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February 2015 Archives

Wealthy spouses may try to hide assets during divorce

The divorce process in Illinois and elsewhere can be stressful for people at all income levels, but those with high net worths may especially be concerned about what they may lose during their divorce proceedings. In almost every divorce case involving high-value assets, one person is usually more prepared than his or her spouse. The better prepared person might even attempt to protect certain assets, as well as mitigate family wealth estimations for his or her benefit.

Divorce process may be made easier with a prenup or postnup

Discussing money matters before getting married can sometimes feel awkward. However, if two individuals in Illinois wait to tackle money issues until they decide to get a divorce, the situation can be more challenging than they may have anticipated. Forming a prenuptial agreement before getting married -- or a postnuptial agreement after saying their vows -- can help the couple to protect their property in case the marriage subsequently ends.

Financial matters can complicate an Illinois divorce

Divorce is life-changing -- whether a person is old or young, poor or rich. The divorce process can be complex, with both emotions and financial challenges complicating a person's transition from marital life to single life. Some tips may help people in Illinois to protect themselves financially when dissolving a marriage.

Couples that divorce can avoid common pitfalls

The start of 2015 can be a fresh beginning for those who have decided to get a divorce in the new year. However, the process can be challenging because of the complexities of splitting marital assets and dealing with the emotions involved in each stage of a divorce proceeding. A few tips may help people to successfully navigate the divorce process and avoid common pitfalls in Illinois.

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