High asset divorces typically involve many different types of assets which need to be allocated or otherwise divided. Generally, this includes retirement accounts. Retirement accounts are most commonly 401(k) accounts or Individual Retirement Accounts (also known as “IRAs”). Occasionally, they will involve a pension, which is another type of retirement account. In the divorce settlement
Continue Reading »Typically, unless both parties want a divorce equally and agree to do things quickly and without litigation, both parties are going to incur attorney’s fees and court costs throughout the dissolution of marriage proceedings. The general rule for attorney’s fees in the United States is that both parties pay their own legal fees. Despite this
Continue Reading »In divorce and parentage cases, “the best interest of the child” is a phrase often thrown around by judges and lawyers. But what does it mean? The phrase sounds like it is vague and easy to cross standards. Still, the courts use a specific list of factors in the Illinois Marriage and Dissolution of Marriage
Continue Reading »The financial implications of a divorce can affect you for the rest of your life. This can be especially true when there is a significant income disparity between spouses. A large income disparity can occur when the wife was a stay-at-home mother while the husband was self-employed and the sole income earner for the family.
Continue Reading »While divorce is always stressful, no matter who the person is that is going through it. When it comes to couples or a spouse that is part of a family business, the stress in these sorts of proceedings can be even more significant. They are involved in a business with family members, and so now
Continue Reading »Getting a divorce later in life, often referred to as “grey divorce,” has become increasingly common in Chicago family law courts. As a Chicago divorce attorney, I’ve worked with several older clients who underwent a divorce for a myriad of reasons. Some knew their marriage was failing but choose to postpone their divorce until the
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