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Tag Archives: DuPage County divorce lawyers

Wheaton divorce attorneysWhen it comes to money, some spouses will stop at nothing to keep more than their fair share in a divorce. Offshore accounts, cryptocurrencies, and foreign real estate are just some of the tools that sneaky spouses use to hide money.

Sadly, only so much can be done to track down the missing money in a divorce - and even a skilled team of professionals have their limits. The money does sometimes surface after the divorce has been finalized, however. Learn what options you may have in such a situation in the following sections, and discover what our seasoned divorce lawyers can do to assist you. 

Following the Money Trail - When Clues Resurface After the Divorce is Finalized 

Most deceptive spouses think only about the immediate situation; rarely do they consider what might happen if you discover the hidden assets once the divorce has been finalized. As such, they may begin to relax their spending habits once the proceedings are over, giving you the evidence you need to reopen your divorce case.

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Wheaton divorce attorneysAccording to the U.S. Census Bureau, approximately 20 percent of all businesses in the United States are now owned by women. While the 2.8 percent increase from the previous year might be considered a win for gender equality, female business owners still face serious risks if their marriage ends in a divorce. Learn how to protect your enterprise during an Illinois divorce in the following sections, and discover how a seasoned divorce lawyer can assist you with the process. 

Divorce Risks Often Higher for Female Business Owners

While any business-owning party can be at risk for extreme financial loss during a divorce, the overall risk for female entrepreneurs is significantly higher. Part of this could be because men are more likely to protect their companies, as they have been advised to do so for decades, but other factors play into this increased risk as well. For example, women are more likely to be the victims of domestic and financial abuse. They may also be less likely to envision their company as successful (until it actually is). Women are also less likely to initiate a prenuptial agreement, even when they have a substantial amount of wealth before their marriage. 

Protecting Your Business During an Illinois Divorce 

Ideally, female business owners would take proactive steps to protect their businesses, long before divorce ever becomes an issue (usually with a prenuptial or postnuptial agreement). Unfortunately, such agreements are no longer an option once the proceedings start. Instead, female entrepreneurs must then rely on other measures to protect their business, such as:

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Illinois divorce lawyersDivorce can be financially devastating for women - especially if they are over the age of 50. Some say women can avoid such a catastrophe by fighting for their home during their divorce. Unfortunately, this may not be sound advice for everyone. Learn how you can determine which path might be most appropriate for your case and discover how a seasoned divorce lawyer can help protect your financial future during an Illinois divorce. 

Fighting for the Family Home - Understanding the Logic 

Women are often attached to the family home, and some say it is the key to protecting their financial future during a divorce. A study from the Center for Retirement Research at Boston College only seems to confirm that this is the best route for women. In its survey of formerly married women, it found that, in terms of assets, those who kept the house were “better off” than single, never-married women. Yet, it is important to note that the study did not examine the overall wealth of these women. Instead, it just looked at the assets they were holding at the time of the survey. 

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Wheaton divorce lawyersA college degree is almost critical to career success in today’s working world, and as the United States continues to move further away from manufacturing and more into a service-type economy, that need for higher education is expected to grow even further. Unfortunately, a recent study has found that children of divorce may be less likely to obtain this education. Learn more about why this might be, and discover how a seasoned divorce lawyer can help to improve the circumstances for your child during an Illinois divorce. 

Study Finds Children of Divorce Are Less Likely to Pursue a College Degree 

Most studies regarding divorce and children focus on the tender years - the way that a parental separation impacts the child’s immediate circumstances. Data from these suggest that children of divorce tend to have lower reading and math scores, are less engaged at school, and they tend to participate in fewer after-school activities than children whose parents stay married. Yet, until now, no one really knew how this translated into the lives of adult children of divorce.  

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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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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, 7th Floor,
Joliet, IL 60432
Phone(815) 582-4901
Fax(888) 350-9195
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