Posted on August 21, 2024 in Divorce

Through a stressful process like divorce, many individuals worry about the fairness of the court’s decisions. Luckily, there are proactive steps you can take to help ensure that the divorce proceedings are fair and equitable. Regardless of the specifics involved in your divorce, hire an attorney to represent you through these proceedings. Failing to hire a lawyer will increase the chance of a divorce settlement that is unfair to you.

The Advantage of Filing for Divorce First

If you find yourself headed for divorce, consider filing first. This strategic move can help frame the issues for the court and outline your perspectives regarding asset division, custody arrangements, and more. By establishing your position early in the process, you can set the tone for negotiations and potentially influence the court’s view of the case.

Filing first may also provide you with the opportunity to present your arguments to the judge, potentially leading to a more favorable interpretation of your needs and wishes.

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 Posted on August 15, 2024 in Divorce

Divorce can feel like a financial whirlwind. Questions like, "Who pays what?" can be especially concerning when debt is involved. A significant question many people wonder in divorce is whether he or she will be responsible for his or her spouses’ debt. If you are getting divorced in Illinois and have questions about debt, discuss these questions with a trained attorney.

The Basics of Debt Division in Illinois

Following the principle of equitable distribution, Illinois law states that any debts obtained over the course of the marriage will be required to be split fairly between the spouses. Suppose your spouse accrued considerable credit card debt while paying for joint expenses during the marriage. In that case, there is a high probability that you could be held responsible for part of that debt.

The Ins and Outs of Marital and Separate Debt

Understanding the differences between marital debt and separate debt is pivotal. Any credit card debt incurred during the marriage is generally considered marital debt, no matter whose name is on the credit card. On the other hand, if your spouse brought credit card debt into the marriage, that would likely be considered separate debt, meaning your spouse would retain full responsibility for it.

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 Posted on August 14, 2024 in Divorce

In a divorce, financial concerns can add tremendous stress to an already challenging situation. Ensuring that your divorce expenses do not skyrocket to levels you are unable to handle is important, not just for your own peace of mind but also for making sure you can focus on rebuilding your life once the divorce is finalized. Discuss with your lawyer different strategies to employ to manage costs effectively during this critical time.

Discuss Costs Early and Often

It is often said that one of the most effective ways to keep legal expenses in check is to have open conversations about costs with your attorney from the outset. Before officially embarking on your divorce proceedings, discuss your budget and any financial constraints you may have.

Divorce attorneys may provide an estimate of his or her fees and the typical costs involved in a divorce, allowing you to prepare accordingly. Also, try to get an understanding of billing structures – whether your lawyer charges hourly, offers flat rates, or works on a retainer basis – as this can help you track your expenses more clearly. Creating and sticking to a budget and discussing it regularly can help prevent unwelcome surprises as your case unfolds.

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 Posted on August 09, 2024 in Divorce

Breaking the news of divorce to your children is one of the most difficult conversations you may ever have as a parent. As parents, we want to protect our kids from pain and confusion. However, discussing divorce is a necessary step in helping them understand the change happening in their lives. The way you approach this sensitive topic can significantly impact their emotional well-being. Before talking with your kids, seek advice from a lawyer about how to best go about this painful but important, conversation.

Decide What You Will Say Beforehand

Before sitting down with your children, take time to plan what you will say. Consider the key points you want to convey, ensuring your message is clear and gentle. It may help to practice your words or write them down. Keeping the conversation focused and straightforward will help your children grasp the situation better and feel more secure during the discussion.

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 Posted on August 06, 2024 in Divorce

A common misconception exists that getting a divorce is always a lengthy process, spanning many months and sometimes even years. However, in Illinois, it is indeed possible to achieve a relatively quick divorce, especially if you and your spouse agree on key issues. Even in situations where a divorce may be quicker than usual, obtaining legal guidance through an attorney is crucial.

Exploring Uncontested Divorce

What often makes divorce a long and drawn-out process is that there is a lot to figure out. As the name suggests, an uncontested divorce occurs when the issues are uncontested, as in both spouses agree on all major issues like asset division, child custody, and spousal support arrangements.

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 Posted on July 30, 2024 in Divorce

 Divorce is a major life event that brings emotional upheaval and often a dramatic financial shift. One of the critical tasks you will face after your Illinois divorce is rebuilding your financial portfolio. But what exactly is a financial portfolio, and how do you restore it? Contact a divorce attorney to walk you through the basics and provide you with straightforward tips to help you regain financial stability.

What is a Financial Portfolio?

A financial portfolio is a collection of various financial assets that you own. These assets can include stocks, bonds, real estate, savings accounts, and other investments. Think of your financial portfolio as a pie chart that shows the different places where your money is invested. A diverse portfolio spreads your risk and can help grow your wealth over time.

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 Posted on July 29, 2024 in Divorce

Few processes are more taxing, both emotionally and financially, than divorce. While sorting out legal fees, division of assets, and future planning, many individuals worry about whether their divorce will lead them to file for bankruptcy.

While divorce and bankruptcy are connected in some cases, it is important to understand the underlying reasons and know that a bankruptcy filing is not inevitable just because you are getting divorced. Talk with your attorney to see whether bankruptcy will be relevant to your particular situation.

Financial Problems During the Marriage

Financial issues during the marriage, such as mounting debts, unpaid bills, and financial mismanagement, are common reasons couples choose to divorce. These pre-existing financial problems often do not disappear with the dissolution of the marriage. In fact, they may become more pronounced as debts are divided between spouses.

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 Posted on July 23, 2024 in Divorce

Difficult processes like divorce do not need to be navigated alone. While some divorces can be resolved amicably through processes like mediation, other divorces require the knowledge and resources of a skilled divorce lawyer to advocate for your rights in court. When courtroom litigation becomes necessary, having a dedicated attorney by your side can positively affect your chances of securing a favorable case outcome.

Strategic Planning and Preparation

A successful courtroom battle begins long before the first gavel strike by the judge. Your divorce lawyer will invest significant time and energy strategically planning and preparing your case. This involves gathering all relevant documents, like financial statements and evidence, to build a robust foundation for your arguments.

Your attorney will also identify key witnesses who can provide valuable testimony to support your claims. By meticulously planning for every potential scenario, your lawyer ensures your case is presented in a compelling way.

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 Posted on July 19, 2024 in Divorce

Divorce mediation presents a peaceful and collaborative way for couples to address the end of their marriage without the combative setting of a courtroom. It allows couples to negotiate the terms of their divorce with the assistance of a neutral mediator. However, one crucial point that cannot be overstated is that mediators do not provide legal advice. This highlights just how vital legal representation from an attorney is during mediation. Here is a detailed examination of why having an Illinois lawyer is so important.

Mediators Facilitate and Do Not Advise Legally

It is critical to grasp that while mediators facilitate conversations and help parties reach an agreement, mediators are not there to offer legal counsel. Their role is purely to support communication and ensure discussions flow smoothly, which means mediators will not inform you about your rights or suggest what you should fight for. This absence of legal advice can lead to uninformed decisions. An attorney, however, ensures you understand your rights and the full implications of any agreement.

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 Posted on July 15, 2024 in Divorce

The emotions involved in divorce are often thought of as the most difficult aspect of the entire process. While emotional factors play a considerable role in a divorce, so do the financial implications. One area that often gets overlooked but is crucial to your financial well-being is your credit score. Particularly in the aftermath of divorce, maintaining a healthy credit score can be a lifeline that can help keep you afloat.

Whether you are just starting the divorce process or are already knee-deep in legal proceedings, protecting your credit score should be a top priority. Discuss with an Illinois divorce lawyer the best way to protect your credit score before, during, and most importantly, after proceedings.

Close Joint Accounts

One of the first steps you should take is to close all joint credit accounts. This prevents either party from racking up debt you may still be responsible for. Reach out to your lenders to freeze or close these accounts immediately. Also, if you have mortgage or car loans, talk with your attorney to properly manage these larger financial obligations. Remember that not closing joint accounts can leave your financial future vulnerable to your ex-spouses’ actions, which is a risk that is not worth taking.

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