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...
High-Asset Divorce
Medical practice valuation often most complex part of 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...
What are the benefits of a prenuptial agreement?
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...
Lying about income in an Illinois divorce
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...
How bad counseling can harm the divorce process
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...
What should you do if your child blames you for the divorce?
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...
How to handle an HSA during a divorce
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...
Understanding the connection between depression and divorce
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...
Can divorce affect Social Security benefits?
No matter what you plan for retirement, major life events can occur unexpectedly and change your plans. One of the most common unexpected life changes is divorce. New Jersey residents counting on Social Security benefits for their retirement may suddenly find...
Tips for a high asset divorce
A major concern for Illinois residents who have acquired many assets is how to protect them when their marriage comes to an end. While finances are a concern in most divorces, in a high asset divorce the stakes can be significantly greater. Planning for the future is...