Thumbs Up Thumbs Down
Share Your Experience
X

Tag Archives: Asset Protection

Naperville family law attorneysPrenuptial agreements often carry a negative connotation. Yet, when one examines the details of some of the nation’s biggest divorces, the importance of a prenup becomes clear. Millennials are starting to change the way that we see them (they are signing these documents at an unprecedented rate), but maybe more can be done to help people see them for the useful tool that they are. One financial expert recently suggested that couples use it as a financial planning tool. 

Step One: Consider Your Current Situation and Future Goals 

If you are considering a prenuptial agreement, chances are, you already know you will one day be successful in business or money. Perhaps you have a knack for sales and have just made stockbroker. Maybe you see just how hard your spouse is working in medical school, and you are certain that they will be a successful physician. In either case, you envision a future that involves at least some measure of wealth. 

Rather than simply let that vision go to waste, use it to create a vibrant picture of your financial future. Set goals and milestones for achieving certain tasks, such as paying off your student loan debt or purchasing your first commercial property. Now take it one step further and consider how you want to spend your money, day-to-day. Would you rather invest? Are you interested in procuring certain assets? Do you want to donate a certain percentage of your earnings to a charity each year or quarter? In short, attempt to consider every element of your future wealth and then use it as a framework to prepare for the next steps. 

Continue reading

DuPage County divorce lawyersWhile some divorcing couples are able to reach an amicable agreement on the division of their assets and debts, others struggle with reaching a compromise on even the smallest of details. These cases, which are often referred to as “contentious divorces,” can cost couples a great deal of both time and money. Learn how you can protect your assets in such a divorce, and discover what our seasoned Illinois divorce attorneys can do to improve the outcome in your case. 

Is Your Divorce at Risk for Contentious Proceedings? 

Perhaps the best way to protect one’s self in a contentious divorce is to determine, as soon as possible, if negotiations may turn hostile. First, consider your wealth class.

Marriages with an exceptionally high net worth (typically over $5 million dollars) tend to end with little fighting, as parties recognize that peaceful negotiations are one of the most effective ways to protect their wealth. Of course, parties may still become greedy during the proceedings, or they may feel the need to be vindictive toward their former spouse. As a result, individuals may attempt to either hide or spend (dissipate) assets in order to keep them away from their spouse.

Continue reading

Five Reasons Regular People May Want A Prenuptial Agreement, DuPage County prenuptial agreement attorneysSometimes the news will report on celebrities who are getting married and speculate on their prenuptial agreements. Premarital – or prenuptial – agreements may seem like something that only wealthy people need to worry about, but in reality prenuptial agreements are an important legal tool all individuals can take advantage of. Indeed, there are numerous reasons that many couples may wish to craft a prenuptial agreement before getting married, regardless of their wealth.

Communication

Coming together to draft and sign a prenuptial agreement is a way to make sure that you are starting the marriage on the same financial foot together. Prenuptial agreements force couples to communicate about money, which can be one of the most contentious parts of a relationship.

Continue reading
Abraham Lincoln A lawyer’s time and advice are his stock and trade. -Abraham Lincoln
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
Phone630-580-6373
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, Suite 102,
Joliet, IL 60432
Phone(815) 582-4901
Fax(888) 350-9195
Contact us