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Illinois parenting time lawyersFathers offer something special to their children. They are more likely to engage in physical activity with their kids than moms, and they can help children understand societal roles. Unfortunately, dads continue to receive less parenting time than mothers when the family separates in a divorce. What is more, Illinois is one of the worst states for dads seeking shared or equal parenting time. What might this mean for your Illinois divorce case, and how can you increase the time you might receive with your children? The following information explains. 

Illinois Ranks as One of the Worst States for Shared Parenting

Recent data indicates that children do not suffer, but instead typically benefit greatly from equal time with both parents. In light of this information, many states have started to move toward more equal parenting time among divorcing parents, and 25 attempted to implement laws that would either encourage 50/50 shared parenting time or make it the default. Illinois has even attempted to increase the amount of parenting time that dads receive in divorce, but the state continues to lag behind many other states in the country. In fact, one survey found that Illinois children spend an average of only 23.1 percent of their time with their fathers. Thankfully, under new state laws that have been implemented over the last couple of years, fathers can fight for close to equal time with their kids. 

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Illinois divorce lawyersThe valuation and distribution of assets is one of the leading sources of contention during a divorce - even more so when the assets are unusual or otherwise difficult to value. For example, artists and other creative individuals may be required to value and split the value of their works. Art collectors may be subject to the same valuation and division of their beloved artwork. Other collectibles and family-run businesses can also be difficult to divide. Learn what you need to know about dividing difficult to value assets in your Illinois divorce, and discover how a seasoned divorce lawyer can assist you with the process. 

Placing Value on Unusual Items During Divorce 

Divorce settlements are reached by first examining the total value of the couple’s marital estate. Some assets are easy to value. For example, a bank account is only worth what is in it. Other assets, such as artwork, jewelry, cryptocurrencies, coin collections, luxury furniture, and businesses are far more difficult to value. For items such as these, an expert appraiser is needed. Most often, they will determine what the item would be worth if it were auctioned off or sold. 

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Wheaton divorce lawyersAlthough statistics indicate that the divorce rate is declining across most age groups, couples over the age of 50 are ending their relationships at an unprecedented rate. In fact, rates have more than doubled over the last decade, and it is leaving many soon-to-be retirees at risk for future financial troubles. Learn how you can mitigate against such issues, and discover how assistance from our seasoned divorce lawyers can help. 

Understanding the Potential Effects of a Gray Divorce

Divorce can be costly at any age, but those who are nearing the end of their working years have less time to recover from the financial toll that a divorce can have on their savings and retirement accounts. Marital assets must be equitably split between the parties - and that can include everything from jointly acquired inheritances and co-mingled premarital assets to retirement accounts and businesses that were established during the marriage. 

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Illinois divorce lawyersStudent loan debt is currently at an all-time high in the United States ($1.5 trillion), and it is creating excessive financial stress for married couples all over the country. In fact, a survey of divorced couples revealed that student loans were a factor in one-third of all failed marriages, and a total of 13 percent specifically blamed student loans for the end of their relationship. How are these debts divided when a couple pursues a divorce, and how can a seasoned divorce attorney help protect your financial well-being during the process? The following information explains. 

How Student Loan Debt is Divided in an Illinois Divorce

Debts, like assets, are divided equitably in an Illinois divorce. What this essentially means is that the assets, income, and future earning potential of each party is considered when determining how the debt should be split. The one exception that may apply is if the debt was incurred prior to the start of the marriage; in this instance, it is typically considered pre-marital debt, and the owner of the loan is usually responsible for repaying it on their own. 

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Wheaton divorce lawyersDivorce can significantly impact the mental, emotional, and financial well-being of any child, but those who have special needs’ are at an especially high risk. When one takes into account that an estimated 10 percent of the population has a family member with special needs, and the risk of divorce is significantly higher for them when compared to the general population (an estimated 86 percent compared to 50 percent), the importance of proper divorce planning becomes clear. Learn more about how to approach the process in the following sections, and discover how a seasoned divorce lawyer can help to improve the overall outcome of your case. 

Understanding What Could Be At Stake 

Minor and adult children with significant disabilities often need a lot of support from their families, health care professionals, community, and government. Unfortunately, if their parents go through a divorce and the process is not approached carefully, it may render the child ineligible for many of these types of assistance. As a result, the physical, mental, or financial well-being of the child may be negatively impacted. 

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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
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