When parents decide to part ways, the custody battle is not just about children. It can significantly impact the family business and the financial support available for the child. One central aspect in these proceedings is determining which parent will retain...
Finding A New Path Forward
Family Law
What matters must a couple finalize in a divorce?
When a couple decides to part ways, there are critical matters that need careful consideration and finalization to ensure a smooth transition into separate lives. Divorce laws specify certain details a couple must address before legally ending their marriage....
4 reasons to consider mediation for a high-asset divorce
Divorce is never an easy process, especially when significant assets are at stake. In Illinois, opting for mediation during a high-asset divorce can offer various advantages, making the challenging journey a bit smoother for both parties involved. 1. Timely resolution...
Will you have to liquidate the business in your divorce?
Divorce can be a challenging and complex process at every stage. The division of valuable assets, especially a shared business, can be particularly overwhelming. If you and your spouse are parting ways, one pressing question may be whether you need to liquidate the...
How to protect your retirement assets in a divorce
Divorce is a challenging and emotional process, and one of the most significant concerns that often arises during this time is the division of assets, including your retirement funds. Protecting your retirement assets in a divorce helps ensure your financial...
How to protect your business during a divorce
If you own a business in Illinois and are going through a divorce, you need to understand how the process can impact your enterprise. Divorce can have significant repercussions on your business, particularly regarding the division of marital property. The hard work...
Tax planning in a high-asset divorce
CNBC reported that maintaining a more expensive lifestyle could lead to divorce as it can often spark financial arguments, and a survey found 35% of people said finances were the main trigger for their divorce. Money is a complicated topic no matter how much of it you...
4 tips for navigating high-asset divorce in Illinois
As of 2021, the Centers for Disease Control and Prevention reports the divorce rate is 2.5 per 1,000 population in the United States. It can happen to anyone. Divorce can be a complex and challenging process, especially when a couple has significant assets. When a...
3 options for what to do with the farm in your divorce
For many divorcing couples, the family home is the single most expensive and important asset they must deal with. If you are a farmer, this can get even more complicated. Not only must you figure out a way to divide the house, but acres of farmland too. A farm has...
4 property division pitfalls to avoid in your divorce
The process of divorce is often complex, particularly when it involves dividing marital property. In Illinois, this process follows the principle of "equitable distribution," which means that the court should divide marital assets fairly, but not necessarily equally....