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Subscribe to this list via RSS Blog posts tagged in division of assets

Posted on in Family Law

Illinois family lawFamily law is very complex. For this reason, there are many family law misconceptions that our firm frequently encounters. To help you avoid serious mistakes that could negatively impact the outcome of your family law case, we have compiled this list of five of the most common family law misconceptions:

1. Domestic violence claims must involve physical abuse.

Contrary to popular belief, domestic violence does not always involve physical abuse. Although physical abuse is the most serious form of domestic violence, there is also emotional abuse, sexual abuse, financial abuse, spiritual abuse, and technological abuse. Domestic violence may involve controlling access to a spouse’s money, diminishing their self-esteem, and preventing them from practicing their religious beliefs.

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DuPage County divorce lawyersOf all the assets that a couple owns, the family home tends to be the most emotional to negotiate in divorce. It can also make up nearly half of the couple’s assets, depending on where they are in the mortgage and depreciation scale. As such, it is crucial that couples fully understand the risks and potential pitfalls associated with family home negotiations – especially if one party plans on keeping it. The following information may help. 

Approach Negotiations with a Clear Head

The first thing to keep in mind is that divorce, though often an emotionally wrenching situation, is more like a business transaction, and it should be treated as such. This means, no matter how irritated or angry you might be with your spouse, you will need to come to the negotiations with a clear head. Avoid being petty, disengage from arguments, and consider letting your lawyer handle the bulk of the communications to minimize contact.

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amicable divorce, Illinois divorce attorney, Dupage CountyEven under the best of circumstances, divorce proceedings are stressful for all involved. If you plan appropriately, however, it is possible to minimize that stress. As an added bonus, proper planning can help save money and, in many cases, encourage a more amicable divorce. Reap all of these benefits using the following divorce planning tips.

Take an Asset and Expense Inventory

Child support, division of marital assets, and other financial particulars of a divorce are based upon what you and your spouse own as both individuals, and as a couple. Unfortunately, once the proceedings start, this information may be difficult to locate (this is especially true if your spouse is trying to hide any assets to keep more of the money for themselves). Avoid this hassle (and reduce your risk of losing out on money that may be owed to you) by taking a preemptive approach prior to filing.

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Posted on in Family Law

dissolving a marriage, dupage county divorce lawyersWhile most people recognize that divorce is a massive undertaking, many still underestimate just how complex, taxing, and exhaustive the process can really be. It is this lack of understanding that often keeps them from developing an effective and comprehensive exit strategy. As a result, they may unintentionally and unnecessarily extend the already time-intensive process, which drains even more of their energy and resources. Avoid this common pitfall with the following tips.

Employ the Help of a Therapist or Psychologist

In the midst of a divorce, it is easy to make decisions based on emotion—even more so if the divorce is occurring because of infidelity, addiction, abuse, or other dangerous or emotionally triggering circumstances. A therapist or psychologist can help you stay grounded, give you a professional to help you decide whether you are making your decisions out of practicality or out of anger and resentment. Additionally, it should be considered that, when paying for a divorce, billable hours with your therapist will ultimately cost less than trying to battle matters out in court.

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asset evaluation IMAGEThe Huffington Post is reporting that the divorce of reality star Khloe Kardashian and NBA analyst and former basketball player Lamar Odom will be a significant story arc in the upcoming season of E! Entertainment Television’s hit reality show Keeping Up with the Kardashians. The couple married in September 2009, but controversy has wracked the relationship from the beginning. Amid accusations of infidelity on Odom ‘s part, as well as alleged cocaine and Oxycontin abuse, the couple filed for divorce last December. Kris Jenner, Kardashian’s mother, told the Huffington Post that the couple's’ troubles, Khloe’s trial in dealing with the relationship’s end, and the couple putting their $5 million mansion up for sale will all be covered in Keeping Up with the Kardashians’ upcoming ninth season.

Divorce is never easy, even when it seems that it is the right thing to do. But when large amounts of money are involved, emotions tend to cloud the judgment. It is easy to lose oneself in the mentality of “winning” versus “losing.” One may become reluctant to agree to anything out of sheer spite. A good way to avoid this kind of counterproductive thinking is to enter into a prenuptial agreement before getting married. If the time for that has come and gone, it is important to properly evaluate the worth of your assets before entering into divorce proceedings.

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