350-9195
Joliet Office
Address58 N. Chicago Street, 7th Floor,
Joliet, IL 60432
Phone(815) 582-4901
Fax(888) 350-9195
Contact us
Chat Us Text Us