Why Marital Asset Valuation Matters

Property division is typically the most complicated issue in a divorce. And, while it can be relatively straightforward to place a value on vehicles, a home, and other assets, it can be difficult to value others. And, without a fair valuation, you might agree to a settlement that isn’t fair, especially when you consider the long-term implications of your financial situation following divorce.

In this article, we’ll discuss:

  • How marital property is divided in Illinois;
  • How to determine the value of complex assets; and
  • Other important considerations in marital asset valuation

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What’s in a Parenting Plan?

If you have minor children, you’re going to have a parenting plan as part of your divorce. However, not all parents understand what a parenting plan is going into their divorce. And, more importantly, not all parents understand what to expect as parenting plans are drafted, finalized, and implemented.

In this article, we explore the basics of all parenting plans, and what you can expect to find in them.

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Don’t Let Short-Term Thinking Impact Your Retirement After Divorce

When you first begin the divorce process, it’s difficult to think about the long-term implications of your decisions. You may want to litigate certain issues, or fight with your spouse over items or issues that, in the future, are inconsequential.

However, divorce is about more than just the money you have sitting in your bank account right now. In fact, your Illinois divorce will affect the money you have not only now, but in the future as well. Nowhere is this more apparent than in your retirement accounts.

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How to Make Modifications After Your Divorce

Your divorce is over and the judgment is entered. So, now what?

Now, you go about living your new life, until something happens. Perhaps you get a new job. Perhaps your ex-spouse gets a new job. Or, maybe one of your children’s needs change. And when any of these events happen, or any, relevant others, you need to return to court.

Making modifications after your divorce aren’t difficult, but you do need a good reason to make them. In this article, we explore some of the primary reasons why you’ll return to court to make modifications, as almost every couple will, and how the process works.

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So, What’s the Income Shares Model?

If you were divorced before July 1, 2017 or are still in the process of getting divorced, the income shares model of child support will apply to your case. And, while some are uncertain about the change, Illinois is the 40th state to adopt this model. As such, you can have confidence knowing that this model is in the best interest of both you, and your family.

In this article, we’ll give a basic overview of what the income shares model is about, how it works, and adjustments made to the model based on parenting time.

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My Spouse Won’t Sign the Divorce Papers – Now What?

There are complications that arise throughout divorce cases. However, few complications arise well before the case even starts. But in a select few cases, there are spouses who refuse to accept the divorce and try to refuse, even if the case appeared to be an uncontested divorce.

Don’t fret: Your spouse’s refusal to sign the papers doesn’t mean your case won’t proceed. Instead, you should focus on strategies both you and your Naperville divorce attorney can use to keep your case on track and without the speed bump your spouse can add to the process by refusing to sign.

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The 3 Biggest Financial Mistakes in Divorce

Most couples encounter two major issues in a divorce: parenting time and financials. Typically, parenting time is resolved well before the end of a case, leaving the property and debt division center stage.

There’s just one problem: the financial issues are what push many cases from settlement to litigation. In fact, the most significant mistakes couples make in negotiating a divorce are almost all related to financial issues. And, when pushed to the limit, financial issues can leave both you and your soon-to-be former spouse in a tough position once your divorce is over.

Read on to learn 3 of the most significant financial mistakes in divorce and what you can do to avoid making the same in your case.

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Divorce and the Discovery Process: What to Know

When you’re getting divorced, you need to know everything about your spouse. This includes assets, liabilities, and other, vital information that’s necessary to divide property like bank accounts, the marital residence, and more.

This is where a process called discovery comes in.

The discovery process typically begins soon after the divorce is filed. Below, we’ll discuss the various types of discovery that may be filed in your case, what you’re expected to provide, and other details you should know.

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Wage Garnishment and Child Support: What You Should Know

Child support is common in most Illinois divorces. If you are going to receive child support, there are two ways to do so:

  1. You can arrange for your spouse to pay you directly; or
  2. You can enter an order garnishing your former spouse’s wages and be paid through the state disbursement unit.

As you can imagine, wage garnishment is the most popular option because most couples who are divorced don’t get along or don’t want to coordinate to exchange child support payments each month. In this article, we discuss wage garnishment in greater detail to get you familiar with how it will work in your divorce case.

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5 Tips for Testifying at Your Hearing

It’s almost guaranteed that you’ll have to testify at some point in your divorce proceedings.

Most often, this occurs at your final court date, or “prove up.” During this court date, both you and your significant other will stand before the judge and testify to certain facts in your Judgment and Marital Settlement Agreement. Your attorney will ask you questions and, in most instances, you’ll answer either “yes” or “no.”

You may also be required to testify during discovery at a meeting called a deposition or before the judge if there is a hearing in your case on an issue during the divorce proceedings, such as child support or maintenance.

The issue with testifying isn’t that it’s difficult. In fact, the only problem is that most individuals don’t know how to testify because what they know comes from television or other, unrealistic sources.

Read on to learn what testifying in court actually requires and 5 tips to help you relax when it’s your turn to step up to the bench!

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