Effectively Navigating Your Divorce

Many people who are considering divorce are concerned about what will happen to them financially. As a divorce lawyer with more than 30 years of family law experience in Wheaton and the western Chicago suburbs, I can let you know how much support you can expect to receive or be obligated to pay and how your assets and debts will likely be divided.

Can I afford to get divorced? Will my lifestyle change dramatically? Talk to me, Terry Fawell, by calling me at 630-480-6253 for a free consultation.

Aggressive legal representation can increase the cost of your divorce by creating conflict where it never existed. As your lawyer, my style and approach minimizes conflict while protecting your financial interests and your relationship with your children.

I seek the best possible outcomes for my clients. This means I will advocate for a fair and enduring marital settlement agreement that protects you, your rights, your future, your finances and your children. As your attorney, I can also advise you on how to avoid the most common divorce mistakes.

The Financial Impact Of Divorce

I handle the following matters in contested and uncontested divorce:

  • Property division: Marital property will be divided equitably. However, this doesn't necessarily mean 50-50. In long-term marriages, the court will try to equalize income and assets, including retirement accounts and pensions.
  • Parenting issues: If you have children, the parent who has the children the majority of the time will pay 20 percent of his or her net income in support for one child. This support can be modified after the divorce if the financial circumstances of either side change. These are only two of the parenting issues you must address.
  • Spousal support: In long-term marriages where one party is financially dependent on the other, the court may order alimony (known as maintenance) during the divorce and after. In 2015, Illinois adopted a new maintenance statute in an effort to establish consistency in maintenance awards. The formula provides for a deduction of 20 percent of the payee's gross annual income from 30 percent of the payer's gross annual income to arrive at the yearly maintenance award. It applies to combined gross household incomes under $250,000.

Send Me An Email Or Call Me Today

For a free initial consultation about your divorce case, email Fawell & Fawell, Ltd., or call 630-480-6253 today.