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Tag Archives: divorce settlement

DuPage County divorce attorneysStatistics indicate that the divorce rate has been on the decline for nearly every age group - but for those nearing retirement age, the rate has nearly doubled in the past decade. This phenomenon, dubbed the “grey divorce” wave, is not specific to the United States either; the United Kingdom, Australia, and other developed nations are seeing rising rates of late-life divorces as well. 

Examining the Gray Divorce Trend 

Researchers and analysts say the rate of late-in-life divorce has started to climb over the last decade because many couples in the Baby Boomer generation had either put off or not previously considered divorce. Divorce was more than just socially discouraged back then; it was thought to be inherently bad for children. Of course, we now know that the impact of divorce may vary, based on a variety of factors (i.e. the amount of parental conflict and the level of involvement that each parent has in the life of the child after the divorce, etc.), but parents from the Baby Boomer generation did not have this same information. 

Now, with their children raised, many are realizing that they still have a life to live - and they no longer want to spend it with their spouse. Sadly, the decision to divorce so late in life is creating some unique challenges for this American demographic group. 

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Wheaton divorce lawyersDivorce can have a significant and negative impact on the financial aspects of one’s life, especially if they are financially disadvantaged (a non-earning spouse). Thankfully, these parties are often owed a settlement, which they are permitted to use however they see fit. Perhaps one of the most financially savvy moves is to invest the money, rather than spend it. Learn more in the following sections, including how an experienced divorce attorney can improve the outcome of your Illinois divorce

Investing Can Provide a Lifetime of Income

Disadvantaged parties in a divorce are deemed as such because they lack sufficient income. Some also lack the health, skills, or training to obtain gainful employment right away. Such issues may entitle them to a settlement in their divorce, but it can also place parties at risk for divorce-induced poverty - especially if they fail to plan for the future. Some disadvantaged parties place themselves at even further risk by trying to maintain the same lifestyle that they enjoyed prior to the divorce. Sadly, that can cause them to run through their resources faster than anticipated, and often before a safety net has been created. 

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Illinois divorce lawyersWhile it is possible to take a divorce case to litigation, settlements are often more favorable for all parties if a settlement can be negotiated. Sadly, divorce often involves a lot of deep and painful emotions, and that can cause people to act in ways that are unexpected or out of character. Money and child-related matters can also turn what might have been an amicable situation into a contentious one, especially if one or both parties try to use hard bargaining tactics to get what they want in the divorce. Learn how to reduce the risk of such issues in your case, thereby increasing your chances of obtaining a favorable settlement in an Illinois divorce.

Leave Your Emotions Out of the Process

It can be difficult to separate your emotions from the legal aspects of your divorce, yet doing so is essential if you hope to successfully navigate the negotiation process. That is because you cannot make rational decisions about your assets or other aspects of your case if you are viewing them through an emotional lens and placing a non-monetary value on them. Most divorcing parties find that therapy and other support systems, such as family and friends, are a great way to process the emotions they experience during the divorce process so that they do not affect the proceedings. Self-care can also be helpful in counteracting negative or painful emotions.

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DuPage County family lawyer, divorce cases, attorney feesA recent Illinois Supreme Court opinion shed light on how attorney’s fees are handled in divorce cases, ending a battle that had both spouses in and out of court for 10 years. According to the Chicago Sun Times, the ruling means that a wealthy bankruptcy lawyer must pay his ex-wife $160,000 in attorney’s fees plus $27,500 in monthly spousal support.

In the original 2016 divorce settlement, the court ordered the man to pay a staggering $35,000 per month in alimony; he appealed that amount over the next few years. As the case dragged on, the ex-wife poured thousands of dollars into legal representation to protect her interests. The matter stands for the proposition that the parties’ respective finances are one factor involved with determining who pays attorney’s costs in an Illinois divorce case.

Petition for Attorney’s Fees

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What Johnny Depp’s Divorce Can Teach Us About Divorce SettlementsMany news and celebrity gossip outlets have covered the divorce of actor Johnny Depp and his former wife, actress Amber Heard. The divorce was especially messy because there were accusations of domestic violence from Heard. Because of the notoriety of the couple, details of their marriage and divorce have been made public with both sides giving sometimes contradictory messages. NBC News recently reported that the exes have reached a settlement and the divorce can go through.

Even though most of us do not have the fortune of Depp and Heard to divide up, or the paparazzi and other media reporting on the details of our relationship, there are lessons that all of us can learn from their divorce settlement. This article looks at what regular people can learn about divorce settlements from the divorce of Johnny Depp and Amber Heard.

It is Not Always About the Money

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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
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
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