When it comes to divorce, there are so many things to consider. One thing that many people worry about is how their assets will be distributed and whether they will lose their home or other property. However, many people do not even consider that their businesses could come into the realm of assets that are distributed between them. If you or your spouse own a business and you are contemplating divorce, it is important to consult with an attorney as...

You have likely heard horror stories about alimony. Many people stay in unhappy marriages longer than they want purely out of fear for the financial impact the divorce could have on them. They worry that they will be unable to maintain their current standard of living if they have to fork over a large part of their earnings to their ex-spouse each month, essentially indefinitely. Alimony is meant as a means of establishing fairness and equity for both parties in...

Illinois is an equitable distribution state, which means that the judge of your divorce proceedings will essentially have discretion to determine what is a fair division of all marital assets. In some cases, it may still be a 50-50 split, as it would be in other states. However, it is not limited to being equal, and courts can consider a number of factors in determining what a fair share for each spouse is. One of the factors that judges can...

If you are going through a divorce, one of the first things you may be concerned about is how your assets will be divided. Will you get to keep the house? Will your spouse be entitled to any part of your business? The valuation of marital assets is a vital part of this process. These are big questions, and we will do our best to answer them here. Because it can be easier to understand these concepts in application, we...

A family of four resides in a large ranch house with a pool on an expansive five acres in Barrington. The Father, Alex, owns a successful electrical contracting business. He has been a devoted father through the years, attending all of his son’s little league games and his daughter’s dance recitals. Alex has also been a good and loving husband, taking his wife, Erica, on trips around the world and showering her with gifts whenever he could. He supported her...

They say that in life only two things are certain — death and taxes. However, with a 50% divorce rate, divorce is fairly certain, as well. Most people would be hard-pressed to think of something less enjoyable than divorce or taxes independent of each other, so when they collide, it can feel truly overwhelming. Luckily, you do not have to figure this out on your own. An experienced Illinois divorce attorney will know the ins and outs of taxes and...

A young woman is bar hopping downtown with a bunch of her friends, celebrating St. Patrick’s Day in Chicago. They stop to see the Chicago River dyed green, drink green beer at a number of pubs, and enjoy the beautiful weather as they explore the Loop. When day turns to dusk, she and her friends are ready to head home. Just as she is about to get an Uber on her phone, one of her friends offers to drive her...

A salesman from Schaumburg has had a very good quarter. His bosses have invited him and everyone else in his office who hit their sales quotas to quit work at lunchtime and enjoy free St. Patty’s day drinks at their favorite local bar as a reward for their efforts. While he’s reluctant to start drinking so early on a Thursday, the salesman is proud of the work he has done and he does not want to be left out of...

A Schaumburg couple recently started talking about getting divorced. During the course of their 10-year marriage, they have seen ups and downs, but lately the downs seem to be most prevalent. The wife recently learned about a number of credit cards that the husband had opened without her knowledge, and the debt they now owe is causing intense stress on them both. She is furious that he has breached her trust, and she blames him for their marriage ending. She...

The Illinois legislature has recently passed several criminal justice reforms to benefit those detained and held in custody. Some of these changes are a follow-up to the historic criminal justice reform law that went into effect on January 1st. Recently, the house signed a second Bill tweaking the original criminal justice reform legislation passed in the wake of George Floyd's killing. Those in Custody are Now Entitled to Three Phone Calls The new law requires law enforcement officers to give...

A husband and wife have decided that it is time to get a divorce. The husband has moved in with his new girlfriend in Champagne. The wife has remained in the family home outside of Chicago. The wife wants to get the divorce process started but is not sure whether she should file in a Chicago court or a court near Champaign. The divorce process is many people’s first interaction with the legal system. If you are considering filing for...

The Los Angeles Rams are heading to Super Bowl 56 after defeating the 49ers in the NFC Championship. A Chicago-area man who has experienced some struggles with his business lately decided to bet heavily on the NFC championship game. He bet on the 49ers, who were heavily favored to win. Thinking it was a safe bet and a way to help himself out with some of his debt, he put a significant amount of money on the 49ers. He began...

The owner of a successful real estate firm in Schaumburg had a banner year in 2021. The low-interest rates combined with a low supply of houses led to one of their best years yet. He is feeling excited about his successes and wants to celebrate with his employees. He decides to host a Super Bowl party at a popular bar in Schaumburg with a television in the room. He rents out the party room and tells his employees that the...

A Chicago-area man counts down the days until the Super Bowl when the Rams will play the Cincinnati Bengals for Super Bowl LVI. He had a difficult childhood but lifted himself from his circumstances to become a businessman and a family man. He spent years helping his brother, who is 10 years younger than him. He coached his brother’s pee wee football teams and has been there for him for his whole life. Now his brother is playing for the...

During the championship game for the AFC title, the Bengals Faced off against the Kansas City Chiefs. A businessman in the northern suburbs in Chicago is a massive Kansas City Chiefs fan. He grew up in Kansas City and went to college there, moving to Chicago after getting a job offer in Chicago. He and his friends go to their favorite sports bar to watch the game. He is devastated that the Bengals beat the Chiefs 27-24 in overtime. He...