You might think that the bank account held solely in your name is yours and yours alone, especially if you’ve maintained it separately from any joint accounts. However, in the context of an Illinois divorce, that assumption is usually incorrect. Your separate bank account is still probably part of your marital estate. How the […]
Divorce involves dividing assets, and retirement accounts frequently fall into this category. Determining how to fairly allocate these accounts in Illinois requires careful attention to state law and federal regulations. This post will explain how retirement accounts are typically handled in Illinois divorce cases and the importance of obtaining proper legal counsel to protect your […]
The family home often holds significant emotional and financial value, making its division one of the most challenging aspects of divorce. In Illinois, several strategies can be employed to address this issue, each with its own set of considerations. Understanding these options and how they align with different divorce approaches is essential for reaching a […]
Divorce involves many complexities, and one of the most fundamental is the division of assets and debts. In Illinois, achieving a fair and equitable outcome depends heavily on financial transparency. This means both spouses must be open and honest about their income, assets, debts, and expenses. What Is Financial Transparency? Financial transparency in divorce […]
Divorce inevitably involves untangling your finances, and being organized from the outset can save you time, stress, and potential disputes. Gathering your financial information is a crucial first step, whether you’re pursuing an uncontested, negotiated, or collaborative divorce. This divorce financial checklist will guide you through the process of collecting the necessary documents for your […]
Divorce can be messy, especially when it comes to dividing your belongings. You might think splitting everything down the middle is the “fairest” solution or that you deserve more than your soon-to-be-ex, but Illinois law takes a different approach. The courts apply the concept of equity when dividing property in an Illinois divorce. So, […]
Going through a divorce is stressful enough, let alone worrying about hefty legal fees. At Flat Fee Divorce Solutions, I understand the financial challenges that come with separation. That’s why I offer affordable flat-fee pricing for uncontested cases. However, even with flat fees, navigating your divorce’s financial side can be daunting and sometimes you have […]
Divorce is not only emotionally draining, but it can also be a significant financial burden. Legal fees, court costs, and the division of assets can quickly add up. The good news? There are smart steps you can take to minimize the financial strain of your divorce in O’Fallon, Illinois. Here’s your roadmap to a more […]
Divorce can be a complex process, especially when it comes to dividing marital assets and debts. Illinois, like many states, operates under a system called “equitable distribution.” This means the court prioritizes fairness over equality when determining how marital property and liabilities will be allocated. Here is why “fair might not mean equal.” What […]
Divorce is a life-altering event that can significantly impact your financial future, especially your hard-earned retirement savings. In Illinois, the equitable distribution law dictates that assets are divided fairly, which doesn’t always mean a 50/50 split. This can leave your retirement accounts vulnerable, but with proactive planning and the right strategies, you can protect your […]
