Divorce is an arduous process that can impact many aspects of your life, including your tax liability. Understanding the tax consequences of divorce is essential for Illinois residents so that they can make informed decisions about their financial future. Filing...
Sometimes, divorce is the only option for married couples in Illinois who can't work things out. A divorce can bring about many life-related changes, especially those involving finances. Fortunately, knowing a few tips can help your financial situation remain stable...
Illinois couples going through a high-asset divorce have just as many concerns as those with an average financial situation. Two major issues of concern are property and debt division. This is what to expect while going through a divorce. Property division in divorce...
As a Chicago physician, you may very well belong to a partnership that owns and operates your medical practice. You may have already spent years growing your practice in terms of both number of patients and reputation within the community. To settle your divorce, you...
When a couple in Chicago, or anywhere else, divorces, there are financial consequences for both spouses. One way someone with wealth may try to prevent financial losses in a divorce is through the signing of a prenuptial agreement. A prenuptial agreement is a legal...
It can be hard for Chicago couples to manage their finances and plan for the future during a divorce. In addition to protecting your finances, you want to ensure you have a good understanding of what you may be entitled to. Some people may be tempted to lie about...
Many courts and mediators recommend that couples try counseling before taking the final step toward divorce in Illinois. Although counseling helps many individuals grow in their personal lives, getting the wrong type or incomplete counseling services can harm couples...
A divorce is taxing on all Illinois estranged couples, but things can be even worse if your child blames you. Kids can have just as tough a time with the change in the family situation and lash out for a variety of reasons. These are some things you can do if your...
Dividing major assets during a divorce is always an elaborate process. In Illinois, assets like a health savings account (HSA) are up for negotiation during a divorce. An HSA isn’t like health insurance A health savings account is more like a 401K or Roth IRA than...
In Illinois, depression is a serious mental illness that can lead to a wide variety of problems in a person's life. One of the most common ones is marital strife and ultimately, divorce. It's important to understand how depression can lead to such problems so that you...
