What is considered a high asset divorce in Illinois? Illinois law defines a high asset divorce as a divorce where the net income of the spouses is $500,000 or more. In the case of a high asset divorce, the court will take into consideration certain circumstances in order to determine alimony....
If you have lived in Illinois for at least 90 days, then you can file for divorce. The first step you must take is filing a petition for divorce in your county. The petition states that you want a divorce, and how you think matters such as division of property and parental responsibilities should...
For spouses who own a business, divorce proceedings generally require the enterprise to be divided fairly under the Illinois equitable distribution laws. This applies to commercial ventures of any size. Small businesses contribute more than 40% to the nation's GDP; the court views smaller family...
Both spouses are required to disclose all assets in an Illinois divorce. However, one spouse attempting to hide assets is surely not an unheard of scenario. Hidden assets can come in many forms which include phony debt, antiques and hidden cash. If one spouse fails to accurately disclose...
What is the difference between legal separation and divorce in Illinois? The key difference is that divorce results in a dissolved marriage, while legal separation does not. One reason individuals may choose to separate is to ensure they are confident in a decision to divorce. In order to legally...
When divorce arises, in many cases, grief does as well. Thankfully, due to grief being a universal experience, there have been many strategies devised to get through it. Here are some tips on how to grieve in a healthy manner, and create the best post-divorce version of yourself possible. Divorce...