In a previous article, “Divorce Mediation”, we discussed the general process of divorce mediation. There are several reasons why you should consider divorce mediation over the traditional court process. Here are some of the potential benefits of choosing mediation: Greater…
Divorce mediation is a process in which a neutral third party, called a mediator, helps two people who are getting divorced to come to an agreement about the terms of their divorce. Mediation is voluntary, and both parties must agree…
In our previous article we discussed how to decide if having a Prenuptial Agreement is right for you. Once you determine that a prenuptial agreement ("prenup") is warranted in your situation, you need to decide what issues to include in…
In our previous article, we discussed What is a Prenuptial Agreement? and why increasing numbers of couples are opting to sign these agreements. Now that you know some of the reasons why a prenuptial agreement ("prenup") can be so important, you…
A prenuptial agreement ("prenup") is a written contract between two people who are about to marry. It sets out the terms of ownership and control of the parties’ existing, as well as future, assets and debts, earnings during the marriage,…
Most people who have been through a divorce, which may include issues regarding the division of assets and liabilities, basis for the divorce and the support/visitation of children, will tell you that the process can be long, stressful and costly.…
Recent amendments to the Illinois divorce laws, which went into effect January 1, 2016, aim to simplify and expedite the divorce process. The following are the highlights of the new laws: 1. Elimination of grounds for divorce - only irreconcilable…
When you own a business, you are always thinking about protecting your business from situations that damage its profitability and long term success. Many business owners have prepared for business-related problems, but haven’t considered the effect of a divorce on…
The current IMDMA which governs divorce laws has been in effect since 1977. On July 21, 2015, Governor Rauner approved Senate Bill 57, which updates the act and will become effective beginning January 1, 2016. Some of the act’s major…
Bankruptcy While Married One spouse may file for bankruptcy without the other but in most cases both spouses’ incomes are counted toward determining eligibility to pass an income test. If one spouse files for bankruptcy, the other spouse’s credit will…