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Consider the insurance needs of the parties in a divorce

With all of the issues that require resolution when an Illinois marriage ends, it could be easy to miss the need to deal with insurance issues. Car insurance and health insurance are just two types of insurance that require consideration in a divorce. Each party needs to consider the fact that they may go from combined policies to individual policies, which could cost more.

What happens to an inheritance in a divorce?

Either before or during  marriage, many Illinois residents receive inheritances from loved ones who passed away. They might not want to consider what would happen to that windfall during a divorce, but it is something to consider. There may be exceptions to the general rule that assets received as an inheritance are not subject to distribution during the divorce process.

Should you prepare for divorce before getting married?

Broaching the subject of a prenuptial agreement may not be on the to-do list when planning a wedding. Few Illinois residents want to talk about the possibility of getting a divorce while picking out flowers and tasting cakes for the wedding, but perhaps they should. Before bringing up the prospect of a prenup, it might be useful to know its benefits.

Is child support part of your divorce? Here's what to expect

Nearly every parent in Illinois recognizes that a responsibility to financially support one's children, at least until the age of majority. However, when it comes to dealing with the issue of child support, the tension can rise between the parties. Even in an amicable divorce, this issue can be divisive.

Affleck and Garner: The poster couple for amicable divorce?

During their two-year separation, Ben Affleck and Jennifer Garner continued to care for their children as a couple and even took vacations together as a family. Now that they officially filed for divorce, everyone is expecting it to be just as amicable. Couples here in Illinois and elsewhere might consider following their example and avoid a traditional adversarial divorce.

Do you have assets you want to protect in a divorce?

Have you spent your marriage acquiring assets, and now they are in jeopardy because you and your spouse are parting? You and your soon-to-be former spouse could soon be sitting down to determine how to divide those assets. The choices you make as you negotiate your Illinois divorce settlement will affect your financial stability in the years to come.

Could your separate assets be subject to division in a divorce?

When an Illinois married couple is happy and times are good, they often share everything, including assets. You might live by the "what mine is yours and what is yours is mine" philosophy under those conditions, but doing so could jeopardize the division of your assets during a divorce. Your separate assets could end up being considered marital assets if you divorce, depending on how you treat them during your marriage.

What options does an Illinois homeowner have in a divorce?

Many Illinois couples purchase homes during their marriages. If they end up getting a divorce, what happens to the family home often becomes a topic of much debate. It would be prudent to take a realistic and unemotional look at the options before making a decision regarding what to do with that home.

Seeking a Fair Spousal Support Settlement in Your High Net Worth Divorce

Your marriage is ending and you know that divorce is inevitable. As a high asset couple, many people may assume that you'll be just fine financially. However, high net worth divorces are typically far more complex than other dissolutions, and the wrong approach can result in a costly settlement.

Is Your Spouse Hiding Assets or Income During Your Divorce?

Divorcing spouses are often not on the best of terms. And a common contributing factor to their break-up is money. This holds true for couples from all walks of life. But when you are part of a high net worth couple, financial issues are far more complex than with the typical divorcing couple. In high asset divorces, division of property, spousal support, and child support are often great sources of contention. When you have amassed substantial wealth, it's natural to want to hold on to it. Unfortunately, in some cases, this may drive one spouse to act unethically, or even illegally.

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Peoria, IL 61602

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