When couples start their married life in Illinois, they often make joint financial plans. Planning together can help couples avoid conflicts, but if the marriage ends, these joint plans can cause complications. If your relationship is headed for divorce, you will be...
Getting a divorce in Illinois is sometimes the only option for unhappy married couples. Certain working adults, especially those in the medical field, sometimes have higher divorce rates than other professions. If you're a physician going through a divorce or you feel...
Going through a divorce in Illinois is rarely a stress-free experience. Often, much of someone's divorce-related stress involves assets. Understandably, most people don't want to lose significant assets to their former spouses. Some divorcing individuals have asset...
If you think that your marriage is coming to an end, there are steps that you can take in an effort to preserve your assets. It may also be wise to think about preserving assets such as a car or Illinois home before getting married or before you or your spouse begin...
One of the more contentious aspects of divorce is the division of assets. Establishing protections for your property before a divorce occurs is preferable, and one way to do this is through a domestic asset protection trust. While Illinois does not allow them, you...
Many people are familiar with prenups. However, they might not be as familiar with postnuptial agreements, which serve a similar purpose but are signed after the wedding. This type of agreement might be something you and your spouse in Illinois are considering if you...
Divorce can be a traumatic event for the emotional health of both parties But it can also be debilitating for a couple's finances. Both spouses often have to pay thousands of dollars in a process that could take months or years. Illinois business owners and other...
Going through a divorce in Illinois is often challenging for formerly married adults. One difficult aspect of divorcing involves your assets. Fortunately, a trust can sometimes offer the asset protection you seek. Placing your assets in a trust One potential way of...
Amid a divorce's emotional turmoil, it's essential to consider pre-divorce asset protection strategies to safeguard your financial well-being. Proactive steps you take before divorce proceedings can help ensure a fair asset distribution in Illinois while minimizing...
The formula used to determine how much noncustodial parents in Chicago and around Illinois should pay to support their children changed in 2017 when the state adopted the income share model. Before 2017, only the noncustodial parent’s income was considered when child...
