Posted on February 16, 2017 in Divorce

While some couples do start, own, and run their businesses together, not all join forces in the business world. Instead, some parties choose to go out and develop their own business, or they develop a business with other individuals outside of their marriage. Some even have businesses prior to marriage. These businesses are considered non-marital businesses. Yet being non-marital does not necessarily mean the business is safe from liquidation or division in divorce. Learn more about non-martial businesses and divorce with help from the following.

Non-Marital Businesses and the Marital Estate

Unless explicitly agreed upon in a legal document, such as a premarital or postmarital agreement, non-marital businesses are still presumed to be a part of the marital estate. This applies, even if the spouse is only paying themselves a salary out of their profits and reinvesting the rest back into the business. In some cases, stocks, dividends, profit disbursements, and other business-related assets or income may be included in the marital estate. An experienced divorce lawyer can examine your situation and assist you in determining what parts of a non-marital business may be considered marital assets, and which parts may be excluded.

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 Posted on February 14, 2017 in Child Custody

Every child deserves a healthy and loving relationship with both of their parents. Unfortunately, this does not always happen. In some cases, it is because one parent truly is a danger to the child, but in others, it is a situation brought on because a parent manipulates the child to pit them against the other parent. This latter issue, which is otherwise known as parental alienation, is often called a form of brainwashing by child experts - but is it also a form of abuse? The following explores further.

The Many Colors of Abuse

Abuse is most often thought of in the physical sense, but there are many other forms. One can be sexually abused, emotionally abused, or psychologically abused. Parental alienation - if considered a form of abuse - would be emotional and psychological abuse. This is because parental alienation attacks a child's emotional attachment to a parent, and it alters the way the child thinks and feels about their parent.

So is it Abuse?

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 Posted on February 09, 2017 in Divorce

Divorce is a highly complex legal process with numerous financial pitfalls. Some are minor in nature and may cost you little. Others could potentially lead to a significant depletion of your financial resources. Thankfully, there are ways you can mitigate the risks. The following information covers some of the most common financial mistakes made during divorce, and provides some tips on how you can potentially avoid them.

Failing Get All Financial Documents in Print

In today's day and age, most people use online banking, digital debt statements, and email notifications for important accounts. In fact, society has become so reliant on their digital access that few consider they might lose it while going through divorce. Unfortunately, this can and does happen far more frequently than most realize. Your spouse might change the password to your bank account, or they might lock you out of the family computer. So whatever you do, never rely on just digital copies of financial documents. Print them out instead.

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 Posted on February 07, 2017 in Divorce

Though money is one of the most common causes of divorce, it is not an issue that ends because of divorce. In fact, many couples find that their financial woes are just starting. To make matters worse, they must somehow find the time to manage the legal and financial aspects of their divorce while also coping with the emotional stress. It is no wonder so many find themselves overwhelmed! Combat this problem with help from the following information on the most common and complex divorce-related money issues.

Asset Division

Regardless of whether you have a little, or a lot, division of assets can be highly complex. This is because what was once intertwined must now be unraveled. Businesses, which may have been invested in by both spouses, must be valued and divided. Homes, vacation property, investment properties, and other real estate must be valued. Some may even have to be liquidated to ensure adequate division of their value. Then there are retirement and pension accounts, bank accounts, artwork, furniture, family heirlooms, and other possessions.

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 Posted on February 02, 2017 in Family Law

When parents divorce, they often wonder how their children will adjust, particularly when it comes to transitioning from living in one home to two. Thankfully, researchers have spent the last several years studying how divorce impacts children, and most find that children adjust best when they have a continued loving relationship with both parents. In fact, a recent study that found children could benefit from an overnight with dad at any age.

Toddlers and Infants Often the Greatest Concern

When still adjusting to the two-home living situation, it is not uncommon for a child to miss one parent while they are at the home of the other. Yet it is younger children - namely toddlers and infants - that parents become most concerned about. Many worry that the young child will struggle too much with switching homes, or that the mother-infant bond will somehow be damaged. The recent study found neither of these to be true, even in situations where the children were extremely young.

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 Posted on January 31, 2017 in Divorce

In divorce, nearly anything you say or do can be used against you. This rule also applies to your social media account. Unfortunately, far too many divorcees do not understand this and end up jeopardizing their case. Avoid making this same mistake by learning how to safely navigate social media during divorce.

No Engagement Means No Evidence

The most effective way to avoid any mining of your social media account is to simply not use it. Do not share photos. Do not post status updates or tweet. Instead, go completely "dark." Archaic as it might seem, and difficult as it might be to consider, it is literally the only way to ensure you do not unintentionally hand your spouse (and their attorney) easy evidence to use against you in court.

If You Must Post - Do So Carefully

Not everyone can stay offline. Some must use social media for their business. Others just cannot find a way to tear themselves away. In such situations, it is critical to ensure you carefully consider every single post. Assume that the worst will be said about everything you share. For example, sharing a photo of you and some friends having a glass of wine at dinner could be turned into accusations over your "heavy drinking" and how you expose your children to "dangerous situations." When in doubt, leave it out of your feed.

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 Posted on January 26, 2017 in Family Law

Most parents want to spend time with their children, even after divorce or separation. This may apply, even if the other parent seems unreliable or uninterested in the child's welfare. Unfortunately, dealing with such a parent can be a stressful situation for both you and your child. Further, any failure on your part to adhere to the parenting plan, or to make an effort to include the other parent, can land you in legal trouble. Protect your child's emotional well-being and your personal welfare when dealing with an unreliable co-parent by using the following co-parenting tips.

Keep the Other Parent Informed

Regardless of whether or not they seem interested in the things happening in your child's day-to-day life, it is important that you keep the unreliable parent informed. This is especially important if something major comes up, such as a move or health condition. Doing so protects you from potential legal consequences, which the unreliable parent may push for if they feel you have somehow slighted them. Unfair as it seems, they do have the right to do so, and they have the right to stay informed about your child (unless their parental rights have been terminated).

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 Posted on January 24, 2017 in Divorce

Divorce is more than just an emotionally complex situation; it is a process that can financially devastate anyone, including those with a high net worth. On one hand, those that have built a fortune could stand to lose more than half of their marital estate. This is because Illinois is considered an equitable distribution state, so assets are distributed "fairly" in divorce, not equally. On the other hand, you could have a spouse that tries to hide or deplete assets to keep a disadvantaged spouse in the dark. Either situation could have a significant impact on the financial future of one or both parties. Reduce your risk of experiencing such a fate and learn how to protect your assets in divorce with help from the following tips.

Collect Documentation and Store it Safely

Regardless of which side of the divorce you are on, it is critical that you gather as much documentation as you possibly can. Search for credit card bills, any information on retirement accounts, bank statements on any joint or individual accounts, and any other financial paperwork you can find. Make copies and then store them in a safe place. Oftentimes, these documents can disappear during divorce proceedings, and that can make for complications in your case. Alternatively, if you are struggling to obtain paperwork, talk to your attorney about doing a Discovery on your marital assets.

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 Posted on January 16, 2017 in Divorce

Divorce can be an expensive undertaking for anyone, but entrepreneurs and business owners are at an especially high risk for financial complications. Thankfully, divorce planning can (and often does) help mitigate this risk. Learn more about how you can effectively prepare for your divorce, and why an experienced divorce lawyer is critical in this process.

The Sooner the Better

Perhaps the most critical thing to know about preparing for divorce is that sooner is almost always better. Time is literally everything. You will need to track your finances, living expenses, and determine the overall value of your assets so you can plan appropriately for your potentially scaled-down lifestyle. The extra time also gives you and your attorney a bit longer to work on developing a strategy. That might mean waiting until the "right" time to file or knowing which assets you should keep and which ones you should sell.

Time can also be used to protect your assets. For example, your attorney will likely advise you to change your passwords, logins, and financial data. They can also help you understand the difference between asset protection and asset hiding/depreciation, which is illegal. Unfortunately, such situations are easy to fall into if you do not understand them - even more so if you happen to be desperate to save a business or your assets.

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 Posted on January 12, 2017 in Divorce

Before a couple's assets can be divided during divorce, every asset, debt, and financial obligation must be valued. Of course, if you are like most divorcees, you will automatically consider the larger things, such as your home, vehicle, businesses and bank accounts. Have you thought of everything, though? The following covers some of the most commonly forgotten assets, and explains how you can ensure you receive an accurate valuation of your marital estate.

Intellectual Property

Artists, inventors, authors, entrepreneurs, and other creative individuals do not typically consider their ideas assets. Yet they can be calculated into the marital estate. This may be especially important for ideas, inventions, or artwork that may increase in value. Unfortunately, determining the actual value of such assets can be difficult. As such, it is critical that divorcees with intellectual property seek experienced legal assistance.

Monies or Property Loaned to Others

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