Though divorce may be the right choice for a marriage, it is far from the easy one. It can be mentally and emotionally draining. As a complex and nuanced legal process, it can also be financially draining if not approached in the right manner. Reduce the risk of significant financial issues during your Illinois divorce by taking these five steps during the preparation phase.

1. Track Your Income and Expenses

Start tracking your income and expenses, as soon as you realize that divorce is inevitable. The more financial information you have, the better. Check bank accounts, stocks and bonds, savings accounts, any investment interests, retirement accounts, and any educational savings accounts that you and your spouse may have set aside for your children. Also, ensure you know exactly how much income you and your spouse bring in each month. 

You’ll also want to take stock of any assets that you and your spouse may own. This can include: 

It takes a great deal of money to raise a child, especially one with special needs. There are often added expenses for medical treatment, therapies, and perhaps even therapeutic or medical equipment. Thankfully, when parents are separated or divorced, these added expenses can be factored into an order for child support. Learn more, including how a seasoned family law attorney can improve the outcome of your case, in the following sections. 

How Child Support is Calculated in Illinois 

Illinois uses what is known as the “income shares” model to determine the amount of support a parent owes. The process starts with an economic table, supplied by the Illinois Department of Healthcare and Family Services, to determine the cost of raising the child. 

That amount is then compared to the net income of each parent to determine what their obligation of support should be. The closer the receiving parent’s income is to the obligated paying parent, the less the support will generally be. The goal is to try and balance out the cost and ensure that neither parent is overly burdened by the cost of supporting the child. 

The division of assets can be one of the biggest sources of contention in an Illinois divorce. Part of the reasoning for this can be attributed to the term “equitable distribution,” which essentially means that each party is entitled to their “fair share” of the marital estate. What is your fair share, and how can you ensure you get it during your divorce? The following explains. 

Determining Your “Fair Share” in an Illinois Divorce 

Nothing in life is fair - especially not divorce. Yet, this is the terms that courts use when dividing assets in an Illinois divorce. What might your fair share look like? A few factors are used in reaching this determination, including: 

• The overall value of your marital estate;
• Your capacity to earn an income;
• Your spouse’s capacity to earn an income;
• Any involved children (and their needs);
• Non-marital assets that may improve your living standard;
• Which assets may be held by either party after the divorce; and
• Any limitations that may hinder a party’s ability to earn a living. 

Essentially, the courts want to do what they can to ensure that you and your spouse are nearly equal in assets and income, once the divorce has ended. Achieving this lofty goal can be quite difficult, however, especially if there are hidden assets or deceptive practices involved. 

Child custody battles can get ugly, fast, and in some cases, there is a need to ensure that the child’s well-being is not at risk. In these situations, a Guardian Ad Litem may be appointed. What do you do if this happens during your Illinois custody case, and how should you respond? 

Avoid the Panic and Prepare for the Process 

When parents learn that a Guardian Ad Litem, they often go into panic mode. Unfortunately, this does nothing to benefit the case. In fact, if anything, such a reaction could jeopardize the proceedings and, ultimately, the outcome of your Illinois child custody case. As such, it is recommended that parents put their energy into preparation, rather than panic. 

If you have not done so already, ensure you have legal representation to help you through the process. Also, consider taking a parenting class to prove that you are not just a good parent, but a proactive one. Parents should also prepare for the interview and home study process, which are fairly standard in cases involving a Guardian Ad Litem. 

Adoption can be a rewarding way to grow your family. Unfortunately, there are many would-be parents who worry that they are not “good enough” to adopt. Perhaps they struggle to balance their work and home life, or maybe they do not have the best upbringing. Rest assured that these issues may be less relevant than you think when trying to adopt. Learn more about what adoption agencies are looking for in an adoptive parent, and discover how our seasoned family law attorneys can help you skillfully navigate the emotionally trying and legally complex process. 

Adoption Agencies Want Loving and Committed Parents

Raising a child is hard work that takes a lot of love and dedication. Adoption agencies understand this, which is why they are less focused on perfection and more concerned with finding loving and committed parents. If you are willing to go the distance for your child, be it financially or by simply ensuring that they have a happy, stable childhood, then adoption may very well be the right path for growing your family. 

Adoption Agencies Want Children to Live in a Safe Environment 

Safety is a critical element in a child’s home - for both obvious and not so obvious reasons. Little kids move quickly, and they are often unable to recognize just how dangerous a situation or object can be. That is why they need attentive, loving parents to watch over them. If you can offer this, then you may be exactly the kinds of parent that the agencies are hoping will apply.