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DuPage County divorce lawyersRecently, the Internal Revenue Service (IRS) announced that they intend to probe the private UBS accounts of 4,000 taxpayers. While one can only speculate how many of them are currently engrossed in a divorce, odds are, a healthy number of them could be trying to hide money from both the government and their spouse. 

Those who are discovered stand to lose a lot. 

In addition to the possibility of federal tax evasion charges and a loss or depreciation of their assets to cover back taxes, dishonest parties may lose a significant portion of their divorce settlement, as judges often penalize them by giving the disadvantaged party an additional award. Unfortunately, only a small percentage of divorcing parties may be probed by the IRS this year. 

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Wheaton divorce attorneysWhile few couples blame money for their divorce, studies show money troubles can significantly increase a couple’s risk of divorce. In fact, arguments about money were found to be the top predictor of divorce in one from Utah State University. Researchers also determined that frequent fighting increased a couple’s overall odds of divorce by 30 percent. 

Of course, not all debt is acquired during the marriage. 

In a Fidelity, Couples & Money study, almost half of all the couples surveyed indicated they had entered into their marriage with debt. Around 40 percent of them said that it had a negative effect on their marriage, and 49 percent said they disagreed about who was responsible for those debts. 

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Illinois divorce lawyersDivorce can be a costly endeavor - especially for those in complex situations. There are ways to reduce the costs associated with an Illinois divorce, but be wary of the option you choose. Online divorce services, often used by divorcing parties who wish to cut costs and simplify the process, can actually cause more harm than good. Learn more about the risks of using an online divorce service, and discover how our seasoned divorce lawyers can improve the outcome in your case. 

Online Divorce Services - Not So Simple 

When performing an internet search for divorce services, parties are likely to come up with a wide array of options. Online services, where legal paperwork is completed and then returned to the paying client to file, are usually toward the top. They claim to offer a “simple” but “affordable” way to complete a divorce. For many, the price seems too good to pass up. 

Sadly, there are many who have pursued such options, only to find themselves in the midst of chaos. That “simple” service turns out to be frustrating, confusing, and in some cases, a complete scam. As an example, consider the recent news coverage of an online divorce service that took money from clients, promising to provide completed paperwork. Some never received their completed paperwork at all. Others say the documents were riddled with errors - to the point that they simply could not use them to file for their divorce. 

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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. 

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DuPage County divorce attorneysThe decision to divorce is a highly personal one - and far from simple. There might be years of happy memories that are difficult to let go of, despite how difficult things have been lately. Perhaps there are children involved, and like most parents, you are worried about how a divorce might affect them. Add in any number of the other possible variables that occur in a divorce (domestic abuse, financial disadvantages, disability, etc.), and divorce may no longer seem like an option. For others, staying in an unhappy or toxic situation might begin to seem preferable to the complex and often lengthy process of a divorce. 

Thankfully, neither scenario needs to occur, as there are options for even the most difficult situations. Of course, before one can actively seek out solutions for their situation, they must first come to terms with it. Look for these five signs in your marriage. If you have noticed any of them, it may be time to decide if divorce could be the next best step in your life. 

1. Your Partner Refuses to Seek Treatment

Relationships of all types can fail, but those that involve addiction, abuse, mental health issues, or severe illness tend to have a much higher rate of failure. Sadly, if your spouse refuses to seek treatment for any of these issues, your risk of divorce increases even further. The reasoning for this is simple: one can only live inside a toxic situation for so long. Either you leave the relationship or things or accept that things may get worse - possibly to the point of implosion. 

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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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