Posted on September 23, 2021 in Divorce

Among the most important factors someone must manage in their divorce is their overall financial picture - both now and in the future. It is crucial to make decisions during divorce that will protect you even many years after the divorce has ended. 

One frequently overlooked part of a divorcee’s finances are their Social Security benefits. These benefits are often forgotten or not addressed because, unlike other retirement resources such as 401k or Roth IRAs, Social Security benefits are not subject to the property division process. 

Nevertheless, understanding whether you are entitled to Social Security benefits as a result of your spouse’s work history is important for financial security in retirement. Federal law allows for circumstances in which one spouse can claim benefits based on their former spouse’s employment record. 

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 Posted on September 20, 2021 in Divorce

When a child’s parents get divorced, the parents or the court must make arrangements for the child’s care that are written down and made legally binding in a document called a “parenting plan.” A parenting plan addresses the allocation of parental responsibilities, parenting time, holiday schedules, and something called the “right of first refusal.”  Here, we will discuss what the right of first refusal is and how parents in Illinois can address the right of first refusal included in their parenting plan. 

What is the Right of First Refusal? 

When a parent has the right of first refusal, it means that, under certain circumstances, they are the first person who gets called when the other parent needs help with childcare. Because it does not always make sense to call the other parent for a brief trip to the grocery store, the right of first refusal only applies in some situations. A couple’s unique parenting plan will determine the circumstances that will trigger the right of first refusal. 

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 Posted on September 15, 2021 in Family Law

Illinois couples and individuals considering adoption have many things to think about. How long will the process take? Which type of adoption is right for us? How will life change after the adoption is complete and a new child comes into our lives? In addition to other challenges potential adoptive families may face, the odds can seem overwhelming. 

In this article, we will look at the five different types of adoption available to parents in Illinois. Each option has benefits and drawbacks, and it is important to discuss your situation with a qualified Illinois adoption attorney who can help you decide which type of adoption is right for you. 

Private Adoption

Sometimes called an “independent,” “non-agency,” or “unrelated” adoption, private adoptions occur when the adopting parents have no prior relation to the child and an agency is not involved. Parents hoping to adopt using a private adoption work directly with the child’s biological family - usually a young, single mother - and adoptions usually take place immediately after birth. Private adoption is usually the best option for parents hoping to adopt an infant. However, private adoption can also leave prospective parents vulnerable to risks like the mother changing her mind.

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 Posted on September 10, 2021 in Divorce

Many people are dissatisfied after their final divorce order is issued by an Illinois court. After months or years of attempting to resolve complex issues like marital asset division and parenting time, a judge may make a final decision that one or both parties are not happy with. Aggrieved persons may want to appeal the court’s divorce decree for something that is more in their favor. 

However, divorce orders are complex legal transactions and may only be successfully appealed in very specific circumstances. In this article, we will look at some common questions about divorce decree appeals. Keep in mind that the best source of advice and information about your unique situation is a qualified Illinois divorce attorney. 

When Can a Divorce Decree Be Appealed in Illinois? 

Unfortunately, it is simply not possible to pursue an appeal simply because you disagree or are unhappy with the terms of the divorce decree, no matter how unfair or biased you may think it is. The only time a divorce decree can be successfully appealed is when there is a possibility that the judge’s decision stemmed from an error in the interpretation or application of Illinois law. 

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 Posted on September 08, 2021 in Divorce

When spouses are married, they generally file their taxes jointly and claim their children as dependent exemptions. But after the divorce is finalized, parents begin filing taxes independently. A question then arises: Who gets to claim the children on their tax returns? 

Divorce contains many such tax issues, and this article discusses general strategies for how parents might handle the particular issue of claiming children as tax exemptions. If you are in need of legal advice, contact a qualified divorce attorney. 

Tax Exemptions in the Divorce Decree

Everybody knows that the divorce decree addresses the most pressing issues related to children: Allocation of parental responsibilities, division of parenting time, and child support. But the divorce decree can also address important issues like which parent gets to claim a child as a tax exemption. Tax exemptions can be as good as cash in a parent’s pocket, but each child can only be claimed once - understandably, parents may disagree over who gets to claim the children. 

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 Posted on September 03, 2021 in Divorce

The division of marital property is one of the most complex elements in a divorce, and this is especially true when one or both spouses own a small business. Entrepreneurs who start their own businesses are highly invested in the business’s success, and are often understandably concerned about the potential impact of marital asset division on their business’s value. 

On the other hand, many people work for a business started or owned by their spouse and have spent years helping the business increase in value and productivity. Regardless of the position from which a spouse approaches the divorce, both parties have an interest in knowing the true value of a business. 

How is the Value of a Small Business Determined? 

The three primary methods of determining a small business’s value are: 

• The Asset Method - This method combines a business’s debt with its assets to come up with an estimate of the business’s value. Business owners using the asset method may use tangible assets, like equipment and real estate, as well as intangible assets, like reputation and community awareness. 

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 Posted on August 31, 2021 in Divorce

One of the most contentious issues in any divorce is the marital property division process. This can be especially true in high net worth divorces when couples disagree about which assets are marital property and should therefore be included in negotiations. Illinois courts will only divide marital property, so establishing what falls into this category is of utmost importance. However, determining what a marital asset is - to say nothing of what it is worth - can be a very complex process. 

Sometimes, spouses wrongfully claim each other’s individual property as marital property or hide marital property to increase their own net worth after the divorce. If you believe your spouse is engaging in deceitful tactics in order to manipulate the value of your divorce settlement, a forensic accountant who understands the asset tracing process may be helpful to you. 

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 Posted on August 27, 2021 in Divorce

One of the most selfless acts a person can undertake is to love and nurture another’s child as one’s own using the process of adoption. There are several types of adoptions in Illinois, including international, relative, and foster adoptions, but this article focuses on one type in particular: Private adoption. 

Private adoption is when an adoptive family works directly with the birth mother or parents of a child. Private adoption has many advantages, but private adoption also has some drawbacks. In this blog, we will discuss the pros and cons of private adoption. Keep in mind that, regardless of the type of adoption, having a practiced attorney is a crucial part of ensuring that a successful adoption takes place.

What are the Advantages of Private Adoption? 

• Many prospective parents would prefer to raise a child from infancy, and private adoptions allow parents to do this. Most older children are adopted through a state agency and may already be living in foster care.

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 Posted on August 24, 2021 in Divorce

Most couples getting divorced in Illinois will divide the value of common assets, like the marital home, retirement accounts, and vehicles. However, some couples must also divide fairly unique assets, such as collectibles and antiques. The value of collectibles can be difficult to ascertain and division is complicated by the fact that there is no way to literally “divide” a baseball card or valuable piece of furniture. 

These items are commonly at issue in a high net worth divorce, but any divorce may have cherished items that have been passed down through generations. Spouses often feel sentimentally attached to such items, making it even more difficult to determine the true value. 

How are Collectibles Valued in an Illinois divorce? 

Because collectibles can substantially increase in value since their purchase, a valuation expert is often a useful resource for determining the current value of an item. Valuation experts often specialize in dealing with certain items, such as coins, baseball cards, jewelry, or vehicles. An expert will try to determine the fair market value of an item - in other words, what the item could be sold for right now. 

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 Posted on August 23, 2021 in Divorce

 If there could be a perfect divorce, it would be one in which both parties agree on how everything should be allocated and paid for. It would move quickly, be relatively inexpensive, and both spouses would go on to live their individual lives without hostility or resentment. 

Unfortunately, this is rarely the case. When couples cannot agree on issues such as parenting time, asset division, spousal maintenance, and child support, the parties may end up in a divorce court trial and the court will make a decision about the contentious topics. 

How Do Divorce Trials Work? 

Divorce trials are presided over and decided by one judge - there is no jury. Although both sides may call witnesses, spouses are often the only individuals to provide testimony and evidence. Regardless of how complicated the divorce is, divorce litigation generally follows the same steps:

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