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Financial Mistakes to Avoid During an Illinois Divorce

 Posted on July 12, 2019 in Divorce

Schaumburg divorce lawyer financial issues

It is no secret that getting a divorce is expensive. Not only can you lose money in the process, but the time and energy required can also take a toll. A divorce can compromise your finances, so it is important to be smart about money during this time.

During divorce, marital property is divided between spouses, and this property includes all assets and debts acquired during the marriage. When property is divided between divorcing spouses in Illinois, this division should be done in a fair way. This is referred to as equitable distribution. However, each spouse's share of the assets is rarely equal, as decisions about the division of assets are based on many factors, such as the length of the marriage and the couple's standard of living. 

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What Factors Are Considered When Dividing Property During Divorce?

 Posted on July 02, 2019 in Divorce

Arlington Heights marital property division lawyer

When a married couple gets divorced, they must split up the life they created together. When it comes to dividing property, there are many factors that determine who gets what during a divorce. However, each spouse is entitled to receive a fair portion of the marital assets. During divorce, it is best to seek legal counsel in order to understand your rights and the best approach to take as you determine how to divide your marital property. 

Equitable Distribution 

In the state of Illinois, marital property is divided using a system of equitable distribution. While this term may lead one to believe that property is divided equally, this is not necessarily true in every case, and property will be divided based on what is fair for both spouses. There is rarely a 50/50 split of property during a divorce. What is determined to be fair by the courts is based on a variety of factors, including: 

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How Can I Help My Adult Child Cope With My Illinois Divorce?

 Posted on June 25, 2019 in Divorce

Palatine divorce lawyer adult children

When a married couple decides to get a divorce, a child under the age of 18 is directly affected. In Illinois, the parental responsibilities for a child are allocated between parents during divorce. The living situation of a young child may change as well, since parenting time is also split between each parent. However, once a child becomes an adult and has moved out of the house, the parents' divorce may not change his or her day-to-day life, but it can still have a significant emotional impact. It is important for parents to communicate with their adult child throughout their divorce proceedings, and this can help all family members make as smooth a transition as possible. 

Tips for a Positive Relationship With Your Adult Child

Parents may assume that an adult child will be unaffected by divorce. In fact, a child of any age who is watching his or her parents get divorced is still likely to face a variety of challenges. When living away from home, a divorce may come as a shock, and a child may struggle to adjust to the changes. Although an adult child can, in theory, process the trauma of divorce better than a young child, he or she may not want to deal with the emotional baggage, and this can cause relationships between parents and children to suffer.

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What Financial Support Can I Receive as a Stay-at-Home Parent After an Illinois Divorce?

 Posted on June 18, 2019 in Divorce

Barrington divorce lawyer for stay-at-home parents

These days, it is more common for both parents in a household to hold a career while raising children together. However, having one parent stay at home to raise children is still a popular option for many families. This choice may be the personal preference of the homemaker, or a couple may find this option to be more financially feasible. Either way, for a stay-at-home parent, getting a divorce can be a difficult and nerve-wracking situation.

If you are a stay-at-home parent, you are likely the primary caregiver for your children. Although you may have had a career or job at one time, being a full-time stay-at-home parent has taken you out of the workplace. It may be necessary to go back to work after a divorce to support yourself and your children, but several post-divorce financial solutions may assist you with getting back on your feet financially.

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What Are the Benefits of Establishing Paternity in Illinois?

 Posted on June 11, 2019 in Family Law

Schaumburg paternity lawyer

When a baby is born, the biological mother is already established, but unless the mother is married, the child's father is not presumed to be a legal parent. Paternity is the legal relationship between a father and a child. In cases where paternity needs to be established, doing so benefits the child in many ways. For example, it can foster a positive relationship between the father and child. In addition, the child is entitled to receive certain benefits, such as child support and health or life insurance based on the father’s employment.   

Voluntary Acknowledgment of Paternity and DNA Tests

Under Illinois law, if two people are not married or in a civil union, then a form can be signed to identify the father of a child. This is called Voluntary Acknowledgment of Paternity (VAP), and it will ensure that a father can be listed on the child’s birth certificate. The form can be filled out at the hospital or at a later time by obtaining it from a child support office, county clerk’s office, or online. To complete this process, both parents must read and understand their rights upon signing the form. The form is then filed with the Illinois Department of Healthcare and Family Services.

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How Can Divorced Parents Create a Parenting Plan for Summer Vacation?

 Posted on June 04, 2019 in Divorce

Schaumburg divorce attorney summer parenting plan

Summer vacation is what students look forward to all year. However, if a couple gets a divorce, there can be much uncertainty around this time of year for parents and children alike. Without school to fill children's daily schedules, an entirely different schedule within your parenting plan may be necessary.

What Is a Parenting Plan?

When a married couple with children gets divorced, they must create a parenting plan. This is a court order that specifies how children will be taken care of after a divorce. The parenting plan will explain the amount of time each parent gets to spend with a child, and how parents will make decisions about raising their children. In Illinois, the terms “custody” and “visitation” have been replaced by “parental responsibilities” and “parenting time.” Instead of dividing legal and physical custody of children, parents may divide or share decision-making responsibilities, and each parent will typically be given parenting time with the children.

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How Can I Maintain Financial Stability After My Divorce?

 Posted on May 30, 2019 in Divorce

Schaumburg divorce attorney

The decision to divorce is difficult for any married couple. Whether it is losing the person you love, not seeing your children as often, or adapting to a new lifestyle, everyone has valid fears when the divorce process begins. Another common concern is about personal finances after you and your spouse split. If your spouse makes a significant amount of money, or if you do not have a college degree, giving up that financial support may feel hopeless.

Division of Assets

Unless you signed a prenuptial agreement before getting married, Illinois has a process when it comes to property and debt in a divorce called equitable division. While this does not mean that each spouse gets an equal share of marital property, the division of assets is done based on what is fair, while taking certain factors into consideration. How assets are divided are based on the length of a marriage, how much each spouse contributed to the marriage, economic and health circumstances, and whether children are involved. When it comes to physical property, premarital assets are usually left with the owner, and marital assets are included in the equitable division process.

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How to Help Your Children Through Divorce

 Posted on May 21, 2019 in Divorce

Arlington Heights divorce lawyer

While divorce is difficult on the adults involved, it can be especially traumatic for the children a divorcing couple shares. How you handle the divorce can have a lasting impact on your children’s lives.  

One of the biggest concerns parents have when getting a divorce is when they will see their children. In Illinois, there is no longer “custody.” Parental responsibilities are determined and parenting time is decided and maintained through a parenting plan. A parenting plan determines which parent the child spends time with and when. Other details such as school pickups, holidays, and extracurricular activities will also be covered in your parenting plan. 

Different ages of school-aged children require different types of care when going through a divorce. If you and your spouse have a large family, there may be separate sets of discussions depending on the age gaps and maturity of your children. Here are some helpful tips for how to address this:

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Financing College After a Divorce

 Posted on May 14, 2019 in Child Support

Arlington Heights divorce lawyer

While parents are always proud when their children go off to college, there is no ignoring the immense financial burden higher education can bring, for students and parents alike. Paying for college is not easy for most families, and it is further complicated for parents currently involved in the divorce process or already divorced.

Illinois is one of the few states where a judge can order a parent to pay tuition and other college expenses if a mutual decision cannot be made. This part of family law in Illinois is called post-high school educational expenses. 

Paying for College After Divorce

College expenses are treated like child support, but there are limitations. There is a cutoff of how long a parent is obligated to pay for college expenses for a non-minor child. When a child turns 23 years old, has received a bachelor’s degree, or gets married, a parent no longer can be ordered to support post-high school educational expenses. Your situation may be different, and these limitations can be extended. 

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How Can Mediation Help Solve Child Custody Disputes?

 Posted on May 07, 2019 in Divorce

Arlington Heights divorce mediators

When getting a divorce, there are many decisions to be made. Because of the sensitivity of topics in family law such as child custody and the division of marital assets, a mediator can be a helpful resource when planning your future. Discussing the terms of your divorce with a mediator can decrease the time, energy, and money you spend in court. 

What is Divorce Mediation? 

Mediation is when a neutral third party helps two conflicting groups come to an agreement in a structured meeting or meetings. A mediator does not make decisions for either party but is there to ask questions and lead the discussion toward a resolution. The mediation process starts with both sides making an introductory statement, followed by listing concerns related to the disagreements. The mediator will listen and find common goals of the parties. If the initial session does not result in an agreement, the parties can meet with the mediator to try again. 

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