If you own a business, it is likely one of your most valued properties, if not the property that is the most important to you. A business represents the investment of time, money, and effort, and it is often crucial to your ability to support yourself. As such, the thought of something happening to your business in a divorce can be extremely concerning. However, if you thoroughly prepare for the divorce process, you can effectively address many of the issues that often affect business owners.

How Does a Business Affect the Divorce Process?

Illinois business owners should be well informed about all of the following issues that may arise during their divorce:

• Marital and non-marital property - Illinois law defines what qualifies as marital property, which belongs to the couple and must be divided in a divorce, and non-marital property, which belongs to each spouse individually. Business owners should determine whether their business qualifies as a non-marital asset, perhaps because they owned it before the marriage or inherited it from a family member, or because they have a prenuptial agreement that excludes the business from the marital estate.
• Business valuation and division - When a business qualifies as a marital asset, it is important to determine an accurate valuation before deciding how to address it in the division of marital property. A business can be valued based on its assets, income, or market value. Options for dividing a business in divorce include selling it and dividing the proceeds, distributing ownership shares, or having one spouse buy out the other.
• Spousal maintenance - Business owners who want to retain full ownership of their business will often need to compensate their spouse in other ways. One common option is spousal maintenance, otherwise known as alimony or spousal support, through which one spouse makes regular payments to the other for a defined time period.
• Child support - Business owners with young children will be required to contribute to child support after a divorce. Since Illinois child support obligations are calculated based on each parent’s income, business owners often face additional challenges when it comes to demonstrating the monthly income that their business brings in.

Contact a DuPage County Divorce Lawyer

If you need help protecting your business assets during your divorce, Mevorah & Giglio Law Offices can provide it. We have extensive experience representing clients throughout all aspects of the divorce process, and we will work to ensure a fair resolution in your case. Contact a Lombard, IL family law attorney today for a free consultation by calling 630-932-9100.

Just like every couple, every divorce is unique. Some couples struggle to make it through the proceedings without arguing over every subject, while others manage to work together to create their divorce agreement. The way that the divorce proceedings are handled is not necessarily reflective of the quality of the divorcing couple’s relationship, but more telling of their communication skills. Divorce is bound to be an emotional and difficult life experience to go through and everyone responds to these feelings in their own way. Not all divorces require court intervention, and there are a few alternative dispute resolution options available to you and your spouse if you are planning on divorcing.

Divorce Mediation

Some divorcing couples have excellent communication skills and think it would be best to work together to create their divorce agreement. For those who are able to compromise when necessary and work through any disputes without court intervention, divorce mediation may be a good option. In mediation, a couple creates a divorce agreement with the help of a third-party mediator. The mediator does not act as either party’s attorney or legal representative, though many mediators are also attorneys. This neutral third party will provide suggestions to the couple and keep them on task, resolving any minor disagreements that may arise throughout the process. Mediation allows the couple to have complete control over their divorce agreement, including any determinations regarding property division, spousal maintenance payments, child custody arrangements, and more.

Collaborative Divorce

This is the another common type of divorce proceeding that couples pursue, allowing each spouse to have their own legal representative while still negotiating with their former spouse. In a collaborative divorce, the spouses will meet with their prospective attorneys, outside of court, to come to a settlement on the various terms of their divorce agreement. This type of divorce ensures that each party’s needs are being advocated for by their own attorney while also keeping the decisions out of the hands of a judge. Divorce mediation can sometimes lead to one spouse taking advantage of the other by suggesting terms that they know are unfair or by using their relationship dynamic, with one spouse holding more decision-making authority than the other, for their benefit. Collaborative divorce avoids these possibilities, though the spouses may be best to seek an alternative route if they are still unable to come up with a settlement on their agreement.

Similar to other kinds of losses, a divorce never looks or feels exactly the same for every person. We all grieve and process that grief differently, and because the divorce experience can vary in complexity depending on the circumstances of a given relationship, the journey can be especially unique and challenging to navigate. Emotional setbacks throughout a divorce are common and to be expected, regardless of your circumstances. The key to having victory over those setbacks and keeping them from controlling you begins with having coping strategies in your arsenal when times get tough.

Conquering the Tide of Discouragement

Thankfully, there have been countless studies on the psychological ramifications of divorce and the most effective ways to manage the stress, disappointment, and setbacks they entail. Psychologists recommend the following to heal, stay positive, and move forward, despite the emotional roadblocks you may experience along the way:

1. Stop Beating Yourself Up - Whether you lose your temper in front of your children, snap at your ex-spouse, or are struggling with a depressed mood, it is important to be patient with yourself and remember that you will have good days and bad days as you adjust to the effects of divorce. Make self-care a priority: Eat well, get enough sleep, and exercise daily. Avoid ruminating on your mistakes, which hold you hostage in the past. If you are stuck in a negative thought cycle where you are continually punishing yourself, speak with a counselor or other mental health professional who can help equip you with the tools you need to break this counterproductive pattern of thinking.

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Divorce is often viewed as a tumultuous process, but this is not always the case. In fact, some couples still value their bond and prefer to end things peacefully. Others recognize that fighting increases the financial and emotional costs for everyone involved. In these situations, parties may opt to pursue alternative dispute resolution over a litigated divorce. However, this path may not be right for every couple, and litigation may be the only way to successfully finalize a divorce.

Mediation or Litigation?

If you are considering using mediation during your divorce, it is important to know that victims of any form of abuse (mental, physical, or financial) are generally encouraged to lean towards litigation instead, as it tends to offer greater protection throughout the divorce process. Litigation is also preferred when there is suspicion of hidden assets. However, contention or disputes between the parties do not mean that a couple cannot pursue alternative dispute resolution; if anything, this particular divorce path may offer some benefits for couples, as long as both parties are at willing to bring their concerns and disagreements to the table in a civil manner. Both parties are encouraged to work together and reach a compromise on sensitive matters, like the division of assets and the creation of a parenting plan. The goal is to make sure that each party walks away with at least some of what they want and a fair portion of what they deserve.

Points to Consider When Determining Whether Mediation Is the Right Solution for Your Divorce

You should ask yourself the following questions when trying to determine which path is best for you:

Whether you find yourself in the early stages of the divorce process, have just recently made the mutual decision with your spouse to end your marriage, or are in the middle of litigation proceedings, divorce-related stress can be all-consuming. The difficult decision to say goodbye to your marriage can quickly take a toll on you emotionally, mentally, and even physically. Familiarizing yourself with healthy, constructive coping skills is crucial to manage divorce stress and keep it from negatively affecting your health in both the short and long term.

Key Coping Skills for Managing Stress

Even couples who divorce amicably and civilly must work at balancing the emotional effects of such a big life change. Keep the following tips in mind to better cope with common divorce anxieties:

1. Put yourself first - Chances are, you have heard self-help experts stress the value and importance of self-care during times of major life changes, including divorce. These recommendations exist for a reason — they work. Mental health experts remind us that maintaining our routines as much as possible is actually a part of self-care, particularly when it comes to maintaining daily exercise, sleep patterns, or lunch dates with friends. Another way to make self-care a priority is to give yourself permission to take breaks, invest your time and energy in activities that bring you joy, and share your time with others, such as involving yourself in a volunteer effort.

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