If you are contemplating a divorce, one of your first concerns may be how the divorce will affect your financial future. Dissolving a marriage will inevitably have an impact on both spouses’ financial circumstances. This is particularly felt in high-asset divorce cases. The higher and more varied assets you own, the more complex challenges may arise during divorce. Regardless of the specific assets involved, you will need experienced legal help during your high net worth divorce.
A marriage does not automatically include a new spouse in a will. If you get married, you will need to change your will, otherwise your new husband or wife will not be included as beneficiary. Moreover, if you have an existing will, you must amend it or create a new will to add your new spouse.
One of the legal documents we should all have is an Illinois power of attorney for health care. This document allows you to designate a person of your choice to make basic life and death decisions during a last illness in regards to how much extraordinary care a doctor or hospital should give you in the final stages of life.
During many family law cases, parents often face many financial stresses. This is particularly felt in child support issues. Illinois law requires that each parent must financially provide their child. State law also provides a complex calculation for determining child support amounts. In these cases, child support is either settled through out-of-court agreements or is decided by a judge using the statutory calculations. Either way, each parent’s income is essential to figuring child support obligations. In some cases, parents purposefully become unemployed or underemployed to avoid paying…
Sometimes a life insurance policy may be the most valuable asset in an Illinois divorce. In fact, a life insurance policy may be used to guarantee maintenance paid to a spouse as a result of a divorce. However, you may ask:
Family law matters are often seen as emotional battles waged between spouses or parents. Child custody disputes are often seen as the some of most contentious cases because a child is involved. It can be very difficult for parents to come to terms with the way relationships will change after the custody dispute is resolved. Your relationship with your child and your child’s other parent will be affected, likely in many ways. However, in many cases it is essential for both parents to be able to move forward as co-parents for the child’s sake. Establishing a parenting plan or hiring a …
Many people are familiar with the often-quoted statistic that half of all marriages end in divorce. Multiple studies from the 1970s and 1980s verified that number. However, a recent study suggests a 50 percent divorce rate has not been true for many decades. In fact, new research indicates that nearly 70 percent of all marriages begun in the 1990s reached 15-year anniversaries. Some experts believe these trends will continue, which could result in roughly two-thirds of all marriages remaining intact.
Our firm handles family law and personal injury matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Burr Ridge, Carol Stream, Darien, Downers Grove, Elmhurst, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lombard, Naperville, Oak Park, Oak Brook, Oakbrook Terrace, Clarendon Hills, Oswego, Park Ridge, Roselle, St. Charles, Geneva, Villa Park, Warrenville, Wheaton, Western Springs, LaGrange, Winfield, Woodridge and Yorkville.