Category Archives: Asset Division Lawyers
What If My Ex Hides Income During Illinois Divorce Proceedings?
When a marriage ends, financial transparency is not optional. Illinois law requires both parties to provide full and accurate disclosures so the court can make fair decisions about property division, child support, and maintenance. When one spouse hides income, it can directly affect the outcome of your case and lead to unfair obligations or… Read More »
Can Your Ex Claim Your Pension? The Illinois Law That Surprises Many Married Couples
Many people are shocked to learn that a pension earned during a marriage is often considered marital property under Illinois law. I frequently meet clients who assume their pension is protected simply because the account is in their name or tied to their employment. Unfortunately, the law works differently. Illinois follows an equitable distribution… Read More »
How Is Asset Division Decided In Illinois?
U.S. states follow either of two approaches when it comes to in a divorce settlement; namely the equitable distribution method and the community approach. However, most states such as Illinois prefer fair equitable division. While it is fair, it doesn’t necessarily mean it’s equal. Asset Division in Illinois Rather than dividing marital property straight… Read More »
Business Division in a Divorce
Many businesspeople presume that they are the sole owners of their business and assets, however, the law may think otherwise in case of a divorce between couples. It is evident by a controversial divorce case in 2016, Rupert Murdoch paid her wife Anna Murdoch a gigantic amount of $1,700 million in divorce settlement. In… Read More »
Property Division in a Divorce
After child custody, property division is the second most common issues which is a major bone of contention between couples undergoing divorce. Most states practice a community property system where all the assets and debts of the couple are divided equally regardless of each spouses’ individual share of those assets or debts. Although in… Read More »
Understanding Asset Division in Divorce
Divorce is not something couples think about when they make the decision to spend their life together. Unfortunately, when things turn sour and the hard choice to get a divorce lurks around, the best thing to do is prepare for a divorce by consulting a divorce lawyer. The Commingling and the Prenuptial Agreement Both… Read More »