Finding A New Path Forward
Divorce can be challenging in many ways. It can be a blow to your emotional health, as well as your finances and your sense of community. Because of this, it can be a big step to take. Knowing how to prepare can make a significant difference in your outcomes. Take...
Farm valuation can be an important factor in divorce proceedings, especially in an equitable distribution states like Illinois. The farm must be properly valued before making decisions; however, accurate farm valuation can be difficult to achieve. Here are only three...
Across the board, many sources and studies tout co-parenting as one of the best ways to raise children of divorce. Unfortunately, though, not all co-parents will have the opportunity to stay within close proximity of one another for the duration of their kid's...
When you and your spouse have dedicated a lot of time and money to a family business, it is challenging to decide what happens to it in a divorce. The two of you must agree on which of the following three options works best for you. Both of you keep the business Even...
Illinois follows a system of equitable division in divorce cases. This means that, rather than split belongings equally in half, a court will decide how assets should get distributed in a way that is fair to both parties. How this affects your assets will largely...
Many married couples have life insurance policies naming their spouse as the primary beneficiary. Divorce impacts these policies, and the courts may dictate the changes. Term life insurance Policies that cover an individual for a set amount of time and pay a flat rate...
Marriages, where one or both spouses come into the union with considerable assets, may involve prenuptial agreements to protect the said property in case of divorce. Considering the fact that, according to the American Psychological Association, first-time marriages...
Child support might deviate from the standard process in high-asset divorces. Since 2018, Illinois utilizes the Income Shares child support model. However, courts do have the ability to change the payment under exceptional circumstances such as high-value divorce. If...
If you are like many Americans facing divorce, you may have deep concerns about how your separation will impact your future financial and emotional health, especially if you share children. You may worry that the divorce process itself will be financially and...
Perhaps the most complex part of any divorce is dividing up the assets that you have accumulated over the marriage. When there are high-value investments and property involved, this process becomes much more complicated. Make sure you take into account these...