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....
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Family Law
Do you need a forensic accountant in your divorce?
The World Population Review estimates that Illinois has roughly 6.2 divorces per 1,000 people yearly. That means, in 2022, there were roughly 78,000 divorces. Many of those marriages involved couples who shared a business, which can cause some complications. If you...
When to consider a divorce
You can probably repair your relationship if you fix your issues early enough. However, if it reaches a point where there is too much damage, it may be beyond repair. Here are some signs that it is time for you to consider a divorce. You never argue Arguments are...
Essential experts to seek support from in a divorce
Going through a divorce can be complex and emotionally challenging. Individuals facing a high-asset divorce often require the expertise of various professionals to ensure a fair and equitable resolution. This article explores the key experts individuals should rely on...
What factors can affect property division in a divorce?
Getting a divorce does not mean that spouses must divide all of their property 50-50. In accordance with Illinois’ equitable distribution approach to the division of marital property, courts attempt to distribute assets between spouses fairly. In many cases, an...
How do spouses use crypto to hide assets?
Asset hiding exists alongside divorce and has since divorce itself became legal. These days, many people attempting to hide assets in divorce turn toward cryptocurrencies to do so. But how and why do they do this? Transferring assets to crypto CNBC discusses the use...
How will you and your spouse handle business valuation for your divorce?
One of the challenges of divorce as a business owner is ensuring the proper valuation of your business for the settlement. It can be challenging to assess the value of your own business for a divorce, but some professionals can help. You might need a forensic...
How long does it take to get divorced?
Even if it is the best decision in your situation, divorce leads to stress and difficulty for everyone involved. Understanding how long the process might take helps you prepare. Every situation is unique and many factors can impact your timeline, however, in Illinois,...
What happens when you no longer agree in an uncontested divorce?
When you and your spouse decide to divorce, you may initially want to move forward amicably. An uncontested divorce has several advantages, including lower cost and faster processing time. However, if you begin to disagree with your spouse, you have several options on...
4 challenges of running the farm with your ex after a divorce
If you and your spouse share an agricultural operation and are divorcing, you may have questions about how running your Illinois farm together might work. There are benefits and risks to cooperating on your farm with your ex. Consider these four challenges before...