Like with many couples, there may be a disparity between you and your spouse’s incomes. Whether this difference is major or minor, it could affect the terms of your settlement if you two are divorcing. This is because whichever of you has a higher income may have to...
Divorce
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College savings? You need to protect it during a divorce
If you and your spouse have decided to get a divorce, one of the issues you might run into is what you should do with your child’s college savings account. If you’ve been setting aside money in an account for them but don’t have it protected in a separate account...
Is it better to stay married or to divorce when you have kids?
You and your spouse have been together for over 20 years, but over time, you’ve grown apart. Your children are now reaching their later years in high school, so while you’re considering getting a divorce, you wonder if now isn’t the best time. The last thing you want...
How Should You Divide Your Business After Divorce?
If you and your spouse co-own a business, figuring out what will happen to it after you get divorced may be one of the most important issues during the divorce process. When both spouses have a stake in the business it can complicate asset division. Fortunately, you...
Pension money from before marriage won’t go to your ex
Pensions and divorce can get complicated. However, since a pension may be one of the biggest financial assets that you need to address, it’s important to break it down a bit and examine your rights. First and foremost, if you’re getting a pension, your spouse may have...
Valuing a business for divorce purposes
There is an astonishing number of small businesses here in the state of Illinois – an estimated 1.2 million, according to the most recent federal figures. These businesses only exist thanks to the hard work and dedication of their founders and owners. A divorce feels...
Negative emotions and divorce
Ending a marriage often leads to a lot of negative emotions. Our law office realizes that many people become very stressed out and some struggle with other feelings, such as anger or depression. Moreover, some people are dealing with difficult emotions prior to their...
What are the reasons for gray divorce?
You may have heard the term "gray divorce" a lot in the news lately and wondered what it meant. "Gray divorce" is simply a term used to describe married couples who split up after age 50. You have probably heard about it more often because, according to Financial...
Choosing whether or not to keep the house in a divorce
Divorcing spouses who own a home together must figure out what they will do with their house during their divorce. Many homes are sold during divorces and any resulting proceeds from the sale may be split between the spouses. Some people may not want to sell their...
Planning ahead can save your business in a divorce
It is very difficult to protect your business in a divorce if you do not have any legal measures in place before the proceedings. As a business owner, you have to plan for any possibility no matter how unlikely it is. So, if you get married, you need to understand...
