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Illinois parenting time attorneysWith 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. 

Pursue an Amicable Divorce or Separation

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:

  • Staying in a toxic relationship is highly unlikely to benefit your child. Instead, it is far more likely to do them harm, and
  • An amicable split to your relationship is far less likely to have a negative impact on your child than a toxic one.

Focus on Your Child’s Needs and Best Interests

Parents are only human, and divorce and break-ups are often painful, which can cause emotions to run high. As a result, the parent may struggle to separate their own feelings about the end of the relationship from what the child truly needs - which is often a healthy, connected relationship with both of their parents. 

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DuPage County divorce lawyersDuring 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. 

Dividing Real Estate with a Prenuptial Agreement 

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. 

Dividing Real Estate Without a Prenuptial Agreement 

If the couple does not have a prenuptial agreement in place, the entire marital estate must be valued and equitably divided. Unfortunately, in high asset situations (which most divorces involving real estate are), the asset division process can be extremely complex. As such, it is highly critical that both parties have a seasoned attorney on their side, protecting their interests.

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Wheaton divorce lawyersMoney 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. 

Know the Value of Your Marital Estate

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. 

Examine Your Marital Debts

Divorcing couples are usually aware of just how important it is to take stock of their marital assets, but they often overlook the importance of taking stock of their marital debt. Unfortunately, such an oversight can dramatically impact the outcome of one’s divorce case. In contrast, parties that take stock of their marital debt and create a plan for dealing with it often experience better financial outcomes after their divorce. An attorney does not have to be your only resource for resolving marital debt either; you can also find assistance through an accountant, financial advisor, or credit counselor. 

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Illinois divorce attorneysJust 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. 

1. Keep Your Plans for Divorce Under Wraps

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. 

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Illinois divorce attorneysClaiming 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. 

What Happens When Two Parents Try to Claim a Dependent?

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:

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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
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
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