Posted on August 21, 2024 in Finances and Divorce

Unfortunately, many people do not realize they have made serious tax missteps during their divorce until after the divorce is over.  Every extra dollar you pay in federal or state taxes and capital gains taxes is money your family will not have.  Determining tax implications to ensure you do not have to pay more than you must is essential. Divorce is emotionally draining and difficult for all those involved, even under the best of circumstances.

Taxes are likely the very last thing you are thinking about right now, yet at some point, taxes owed could become a significant financial burden.  The time to consider how to protect against an unexpectedly heavy tax burden is during the divorce. Speak to a knowledgeable Wheaton, IL divorce attorney from Andrew Cores Family Law Group, who can help you arrange your finances in the most tax-advantageous way possible.

Does the Timing of a Divorce Matter for Tax Purposes?

Most people considering a divorce do not think about which month to file to minimize taxes. Each spouse's specific financial situation will help determine what issues to consider when filing for divorce. Perhaps it will not make much of a difference either way, but it is important to remember that marital status as of December 31st determines how taxes are filed.

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 Posted on August 15, 2024 in Asset Division

Statistics indicate that divorce among business owners is between 43 and 48 percent, although that number increases when spouses own separate businesses. Since the divorce rate is hovering at around 42 percent across the nation right now, those numbers indicate that business owners may be slightly more likely to divorce. Divorce is difficult under most circumstances, but it can certainly be more problematic when complex issues are involved.

When a couple owns a business together and then decides to divorce, the decision of whether to continue operating the business together, split it, or sell it can add another layer of complexity to an already tense situation. If the business is important to both spouses on a financial and even emotional level, it can be tough to decide how to proceed.

If you are considering divorce and you and your spouse have a thriving business together, it is essential that you speak to a knowledgeable divorce lawyer with experience in business valuation and division. When you choose a Wheaton, IL complex asset divorce attorney from Andrew Cores Family Law Group, you have taken an important first step toward a positive resolution.

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 Posted on August 09, 2024 in Child Custody

Once the allocation of parental responsibility is addressed during the custody portion of an Illinois divorce, a parenting plan must be created and agreed upon by both parties. While some parenting agreements are very basic, others are much more specific and unique. Your parenting plan can be as simple or complex as you want it to be, so long as it fits your family's needs and the judge finds it to be in the best interests of the child.

Whether the issue concerns discipline, religious upbringing, dietary choices, or participation in sports or high-risk activities, all must be settled and put into a parenting plan. Family law issues are often emotional, so having a highly skilled Wheaton, IL, child custody attorney as your advocate can help determine a mutually acceptable outcome.  

What is a Parenting Plan?

In Illinois, a document detailing who will make decisions for a child and how those decisions will be made is often prepared during the allocation of parental responsibilities. A parenting plan must include where the child will primarily live, the time the child will spend with each parent, how pick-ups and drop-offs will be handled, and how each parent will acquire information and records about the child. Each parent must file a parenting plan within 120 days of asking the court to allocate parental responsibilities.

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 Posted on August 05, 2024 in Divorce

No-fault divorce—first legalized by California Governor Ronald Reagan in 1969—is now an option in all 50 states, with New York being the last state to implement no-fault divorce in 2010. Prior to no-fault divorce, the spouse filing for divorce had to claim a "fault" on the part of their spouse for the divorce to move forward. These fault-based grounds for divorce usually included infidelity, abandonment, mental or physical cruelty, drug or alcohol addiction, bigamy, sterility, neglect, infection with a sexually transmitted disease, and more.

Conservatives have often claimed no-fault divorce is a danger to traditional American family values. In fact, in 2016, House Speaker Mike Johnson claimed no-fault divorce had turned the U.S. into a "completely amoral society." Contrarily, many people—including divorce attorneys—see no-fault divorce as a common-sense path to divorce that reduces some of the burdens on couples and divorce courts.  

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 Posted on July 30, 2024 in Prenuptial and Postnuptial Agreements

Although prenuptial agreements were once considered only for the super-wealthy, today, more and more couples are having them drawn up—especially couples for whom this is not their first marriage. In fact, about half of all U.S. adults say they are open to signing a prenuptial agreement, although only 20 percent of married couples currently have one. Younger couples, in particular, are more likely to have a prenuptial agreement (47 percent).

Since financial issues can be a contentious issue during marriage—and one of the top reasons for divorce—it stands to reason that finances will also be a contentious issue during a divorce. Whether you are considering a prenuptial agreement, are divorcing and have a prenuptial agreement, or believe your prenuptial agreement should be nullified, you need an experienced Wheaton, IL prenuptial agreement lawyer who can help you sort out the details.

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 Posted on July 24, 2024 in Child Custody

Child custody issues and the determination of parental responsibilities can be like landmines that parents must navigate to arrive at solutions that are in the best interests of the child. Perhaps you and your ex have come through the child custody issues with a parenting plan you can both live with. Then, out of the blue, your ex informs you they have decided to homeschool your child or children. You may have serious doubts about the advisability of such a decision.

Maybe you do not think your child will receive a well-rounded education in a homeschooling situation, or maybe you doubt your ex’s ability to teach the subjects you feel your child needs to learn. You may be more concerned about the social aspect of homeschooling or the lack of extracurricular activities. Whatever your concerns, this decision may come down to the custody agreement and division of parental responsibilities you have with your ex. An experienced family law attorney from Andrew Cores Family Law Group can answer your questions and guide you through the process of challenging a homeschooling decision by your ex.

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 Posted on July 19, 2024 in Child Custody

Grandparents often play an essential role in their grandchildren's lives. Most of us have fond memories of spending quality time with grandparents who loved and supported us unconditionally. Unfortunately, a child's relationship with his or her grandparents can become tenuous when the child’s parents divorce and a contentious child custody case begins.

Despite the emotional connection many grandparents enjoy with their grandchild, a court order may become necessary if the child’s parents prohibit a continuing relationship. Having an experienced Wheaton child custody lawyer answer questions and fight for grandparent visitation rights can significantly affect the outcome.

Are the Rights of Grandparents Limited in Illinois?

Under current Illinois law, grandparent visitation rights are limited, based on the presumption that parents are best suited to make decisions regarding their children. As with all decisions made on behalf of a child during an Illinois custody case, the best interests of the child will be the primary consideration when a judge decides whether grandparents should have visitation rights.

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 Posted on July 12, 2024 in Child Custody

People who have children at a young age often find that their child’s other parent is not the person they want to spend the rest of their life with. Sometimes the young parents are able to maintain a friendly co-parenting relationship even as they go their separate ways. Sometimes, the split is not so amicable, especially in cases where there is a significant age gap or power imbalance between the mother and father. Young parents often have a different set of concerns than older parents who are already established in their careers and experienced in managing a household. Parents who are young adults need an experienced DuPage County, IL parenting plans attorney to help them create a successful co-parenting arrangement that is tailored to their individual needs.

What Young Parents Should Consider While Making a Parenting Plan

A few special considerations that might affect young co-parents include:

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 Posted on July 08, 2024 in Asset Division

Some types of marital property cannot be divided easily or at all, especially in high-asset divorce. In other cases, assigning ownership of a marital asset to one spouse or the other could be detrimental to both of you, especially when the asset is profitable, and you have shared in the responsibility of managing it. Of course, keeping certain assets designated as joint property after divorce is likely to work better if you and your spouse have a civil relationship. There are also cases where continuing to share ownership of an asset is simply in both of your best interests. Deciding to share an asset even after a divorce can work well for you and your children. However, you need a knowledgeable DuPage County, IL divorce attorney to help facilitate this type of arrangement.

Types of Marital Property You May Want to Keep as Joint Property

Some types of marital property lend themselves to remaining joint assets after divorce quite well. Marital assets you may want to consider not completely dividing in divorce include: 

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 Posted on July 05, 2024 in Collaborative Law

When you and your spouse decide that you would be better off as friends than as a married couple, your divorce will probably be quite amicable. You can expect little fighting and none of the pettiness that is often seen in more contentious divorce cases. You will probably be able to compromise readily. However, you could both still benefit from being represented by a DuPage County, IL divorce attorney as you go through the alternative dispute resolution process. Amicable spouses may be too ready to give up things that are important to them for the sake of keeping the peace. A lawyer can help you stand up for yourself and your wishes.

Why You Need a Lawyer During an Amicable Divorce

Just because you and your spouse have a friendly relationship does not mean that you are guaranteed a fair deal in your divorce if you go without counsel. Ways an attorney can help you through your amicable divorce include: 

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