Free Initial Consultations
630-580-6373With offices in Naperville, Joliet, Wheaton, Plainfield & Chicago
630-580-6373630-580-6373
People do not typically marry with the intention of one day divorcing, but those who have already experienced a failed marriage may be even more adamant to grow old with their new partner. Sadly, the risk of divorce is significantly higher for subsequent marriages. As such, it is highly recommended that parties take proactive steps to protect their assets in a second marriage. Learn more about how a prenuptial agreement can help you do this, and discover how our seasoned family law attorneys can help.
Just as it is critical to know your wealth and assets in a divorce, you should know them going into a marriage. Not only does this give you a base to work from in the event of a divorce, but it also enables you to effectively and proactively protect your wealth, long before a divorce occurs.
If you did not sign a prenuptial agreement before your first marriage, it is likely you know just how messy dividing assets in a divorce can be. When you add in the fact that may divorcees also have children from their previous marriage, perhaps even child support and spousal support obligations, the importance of protecting one’s assets in a second marriage becomes even more crucial. One of the most effective ways to do this is to ensure you have a sound and concise prenuptial agreement before you marry a second time.
Studies have long shown that divorce can impact the academic performance of children, but a new research project provides even more insight into the types of families that are more likely to see such issues after a divorce. Learn more in the following sections, and discover how our seasoned attorneys may be able to help improve the outcome for your children.
The study, which was published in the Proceedings of National Academy of Sciences, examined the families and socioeconomic demographics of 11,512 children and 4,931 children to determine their risk of divorce. Researchers then cross-referenced the data and compared it to the educational outcomes of the children who ultimately experienced a divorce, as well as those who did not. Children from families that had a low risk of divorce saw a greater risk of poor academic performance and an increased risk of not completing their education.
With more parents speaking out about the benefits of 50-50 shared parenting, and more studies indicating their benefits, the popularity of such plans are increasing. Of course, like most things, there are some challenges to drafting such a parenting plan - especially if you are used to being around your child all of the time or have doubts about the other parent’s ability to handle the child. Discover how to overcome such challenges in your parenting time case, and how our seasoned family law attorneys can assist you with the process.
Relationships that end in explosion might make for great fiction, but in real life, these endings have real consequences - especially when there are children involved. Studies have shown that it is not necessarily the end of the relationship that negatively influences children. Instead, they say it is the amount of conflict they experience between their parents on a daily basis. That means two very important things:
During the Great Recession, many savvy investors jumped into the housing market - and a decent percentage of them hit it big. Their success, paired with popular house-flipping television shows, caused many “average” people, who had no real investment experience, to jump into the market as well. What happens to these investors when a divorce occurs? Learn more about how real estate is divided in an Illinois divorce, and discover what our seasoned Wheaton divorce lawyers can do to assist you with the process.
Ideally, investors would have a prenuptial agreement in place before a divorce, as this is the easiest way to ensure a straightforward division of the marital assets. Granted, there are situations in which a prenuptial agreement may not be honored (i.e. a prenuptial agreement signed under duress), but these are fairly rare. Just note that investors are highly encouraged to seek legal assistance when drafting their prenuptial agreements, as this decreases the risk of legal issues in the division of the marital estate.
Money can cause numerous issues in a relationship. In fact, it is one of the biggest reasons that couples argue and divorce. It can also be an especially contentious matter in divorce. Thankfully, there are some steps that you can take to protect your financial future in an Illinois divorce case - and it starts with knowing which financial issues may impact your case. Learn more in the following sections, including how a seasoned divorce lawyer can assist with the process.
Every couple handles their money differently. Some couples share financial knowledge and information. Others have just one party managing marital finances. In either scenario, complications can arise. The biggest risk is hidden money or debts, which is far more common than most people think. In fact, one in five parties admits that they have undisclosed money or debts in their relationship. As such, it is critical that parties obtain the assistance of a seasoned lawyer to ensure they have a clear understanding of their marital finances.
Just as married people do not usually enter into marriage, one day planning to divorce, business owners do not typically start their companies, expecting to one day divide it with their ex-spouse. As a result, there are many business owners who do not have a prenuptial agreement in place to protect their company.
Unfortunately, the lack of pre-planning can put the business and its owner at risk for significant financial loss - perhaps even to the point of closure. Thankfully, with some precautionary measures and the guidance of a seasoned divorce lawyer, business owners can still protect their companies in a divorce. Learn more with help from the following.
If you own a business and are planning to initiate a divorce, hold off on telling your spouse until after you have had the chance to speak with a divorce lawyer. Divulging your plans to your spouse takes away your ability to prepare and plan ahead.
Claiming dependents on your taxes is usually a pretty straightforward process, but if your family has recently been through a divorce, things can be a little more complex. Given the significant impact that dependents can have on one’s tax status, it probably comes as no surprise that the matter can cause a great deal of strife between recently divorced parents.
Normally, a divorce decree dictates who claims the dependents on their taxes, but disagreements and discrepancies can and do sometimes occur. There are also situations in which one parent may attempt to deprive the other of their right to claim the dependents on their taxes. Learn what can happen in these scenarios, and discover how our seasoned DuPage County divorce lawyers can help to clear up confusing matters involving your divorce.
If a divorce decree dictates who is supposed to claim the children, and both parents attempt to claim them, the matter is usually resolved by supplying the Internal Revenue Service (IRS) with proper documentation. However, if a decree does not exist, then the IRS has a series of tie-breaker rules that they use to determine who gets the credit. In order, these rules are:
Loving parents will do almost anything to ensure their children feel happy and safe. Sadly, not even the best efforts can save some marriages - and when a child’s parents go through a divorce, they are bound to be impacted. Thankfully, there are many strategies that a parent can employ to minimize the negative effects of a divorce. Next to pursuing an amicable separation, validating the child’s feelings is one of the most effective and critical.
Everyone experiences feelings of anger, sadness, and grief; children are no exception. However, children do not always know how to verbalize their feelings. Because of this, their feelings may come out in the form of negative or undesirable behaviors. Examples can include meltdowns or temper tantrums, separation anxiety, withdrawal from family and friends, poor academic performance, and extreme sensitivity.
Validation may not remedy all of these issues, but it can certainly go a long way to helping a child heal during and after a divorce. It allows them to feel as though they have a voice, and that their feelings are important. That can be critical for a child who feels like every decision is out of their control. Even better is when a parent can help their child identify their feelings and learn how to put them into words.
A divorce significantly impacts your relationship, but it will equally affect your financial status. Before delving into the dissolution of marriage, get your finances in order. While it is wise and efficient to do this together, it is not always possible. Regardless, it is essential that your financial status is preserved.
First, it is imperative that you understand the difference between an uncontested and contested divorce.
You probably have a good idea of whether your divorce will be uncontested or contested. Now that you understand contested and uncontested divorce, you can start compiling documents and get your finances in order through the following steps.
Going through a divorce will likely have a profound impact on nearly every aspect of your life. This is especially true when it comes to your finances. For most people, a divorce is not only going to take two combined incomes and split them up, but it will also change what financial responsibilities you have.
You may, for example, have to start paying child support or spousal support, which will obviously have to be added into your monthly budget. Even if you are receiving child support or spousal support payments, however, you will need to use that money to cover many new expenses caused by the divorce. The following four tips can help you to put yourself in as strong of a position as possible after your divorce is finalized.
Living on a budget is always important, but during and just after a divorce, it is more critical than ever. Do everything you can to minimize your expenses now, and live well under your means. Once the divorce is finalized and you are able to accurately see all your new income and expenses, you can start transitioning into your ‘new normal’ for money. It is much easier to have a little extra money in your budget after a divorce than it would be to be short each month.
2224 W. Ferry Road, Unit 113, | |
1776 S. Naperville Road, Building A, Suite 105, | |
321 N. Clark Street, Suite 900, | |
58 N. Chicago Street, Suite 102, | |
2407 West Lockport Street, Suite 201-H, |
The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.
I have read and understand the Disclaimer and Privacy Policy.
