Your divorce will directly affect your future in terms of both your finances and your rights as a parent, which makes proceeding with caution well-advised. Divorce can leave you in a state of emotional turmoil that makes focusing on the complex legalities of the matter that much more challenging, but an experienced local divorce attorney in the 60611 zip code area can help.
The division of marital property is a primary concern for every divorcing couple. Those assets that either of you owned prior to marriage and kept separate while you were married will remain the separate asset of the original owner, but distinguishing between separate and marital assets is not always as clear-cut as you might think.
Anything that either of you acquired or that you both acquired together while you were married is considered marital property, which must be divided between you fairly and equitably – rather than necessarily being divided between you equally – upon divorce.
If you and your divorcing spouse share children, you’ll need to determine parental responsibilities, which guide parental decision-making regarding primary matters like the following:
Parental responsibilities can be either sole or joint, and when shared, one parent may be assigned tie-breaking authority for those occasions when a mutually acceptable decision is out of reach.
Parenting time sets the schedule that determines when your children will be with you and when they’ll be with their other parent. Options include splitting parenting time relatively equally or one parent taking on the primary (formerly known as custody) parenting role while the other has visitation.
Child support is the payment mechanism that helps to ensure both parents continue to support their children financially. The factors that play a primary role in this calculation include each parent’s earnings and the amount of parenting time each is awarded. Even when parents divide their time with their shared children evenly or nearly evenly, however, the parent who earns more is very likely to make child support payments to the other.
In Illinois, alimony is termed spousal maintenance, and it refers to payments made by the spouse with the resources to help the spouse whose finances take a hit in divorce. Alimony is determined on a case-by-case basis, and it doesn’t apply in every divorce. When alimony is ordered, it’s generally set for an amount and duration that is designed to provide the recipient with the time they need to gain greater financial independence, such as through job training, the acquisition of job skills, or further education.
The trusted Illinois divorce attorneys at WARD FAMILY LAW, LLC, in the 60611 zip code, take considerable pride in their impressive track record for helping clients successfully navigate the divorce process in pursuit of favorable outcomes that support their rights. Learn more by contacting us today.
Jennifer is a strategic thinker with a remarkable ability to anticipate and address potential challenges. Her attention to detail and thorough preparation were evident in every aspect of my paternity case. This meticulous approach translated into a successful resolution of establishing the father-child relationship and financial responsibility that comes with that. I felt well-represented both inside and outside the zoom courtroom.
I was referred to the firm for their expertise in handling complex business divisions during divorce proceedings. As someone entangled in a high-stakes divorce involving substantial business assets, I can attest to their unparalleled skill, strategic acumen, and unwavering commitment to securing the best possible outcome for their clients. From the business valuation to the creative distribution, thank you.
If you own a business or an interest in a business or stock options (or anything of real value related to a business) then you need to make sure that your divorce attorney knows what they’re doing. My first attorney had no idea and so I had to start over finding the right team that had extensive family law and divorce experience that I needed in Chicago. Their deep understanding of corporate structures, financial statements, and tax implications showcased a level of competence that instilled confidence throughout the entire process. They collaborated seamlessly with financial experts, forensic accountants, and other…
If you would like an attorney to contact you for a free consultation, please complete this form.