Most people do not try to hide assets during a divorce, knowing that doing so can get them into a difficult legal position. If the court orders them to fully disclose the assets that they own and they intentionally leave things out or try to manipulate the numbers,...
One of the most pertinent parts of the divorce process is the division of assets. In Illinois, the family court divides marital assets based on the equitable distribution doctrine. This means that marital assets will be divided in a way that seems fair to all...
Secrets often come to light during the divorce process. Sometimes those are financial secrets – big ones. You have a right to a fair property settlement in your divorce, but you can’t get that if your spouse isn’t being completely honest and transparent about...
In an Illinois divorce, spouses need to split their property or ask a judge to divide their assets. The equitable distribution rule that applies in litigated divorces requires that a judge split your property and debts in a fair manner based on your current...
Divorce is far more than the end of a marriage. It can impact your financial well-being for the rest of your life. Yet you’re required to make crucial financial decisions at a time when you may be consumed by myriad emotions that too often lead people to do things...
Many couples own both marital assets and separate assets. These are assets that they own together and those that they own individually. It’s important to know which camp they fall into when getting divorced. Now, these assets are not always categorized the way people...
A family business can be a great source of income for the household, but it is an asset that could potentially cause issues if the husband and wife decide to end the marriage. This is more common when one spouse handles the financial aspects of the company. Sometimes...
Splitting up with one's spouse can have a drastic effect on one's emotions along with one's finances. It is natural for a person in Illinois to want to get the divorce process over and done with as soon as possible. However, rushing through the process can be costly...
Individuals going through marital dissolution in Illinois may naturally focus on how they will divide monetary assets and address the family home. However, one question that many people never consider before getting a divorce is what will happen to college savings...
Although people in Illinois decide to get divorced all times of the year, August appears to be the most popular month for dissolving a marriage. The next most popular month for divorce filings is March. These two months are considered peak months for ending a marriage...
