Investigating Business Fraud During Divorce NegotiationsYou should listen to your instincts in a divorce if your spouse’s reported business assets and income seem to not add up. You may not know all of the details about his or her business, but you know in general whether your family is doing well financially. Your spouse may be misreporting his or her business income or hiding assets. Business fraud is both illegal and detrimental to your financial interests in the divorce. Only a thorough investigation of your spouse’s business can determine whether your suspicions are true.

Examples of Fraud

Your spouse may use employee benefits to hide his or her income, such as deferred compensation and stock options. He or she may not tell you about a company expense account that will reimburse his or her expenditures. However, a spouse has more opportunities to commit fraud if he or she owns a business. Your spouse may mislead you about the value of the business by:

  • Not reporting or undervaluing business assets;
  • Taking on additional debts that will be repaid after the divorce;
  • Overpaying creditors with the intention of being reimbursed;
  • Understating the business’s total value or growth potential; or
  • Creating secret accounts or shell corporations for the purpose of hiding assets.

Motivation

The value of your spouse’s business interests helps determine the division of marital property, child support, and spousal maintenance. The business may be a marital property, giving you a right to partial ownership or equitable compensation for its value. The business is also a major component of your spouse’s income, which determines whether your spouse is responsible for support payments. Your spouse can gain a financial advantage in the divorce by misreporting the business’s value. However, he or she may be lying to you in order to hide other illicit activities:

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Hinsdale IL parenting time attorneyDespite parents’ best efforts, children of divorce often feel a significant amount of stress during and immediately after the divorce process. Typically, when two parents divorce, one parent is the “main” caregiver that the child resides with the majority of the time and the other parent is granted specific parenting time, though this can be problematic for the child. In an effort to make this life transition easier for children, something called a “nesting” arrangement has been becoming more popular for families of divorce.

What Is a Nesting Arrangement?

In a nesting arrangement, both parents move out of the family home into separate living spaces. The children remain in the family home, and each parent comes and goes according to the parenting time schedule. Some parents share the separate living space as neither will be there at the same time, and some parents get different living spaces altogether.

Benefits and Drawbacks of Nesting Arrangements

There are many things to consider when making the decision to partake in this arrangement, which some may regard as unconventional. Here are pros and cons of nesting arrangements:

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Hinsdale IL divorce attorneyChildren whose parents are divorcing can have varied reactions to the news of the divorce. Depending on their age and maturity level, they may not understand what a divorce is let alone what it means. Some children react with feelings of guilt, thinking they are the cause of the divorce. Other children may fear that they will lose one or both parents because of the change. As the parent, it is your job to make sure that your child understands the situation so that they can have healthy reactions. Here are three tips you can use to help you tell your children about your divorce:

1. Tailor the Conversation to Your Child’s Level of Understanding

Younger children often do not understand the entire aspect of divorce. Most of the time, all they know is that mommy and daddy are no longer living together. When talking to younger children about your divorce, make sure you use words and concepts that they understand. Your conversation does not have to go into great detail, but it is important that you tell the truth. Older children will probably need a bit more explanation, however, you should avoid disclosing too much information so as to paint the other parent in a bad light.

2. Make Sure It Is the Right Time

It is usually recommended that all children be present when you decide to break the news -- the last thing you would want is for one child to hear the news from another. Also, do not tell your children too early that you are getting a divorce -- if divorce is not certain between you and your spouse, you should not alert your children about the issues.

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Hinsdale IL property divsion lawyerDivorce is financially stressful in virtually all cases. Many American families rely on two incomes to make ends meet. When you divorce, your income is reduced to your income alone, which can mean big changes for your lifestyle. In addition to having your income reduced, your expenses also tend to increase.

It is not impossible to achieve financial security after your divorce, but it can be difficult without taking the proper steps. Here are five ways you can take care of your finances after your Illinois divorce:

1. Take Inventory of Your Finances

When you are married, your finances become intertwined. The first thing you should do after your divorce is to take an inventory of your assets, liabilities, income and expenses. This will help you know where you stand when you move on to step two.

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Does Cohabitation Before Marriage Lead to Divorce?Up until the 1990s, social researchers associated premarital cohabitation with higher rates of divorce. Both cohabitation and divorce were less socially accepted at the time, and conventional wisdom said that people who committed the taboo of cohabitation would be more willing to commit the taboo of divorce. Society’s views on cohabitation have softened in recent decades, and some divorce studies have concluded that cohabitation can decrease the likelihood of divorce. However, researchers lack a consensus on the effects of cohabitation before marriage.

Normalization

Cohabitation has become more common for younger couples because:

  • There is less stigma about premarital sex;
  • More people are waiting until they are older before they get married;
  • Some couples do not think marriage is important in their relationship; and
  • Living alone in urban areas is expensive.

A larger sample size makes it less likely that outliers will skew the final results. With cohabitation becoming more normal, the divorce rates for people who lived together before marriage should more closely resemble the average divorce rate.

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