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Spousal Support Attorneys Chicago – Alimony Lawyers Illinois

How Marital Estates Are Evaluated. Tips For A Productive Divorce Attorney Client Relationship. Illinois is an equitable distribution state, meaning that properties and debts obtained throughout the marriage are divided according to principles of fairness — not necessarily by a 50/50 split. Laws regarding financial protection vary from country to country and may be very confusing for those without the necessary legal assistance. While the attorneys at Serrano Hanson can offer a basic overview, each situation is unique, and it is important to consult with a knowledgeable divorce attorney to ensure that you understand what to expect in your own divorce proceedings. International Asset Division Lawyers in DuPage County. In most cases, you'll need to hire a lawyer if you want to ensure that your divorce is as smooth as possible and everything is officially resolved. The respective earning capacities of each spouse. Illinois is an equitable distribution state. Divorce Lawyer Advising Clients throughout Chicago and the Northwest Suburbs. Due to its breadth, property division can be a very complex and overwhelming aspect for many couples considering divorce. Even if a pre-nuptial agreement was executed prior to your marriage, legal and financial issues relating to property division may still arise.

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The court may deviate from the guidelines, however, when it finds that the application of the guidelines would be inappropriate, after consideration of the following factors: - The financial resources and needs of the child. Preparing for your court date. Physical and emotional health of both spouses. Can you give an example of someone you helped with an alimony matter? Legal fees for helping with the divorce can vary significantly depending on the length of the divorce, how complicated the separation is, and several other factors. As such, it will be included in the equitable distribution agreement. Tax implications property division has upon both spouses.

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Chicago, Illinois Divorce Lawyers in Serving Cook County, IL, and the Surrounding Areas From Our Rolling Meadows Office LocationIf you are going through a divorce in Chicago, Illinois, it is important that you seek educated and compassionate representation. Resolving family law concerns and addressing the legal issues involved in the divorce process can be a complex matter, no matter where you live. For instance, some couples are electing to continue to own the family home together until the market improves, and this may coincide with the parties' interests in maintaining a familiar environment for the children during this difficult time. There are many factors that the court considers when determining what is equitable. The respective ages of the spouses. Suppose you feel that your rights and property, as well as your ability to maintain a relationship with your children, are not being fairly represented in your divorce.

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Or the division of assets may be structured in a manner to allow one ex-spouse to maintain the family home as his or her own property following the divorce. Our team of Chicago family lawyers has the resources and insight to protect the integrity of the property division process and ensure that the court is thoroughly informed of what our clients should receive in a fair and equitable division. Maintenance/Alimony - Spousal maintenance (formerly referred to as alimony) is used to enable a divorcing spouse to gain training or to maintain a balanced standard of living until he or she becomes self-supporting following a divorce. Family Law and Divorce at the Daley Center in Chicago. The exact amount depends on multiple factors, such as age & health of both parties, marriage duration, exceptional extra expenses for children (such as schooling and daycare), and the marital property's equitable distribution. The value of the property set aside to each spouse. Formula for Maintenance: Amount – (30% of the payer's income) – (20% of the receiver's income). We all know that a divorce is a difficult matter.

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Whether it would be beneficial for the custodial parent (that is, the parent who will have a larger amount of parenting time) to maintain ownership of the family home. Everyone has been extremely helpful on my case. I recommend this firm to anyone seeking legal guidance, support, or service!! They were very responsive and timely and provided tremendous communication through every step in the process. You may have to demonstrate this to a judge by explaining how the marriage has broken down, or, you may be able to file for a no-fault divorce after separating for six months or more. Our team has handled a broad range of legal matters related to dividing marital property, including complex high net worth divorce settlements. Property division in divorce can be further complicated by child custody, child support payments, and spousal support issues. We are committed to providing you high-quality service and focus you deserve. In such events, our lawyers assist you in modifying or terminating the child support, alimony, or custody order through the court. I'd highly recommend him to others! Division of Marital Property in Illinois. But don't fret- a specialized Chicago family law attorney from Petrelli Previtera law firm will hold your hand through the legal processes.

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Illinois law looks to best interests standard in determining the allocation of parenting time. If you are a business owner, if you and/or your spouse is executive who is well compensated with stock options and retirement benefits, or if you have a complex family estate, you will need the expertise of attorneys who are experienced in analyzing business valuations, executive compensation, and complex estate plans/trusts in the context of divorce. Child Support: Separation can take a toll on family finances. Our professionals handle every case with professionalism, top-in-class skills, and dedication.

You are thinking of filing for divorce or the process is already underway. Yes, pursuant to the statute, if the party receiving maintenance gets remarried (or cohabitates), maintenance terminates. During the equitable division of marital assets, all marital property will be divided between spouses in "just proportions. " Income derived from non-marital assets. An equitable property distribution in an Illinois divorce is complex. Often times there is credit card debt, car loans, mortgages, student loans… etc. An emergency order of protection is available for situations that involve domestic violence of if you fear for you safety or the safety of your children. Not only them but the entire staff are a delight to work with. If an amicable solution cannot be reached outside of court, then we can help you determine whether it will be necessary to take your case to trial. However, this is not always how things work out, and Illinois law does not require an equal division. This means that any assumptions about an easy 50/50 split of your marital property are likely inaccurate.

Normally, the mother of the child initiates a paternity case to obtain child financial support from the father. Moreover, conditions surrounding child allocation, child support, and spousal maintenance may also play a role in determining the division of property. There are no children of the marriage and the wife is not pregnant. Spousal Maintenance for High Net Worth Divorces. There are numerous tactics spouses use in these types of cases. Determining the overall equity of all assets and debts from your marriage affects every area of your divorce. Will I be allowed to meet or negotiate with my spouse?

If your partner lives in a different state than yours; then jurisdictional issues may arise. Matters such as the value of businesses, real estate property, and antiques and other collectibles are factors to consider when making decisions about how property should be divided between spouses. The easiest way to accomplish this task is through negotiation. Divorce Attorneys Who Look At Every Angle. There will need to be a proper valuation of the assets of both parties in a high net worth divorce, and the more assets a couple has means more expertise and time will be required to determine their values and also that there is more likely to be disputes over the values of the assets. Having to give up property that you have worked hard to own or that you have become accustomed to having can be frustrating, and may have such a financial impact on your life that you are forced to make significant changes, or lose out on financial opportunities. Interpreting family laws can be a hectic process. As stated in the Illinois Marriage and Dissolution of Marriage Act, marital property refers to any property obtained by either spouse after their marriage.

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