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Business owners and divorce in Illinois


There are certain aspects of a divorce in Illinois that are the same for everyone. One is that everyone must either be separated for two years or both spouses must agree to waive that requirement. If they waive the two-year requirement, they still must be separated for at least six months. Another aspect is that everyone will need to divide the marital property. The complexity of the property division can vary greatly.

Dividing unvested stock options and bonuses in a divorce


When people are married in Illinois, it is common for each spouse to have property of their own. However, once the parties are married, any property that is acquired during the marriage is marital property, regardless of which spouse actually obtained the property. When a couple is divorced, they must equitably divide the marital assets. This can be fairly straightforward at times or very complicated in others.

Dividing pension accounts in a divorce in Illinois


Dividing assets in a divorce can be one of the more complicated parts of an Illinois divorce. However, some assets are easier to divide than others. Tangible items, such as furniture or automobiles, can be relatively easy to divide. Dividing bank or retirement accounts with a known amount of money can be fairly easy, as well. However, some assets, such as pensions, can be a little more difficult.

Dividing retirement accounts in an Illinois divorce


As one goes through a divorce in Illinois, there are many issues to discuss as the couple separates their lives. These issues include child custody, visitation, child support, spousal maintenance and property division. Each one of these issues can be very complicated and take some time to resolve. It all depends on the circumstances of each divorce and each issue is very fact specific.

Agreements for settlement of divorces in Illinois


Divorce can happen for many reasons, either because the parties fell out of love or generally do not see eye to eye on various issues. That is partly what makes the divorce process emotional and sometimes difficult or contentious. There are many issues that need to be resolved during an Illinois divorce, and therefore there are plenty of issues to disagree about.

How is marital property divided in a divorce in Illinois?


There are many issues that must be resolved in any divorce in Illinois. The big issues are child custody, child support, alimony and property division, which includes dividing up all of the couple's assets. When a couple is dividing assets there are two major steps. The first step in this process is determining what is marital property. After that determination has been made, the next step is dividing the assets between the two spouses.

Temporary orders in divorces


Divorces in Illinois can take some time to complete. There are many issues that arise during the divorce process that must be dealt with before the divorce is finalized. However, many times the couple starts living apart at the beginning of the divorce. This means that many of the issues that must be determined during the divorce will become issues prior to the divorce being complete.

What is marital and non-marital property in Illinois?


When two people get married, they start to share their lives with each other. If they should happen to get a divorce, they will also have to divide what they had been sharing. This can cause some disputes if both spouses want a certain piece of property or if one spouse has to give a significant portion of a bank or retirement account to the other spouse. However, under Illinois law, the couple must have an equitable division of the marital property. So, it is important to understand what is considered marital property in Illinois.

Learn more about the impending changes to Illinois' alimony laws

The holiday season is officially here. While it's understandable how you can get caught up in everything this entails, it's important not to overlook your legal affairs for too long -- especially if you are considering or are already in the middle of a divorce.

Learn more about the evolution of spousal support in Illinois

Our firm recently published an important SlideShare presentation about how alimony, also known as maintenance under state law, is going to undergo a major change. View our presentation below for insight into what the future holds concerning spousal support.

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