Posted on June 04,2021 in Illinois Divorce

Business assets of any kind can complicate the divorce process, but professional practices present a set of challenges all their own. When a doctor, lawyer, therapist, or any other licensed professional owns their own practice, the business’s success is closely tied to the owner’s efforts. The owner typically relies on the business as their primary livelihood. This can make fairly valuing and dividing the practice during divorce quite difficult. If you or your spouse operates a professional practice, you should be aware of what to expect during the divorce process.

Is the Practice Marital Property?

You might assume that a professional practice belongs only to the spouse who founded it, but in reality, this depends in large part on when the practice was established. If it was already in existence before the marriage began, it will most likely be excluded from the marital estate. However, if the practice was established during the marriage, it will most likely be considered marital property for which both spouses could have a claim during the divorce process.

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 Posted on May 25,2021 in Illinois Divorce

Divorce can be hard on a couple no matter their income level. In fact, a couple with a high net worth can face some of the most difficult complications when it comes to the financial aspects of divorce like the division of assets and spousal maintenance. If you are ending a marriage in which one spouse was the primary earner, there is a good chance that spousal support will be a factor in your divorce resolution. It is important to understand how this issue is handled in Illinois family court, as well as the options you may have for reaching an agreement.

Spousal Maintenance Decisions in an Illinois Divorce

There are a number of situations in which spousal maintenance may be necessary to ensure a fair resolution to a high-asset divorce. One common example is a situation in which one spouse did not work but instead relied entirely on the other spouse’s income and assets. In a case such as this, a high-earning spouse may want to retain full ownership of high-value businesses and real estate properties, which can lead to an even greater financial disparity. Spousal maintenance may be the best option to ensure that the other spouse can support themself after the divorce.

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 Posted on May 18,2021 in Paternity

In Illinois, there are several different methods through which a man can be legally recognized as a child’s father. For example, when a child’s parents are married at the time of his or her birth, the man is presumed to be the father without any need for further confirmation or legal action. Unmarried parents can also establish parentage through a Voluntary Acknowledgment of Paternity (VAP), which keeps the court’s involvement to a minimum. However, there are cases in which it is important to confirm that a man is, in fact, a child’s biological father, and DNA tests are often used for this purpose.

Genetic Testing for Paternity in Illinois

Genetic testing adds another cost to paternity proceedings, and it also takes time for the results to come back, which can delay the resolution. If you are confident in your child’s parentage, and you and the other parent are in agreement, it may be best to forgo a DNA test. However, genetic testing may be the best approach in any of the following situations:

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 Posted on May 11,2021 in Illinois Divorce

Getting a divorce is often an important step to help you leave an unhealthy situation, and the terms of your divorce resolution can provide you with financial and personal protections. However, reaching a resolution may take time, in some cases several months or more, and you may find that the relief you need is not coming fast enough. Fortunately, Illinois law offers several forms of temporary relief that you can pursue before your divorce is final. To decide whether temporary relief is right for you, you should consider the following questions.

Are You Struggling to Provide for Yourself and Your Children?

If you have a limited income and assets, and your spouse will not willingly assist you with expenses, you may have a case for temporary child support and/or spousal maintenance during the divorce process. When you petition for temporary support, you will need to submit a financial affidavit detailing your current financial situation. You should also keep in mind that a temporary support order is not a replacement for terms regarding child support and maintenance in your final divorce resolution.

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 Posted on May 06,2021 in Illinois Divorce

Earlier this week, Bill and Melinda Gates, widely known for their work at Microsoft and the Bill and Melinda Gates Foundation, announced that they were ending their marriage. This marks the second divorce of one of the world’s most wealthy individuals in recent years after Amazon CEO Jeff Bezos and philanthropist MacKenzie Scott ended their marriage in 2019. Very few divorces will match the Gates divorce in terms of the assets to be addressed, but other high-asset couples considering divorce may be able to learn something from the Gates’s situation.

Preparing for a High-Asset Divorce in Illinois

Though the Gates divorce is being resolved in the State of Washington, some of the issues at hand offer possible lessons for divorcing couples with significant assets in Illinois. For example:

• Property division can be resolved through an agreement between spouses. When filing for divorce, the Gateses noted that they have reached a separation agreement regarding their property and assets. In a high-asset divorce in Illinois, it may be possible to reach a similar resolution with your spouse, rather than leaving the division of assets in the hands of the court. However, it is usually a good idea to consult with financial experts who can help you understand the full implications of your decisions.

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 Posted on April 30,2021 in Illinois Divorce

When a couple is going through a divorce, they are both required to provide the other with details of their individual finances. Each party is required to fill out a financial affidavit – under the penalty of perjury – that is also filed with the court.

It is not uncommon in these situations for one or both spouses to be resentful about sharing this information with the other spouse and may decide not to disclose all of their assets. However, if a person is caught hiding assets in a divorce, the penalties could be far more costly than if they had just told the truth.

Financial Cheating

While you may think that most married couples share everything about their finances with each other, the reality is that there are many spouses who may not be entirely truthful with their partner about money. In fact, one major study that was conducted a few years ago, showed one in three people admitted to lying to their spouse about money, whether it was outright lying or hiding money, or “coloring” the truth a little bit.

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 Posted on April 23,2021 in Uncategorized

While there is usually no question regarding the identity of a child’s mother, the same is not always true of the father. Whether the biological father is unknown at the time of pregnancy, or the father shows up years later, a mother may wish to have a DNA test performed to legally determine who the father of her child is. Genetic paternity testing of a man’s DNA and the child’s DNA can reveal if the two are father and child.

Paternity Testing

Half of a child’s DNA comes from their mother, and half comes from the father. A DNA test can reveal whether the father in question is truly the father or not. The process begins with a cheek swab from the inside of the alleged father’s mouth, as well as the child’s mouth. The DNA fingerprint of each is then profiled, with an accuracy of 99.99 percent. A paternity test can also be done while the mother is still pregnant with the child through blood analysis or more invasive measures by sampling the placental tissue.

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 Posted on April 16,2021 in Child Custody & Allocation of Parental Responsibility

Not all divorces and separations are amicable and they do not always result in the desired outcome. In fact, when children are involved, few do. The allocation of parental responsibilities and parenting time (previously referred to as child custody and visitation) is a contentious and emotional issue, as the court’s decision will affect the child and both parents for years to come.   Co-parenting requires a couple to find some grounds for cooperation and mutual understanding when, in reality, neither of those two factors was strong enough in the relationship to make it last in the first place. So how do you deal with it now? 

For some parents, the task of entrusting their child to a partner they do not believe is fit to be a guardian is too much to bear, and they may wonder if they can simply refuse to allow parenting time to continue. If you are heading down this path or need legal counsel to re-address custody or visitation rights, contact the family law attorneys at our office as soon as possible, we can help guide you in the right direction.

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 Posted on April 09,2021 in Child Support

It is no surprise that a person’s financial health is often subject to ups and downs, depending on what is going on in society and what is going on in their own personal life. The current COVID-19 pandemic is a perfect example of how significant our finances can be impacted due to circumstances beyond our control. It is situations such as this, where a parent may seek modifications to an existing child support order. Under Illinois law, there are unforeseen circumstances that arise and these can bring forth a need to modify the court-ordered child support that is in place.

When Is an Appropriate Time to Ask for a Child Support Modification?

Under current Illinois law, child support may be reviewed for modification every three years or if there has been a significant change in either the child’s needs or in one of the parent’s income. Child support cannot be retroactively changed, so if you think your child support orders need to be modified, it is in your best interest to act sooner versus later. Other reasons to consider a child support modification is if either parent has: 

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 Posted on March 30,2021 in Child Custody & Allocation of Parental Responsibility

One of the greatest challenges that parents face during divorce and child custody battle is keeping their feelings under control and not discussing their feelings about the other parent in front of their children. Children are smarter and more intuitive than we often give them credit for. Even a young toddler still learning to speak can sense the hostility that is being directed toward a parent when the other is talking about them behind their back. Multiple studies have shown that alienating a parent has life-long implications for children, with the potential to cause low self-esteem, self-hatred, depression, substance abuse, lack of trust, and more. The following are a few tips to follow if you are involved in a child custody battle. For more details that may apply to your particular situation, an experienced family attorney can assist you.

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