Parents who get divorced have a much greater number of issues to contend with than non-parents. In addition to dividing marital property, figuring out who will keep the marital home, addressing spousal maintenance, and other divorce concerns, parents must also address child custody issues.

If you are getting a divorce in Illinois and you share children with your soon-to-be-ex-spouse, it is important to understand exactly what is expected of you. Parents are asked to create a parenting plan that divides parenting time and parental responsibilities. The plan also addresses important parental rights and obligations. Read on to learn about parenting plans in Illinois and what you should do if you need help with your Illinois parenting plan.

In many Illinois divorce cases, especially those in which the couple has a high net worth, business assets are divided along with the rest of the spouses’ marital property. However, there are often complications when it comes to business property division, starting with the determination of whether a business is, in fact, a marital asset. If you are a business owner, it is important to understand the difference between non-marital and marital business assets as you prepare for your divorce.

Non-Marital Business Assets

In a divorce case, non-marital assets are those that are owned by each spouse individually. These assets do not have to be divided; rather, they will remain with the spouse who owns them. A business will likely qualify as a non-marital asset if one of the following is true:

Besides being emotionally draining, getting divorced can take a significant toll on a couple’s finances. Fortunately, there are steps that divorcing parties can take to reduce their post-divorce finance-related concerns. Most couples are, for instance, urged to immediately begin accounting for their assets and expenses, both to ensure that any property settlements are fair, but also to help uncover any evidence of marital waste or fraud on the part of one of the spouses. To learn more about the financial aspects of divorce, please reach out to one of our experienced DuPage County divorce lawyers today.

Inventory Bank Accounts

Property division is one of the most difficult aspects of many divorces, especially for couples who have unique or valuable assets. One of the best ways to avoid an unfair property settlement and later financial stress (upon divorce) is for couples to start compiling their financial information, including all bank, retirement, and investment accounts. The parties should be sure to keep copies of important documentation, like bank statements that can help keep track of both individuals’ balances, regular deposits, and withdrawals. Re-inventorying these accounts regularly during divorce proceedings is also a good idea and can go a long way towards safeguarding assets and preventing marital waste.

If you are going through a divorce, you likely have a lot of questions. It is critical to receive the answers you need so you fully understand the process and can better protect your rights. Below are some of the most frequently asked questions about family law in Illinois, and the answers to them.

Is a Legal Separation Required?

Unlike some states, Illinois does not place a mandatory separation period on couples before they can file for divorce. If one party does not agree to the divorce, you may have to live separate and apart from your spouse. This does not necessarily mean that you have to live under separate roofs. You simply must show that you have lived independently from your spouse.

Divorce is not only an emotional process, but it is also a legal one governed by many laws and procedural rules. People going through issues such as child custody, property division, and more are often not aware of how the legal process works and so, they make mistakes that end up hurting their case. To ensure you receive the fair settlement you deserve, read the most common mistakes made below, and how to avoid them.

Choosing the Wrong Kind of Divorce

Many people think that to get a divorce, they must enter litigation and go to trial. While this is sometimes the only option, it is not the first one you should consider. Litigated divorces take much longer, are more costly, and a judge may not return a decision in your favor. Options such as collaborative law and mediation allow you and your spouse to control the process, which can reduce the stress of the process and still help you recover a fair settlement.