Calabrese Associates, P.C.

Call Us630-393-3111

4200 Cantera Drive, Suite 200 | Warrenville, IL 60555

Subscribe to this list via RSS Blog posts tagged in Naperville divorce lawyer

naperville divorce lawyerA divorce can become even more complicated and stressful if you and your spouse have a high net worth. If you are thinking about getting a divorce and you or your spouse own high-value or complex assets, it is critical to have a skilled Illinois divorce attorney on your side.

Different Ways a High Net Worth Makes Your Illinois Divorce More Difficult

If you and your spouse are wealthy, you can expect your divorce to have more complexities than a traditional divorce. Here are a few ways the process may be more complicated than a typical divorce.

  • Divorce proceedings may last longer. If you and your spouse have more assets than the average married couple, it stands to reason that it will take more time to divide them. 

    ...

Wheaton divorce lawyerFamilies commonly move to new homes for a variety of reasons, including when a parent is pursuing employment opportunities or because a person wants to live closer to their extended family members. Moving is a decision that married couples or unmarried partners make together. However, it can become more complicated for divorced parents or unmarried parents who do not live together. One parent’s choice to move could affect the other parent’s ability to spend time with the couple’s children, especially if they plan to move a significant distance away from where they currently live. In these situations, a parent may need to request a parental relocation officially. The case may need to be heard in family court, where a judge will decide whether to allow the move and determine how to modify the couple’s parenting plan.

Factors Considered in Parental Relocation Cases

When a parent plans to move, and they have the majority of the parenting time with their children or an equal amount of parenting time as the other parent, they must notify the other parent at least 60 days before the date they will be moving. For parents who live in DuPage County or other nearby counties, moving at least 25 miles away from their current home will be considered parental relocation. If the other parent objects to the move, the parent who is planning to move must file a petition in family court asking for permission to relocate.

A family court judge will consider the following factors to determine whether allowing a relocation and modifying a couple’s parenting plan will be in the child’s best interests:

...

DuPage County family law attorneyIn many modern marriages, prenuptial agreements are used to provide spouses with protection and make decisions about how certain issues will be addressed if the couple chooses to get a divorce. A prenup can make sure spouses can continue to own certain types of property after their divorce, or it can decide whether a spouse will receive spousal maintenance. A properly executed prenuptial agreement can help spouses avoid uncertainty during their divorce and make sure their financial interests will be protected. However, if disputes arise about the terms of a prenup, spouses should be aware that there are certain issues that may cause an agreement to be invalid.

Enforceability of Prenuptial Agreements

When a couple signs a prenup before getting married, this indicates that they both understand the terms of the agreement and are satisfied with the decisions made. However, disputes can sometimes arise during a divorce in which a spouse may claim that the agreement should not be enforced. When these types of disputes are addressed through litigation, there are only a few reasons why a prenup may be found to be invalid. These include:

  • The agreement was not executed correctly - Both parties must sign a prenuptial agreement before getting married. If one spouse did not sign the agreement, or if it was signed after the date of the couple’s marriage, it may not be valid.

    ...

Naperville IL divorce lawyerSpouses need to address many different types of legal and financial matters when getting divorced, and attempting to understand the laws that apply to them and the terminology used in their case can sometimes be overwhelming. Spouses who own assets such as retirement accounts or pensions may have heard that they should use a qualified domestic relations order (QDRO). By understanding what this type of order covers and when it should be used, spouses can make sure they will be able to divide their marital assets correctly while addressing any related financial issues.

Using a QDRO to Divide Retirement Assets

All assets acquired by spouses during their marriage will need to be fairly and equitably divided during the divorce process. In addition to physical property, assets may include retirement savings or benefits that may not be accessible by the spouses at the time of their divorce. Contributions made by a spouse to a retirement savings account or pension benefits that a person earned while married may need to be divided either at the time of divorce or in the future.

Typically, the administrator of a qualified retirement plan that is covered by the Employee Retirement Income Security Act (ERISA) can only pay benefits to the person participating in the plan. A QDRO will allow benefits to be paid to an alternate payee. This order will provide instructions to the plan administrator stating that either a specific monetary amount or a percentage of benefits should be paid to a person’s ex-spouse.

...

DuPage County family law attorneyIf you are a parent who is getting divorced, issues related to your children will be some of the most important matters that you will need to resolve. As you work to negotiate a divorce settlement with your spouse, you will create a parenting plan that fully details all decisions related to the allocation of parental responsibilities (child custody) and parenting time (visitation). The determination of how you and your spouse will divide the time that your children will spend in each of your homes will affect many other issues in your case, so you will want to make sure you have addressed this issue properly and made arrangements that will provide for your children’s best interests.

Common Parenting Time Arrangements

There are a multitude of different ways that parents can divide parenting time. When making these decisions, parents should consider the roles that they have played when caring for their children in the past, the feasibility of a proposed schedule, and how they can maintain consistency for their children and work together as co-parents to meet their needs. Some common ways of dividing parenting time include:

  • 50/50 schedules - If both parents have played equal roles in raising their children and providing daily child care, they may be able to maintain these roles by creating a schedule in which they will each have equal amounts of time with the children. In these cases, parents will need to make sure arrangements are in place for transporting children to and from school or daycare, and they will both need to have time in their work schedules to care for their children on a daily basis and on weekends. Parents may use a 2/2/3 schedule in which children stay at each parent’s home for two days during the week while alternating three-day weekends between parents, or they may alternate weeks with each parent or use other arrangements for sharing equal amounts of parenting time.

    ...

DuPage County postnuptial agreement lawyerMost people are familiar with prenuptial agreements that may be signed before a couple gets married. While these agreements can be especially beneficial in situations where one or both spouses own substantial assets before they get married, a prenup can help any couple decide how they will handle certain matters if they ever get divorced. However, what many people may not know is that these types of agreements can also be made after getting married. While some may wonder why a postnuptial agreement would be necessary if a couple did not create a prenuptial agreement, there are many different reasons that couples may choose to enter into these types of agreements.

Situations Where a Postnuptial Agreement May Be Needed

As with prenups, postnups can specify how the division of marital property will be handled during a potential divorce, as well as whether either spouse will pay spousal support to the other. Some examples of cases where spouses may wish to create a postnuptial agreement include:

  • Business ownership - If either spouse starts a new business venture during their marriage or acquires an ownership interest in a business, the business will be considered marital property that may be divided between spouses in the case of divorce. This can raise concerns about whether the business will be able to remain operational, which may also affect the income-earning potential of the business owner. To protect a business from dissolution, a postnuptial agreement can specify how the spouses will divide business assets if they get divorced, such as by stating that one spouse will retain ownership of the business, while the other will receive other assets of a similar value.

    ...

DuPage County property division attorneyWhen spouses choose to end their marriage through divorce, they will need to address and resolve multiple different financial issues. During the process of dividing marital assets, real estate property owned by either or both spouses will be one of the key issues to consider, since these are likely to be some of the most valuable assets a couple owns. In addition to determining how to handle ownership of their marital home, couples may also need to consider other properties they own, such as vacation homes or commercial properties. To ensure that these assets are addressed properly, it is important to work with an experienced divorce lawyer, as well as other experts who can perform appraisals of property and provide guidance about financial decisions.

Factors to Consider When Dividing Real Estate and Other Marital Property

If a couple’s marital home or any other piece of real estate property was acquired during their marriage, it will usually be considered a marital asset that will need to be divided along with other property. However, even if real estate was owned by one spouse before getting married, it may be converted from separate property into marital property if both spouses used the property, made improvements, or contributed to mortgage payments and other expenses related to the home. In some cases, a spouse who owns real estate that is considered separate property may be required to repay the other spouse for their contributions to increased property values or equity in the home.

Divorcing spouses may sell their marital home and divide the proceeds from the sale, or one spouse may retain ownership of the home, while the other spouse receives other marital property of a similar value. When selling real estate property, spouses should be sure to understand whether capital gains taxes will apply to the profits they earn. If one spouse will own the home, the mortgage will usually need to be refinanced, and the other spouse will need to be removed from the home’s title and deed. A spouse who plans to maintain sole ownership of their home should be sure they will have the financial resources to make mortgage payments and pay other ongoing expenses, including utilities, maintenance, and property taxes.

...

DuPage County divorce lawyerIf you are like most people living in the United States in the 21st century, you use social media on a daily basis. Apps and websites such as Facebook, Twitter, Instagram, and TikTok allow you to connect with friends and family, follow news stories, and communicate with others who share your interests. However, this level of connection may also have its drawbacks, especially if you are going through a divorce. As you go through the process of ending your marriage, you should take steps to protect your privacy and avoid any issues that could affect your divorce case.

Social Media and Privacy Concerns

During the divorce process, making sure your personal information is private is likely to be a major concern. If you and your spouse have shared a computer or other electronic devices, you may have had access to each other’s social media accounts. To ensure that your spouse cannot log into your account to view your personal information or make posts in your name, you will want to change your passwords, and you may also want to update your account settings to make sure you can only log in from certain devices.

You should also be aware of privacy settings on the posts you make. While you may be able to restrict access to certain posts so they can only be viewed by your close friends or family members, you should be prepared for the possibility that your spouse could still view this information. For example, a mutual friend may decide to take a screenshot of a message or photo you posted and send it to your spouse. To make sure your privacy is protected, you may want to avoid posting or sharing any information that you would not want your spouse to see.

...

Naperville high asset divorce attorneyGetting a divorce will require spouses to address many different legal and financial issues, and this process can become very complicated, especially in cases where a couple has a high net worth. Sometimes, a spouse may try to take advantage of the complex nature of these proceedings and attempt to unfairly influence the division of marital property by hiding certain assets from their partner. If you believe that your spouse is concealing assets from you or is otherwise refusing to meet their legal obligations during the divorce process, you will want to work with an experienced divorce attorney to determine how to proceed.

Common Methods of Concealing Marital Assets

A spouse may attempt to hide money, property, or other assets because they do not think their former partner should receive certain items, or they may do so out of an attempt to make things more difficult for the other spouse. A person may also believe that they should receive a greater share of the marital estate because they earned the majority of the family’s income. However, attempting to illicitly claim assets outside of the standard procedures for dividing property is illegal. All of a couple’s assets, including their marital property and the separate property each spouse owns, should be disclosed during the divorce to ensure that all aspects of the couple’s financial situation are considered when dividing marital assets.

Some ways that a spouse may attempt to conceal marital property include:

...

Naperville parental alienation attorneyWhen parents choose to get divorced, they will need to address a wide variety of legal issues related to their children, and they will need to determine how they can continue to work together as co-parents to meet their children’s needs in the years following the end of their marriage. Since divorce can be an emotional and stressful process, parents’ negative attitudes toward each other may spill over into their interactions with their children and affect children’s relationships with both parents.

When one parent attempts to negatively influence their children’s attitudes toward the other parent, this is known as parental alienation. Whether it is done intentionally in hopes of gaining an advantage in decisions about child custody or is a by-product of a parent’s emotional difficulties during the divorce process, parental alienation should be addressed promptly to ensure that it does not cause harm to the children or affect the other parent’s parental rights.

Signs of Parental Alienation

Parental alienation can take a variety of forms. It can involve overt comments by a parent about their former partner to their children, such as blaming them for the divorce or claiming that they do not love their children or want to spend time with them. In many cases, parental alienation is more subtle, consisting of activities such as removing a parent as a contact at children’s schools or scheduling activities that the children would enjoy during the other parent’s parenting time.

...

Naperville IL parenting plan attorneyOut of all the issues that divorcing couples must decide on, the allocation of parental responsibilities and parenting time can often be the most difficult. Even in the most amicable of divorces, child custody decisions can become heated. This is why it is important to have a skilled DuPage County family law attorney working for you when drawing up an equitable parenting plan agreement.

Important Considerations in an Illinois Parenting Plan

Although it may seem impossible to be proactive for every situation that may come up, there is a range of decisions that you and the other parent will want to make sure you address in order to avoid serious parenting disagreements in the future. These topics include:

  • A basic parenting time schedule – The parenting schedule should clarify how much time the child will spend with each parent. The schedule should also spell out clearly who will be responsible for transporting the child for parenting time exchanges. If there are no safety concerns, and both parents get along fairly well, exchanges are usually done at each other’s homes. However, if there is too much acrimony between parents, then a neutral location may be better. In cases where safety is a concern, such as when domestic violence has been an issue, then locations such as police departments may be chosen.

    ...

Naperville IL divorce attorneyFiling for divorce is a momentous decision. Before you begin the process, it is a good idea to ensure that you are prepared in every way possible. The last thing you want is to be knee-deep in divorce proceedings and realize you are unprepared to navigate a critical question. 

Preparing For Divorce Financially

The first thing any professional will recommend is to begin saving money. It is not only attorneys that cost money—you will likely encounter many different bills, and without your spouse’s income, it may be harder to pay them. It is imperative, however, that you do not attempt to hide your assets, at least not money such as your paycheck that can be considered marital property. Illinois is an equitable distribution state, meaning that marital property is distributed to the spouses in the most equitable manner possible upon a divorce. Concealing money that is earmarked as marital property, as spouses’ paychecks usually are, can lead to accusations of hiding assets.  

It is also a good idea to consult a financial professional sooner rather than later, bringing any financial documents you have so that you can develop a realistic picture of your finances at the outset of a divorce. A professional will be able to give specialized, individualized advice as to whether you should take the step of closing joint accounts or opening a private account, or what to do with certain assets like stocks and retirement accounts. These instruments are so individual, and each situation so unique, that often, only a professional can assess your potential financial issues with any degree of accuracy.

...

What Makes a High Asset Divorce More Complicated?Every divorce has a complex array of marital properties that must be divided between the spouses, but high asset divorces take that complexity to a different level. People going through high asset divorces often need to work with multiple financial professionals, such as appraisers and forensic accountants. These professionals are worth the expense because a mistake in a high asset divorce could cost you a significant amount of money. Here are four reasons why a high asset divorce can be more complicated than an average divorce:

  1. It Can Be Difficult to Track Down All of Your Assets: A high asset divorce often has a variety of properties, such as real estate, businesses, investments, and collectibles. The properties may be spread out into accounts and locations in different states or countries. You need to be thorough in searching for marital properties so they are all accounted for in the divorce. It is possible that your spouse may be hiding assets in order to protect them.
  2. Asset Valuations May Require Multiple Appraisers: Besides identifying your marital assets, it is also important to determine the value of the assets. You may need an appraiser with a specialized area of knowledge for some properties in a high asset divorce. For instance, a fine art appraiser will give you the most accurate valuation of an art collection. Other properties, such as a business, may require extensive research to determine their true values.
  3. Spousal Maintenance May Be More Crucial: If one spouse makes a majority of the income in a high asset marriage, the other spouse will be more reliant on receiving spousal maintenance after a divorce. The recipient spouse can reasonably expect to maintain a similar living standard following the divorce, which may not be possible on their own. The amount of maintenance that the recipient needs may be more than what the payor wants, which can make negotiations difficult.
  4. Both Sides Are More Likely to Contest the Divorce Agreement: There can be millions of dollars at stake in a high asset divorce, which neither party wants to give up. Your spouse may fight you on the value of the assets and how they should be divided. If you cannot come to an agreement on your own, you may need to take your dispute to court, where a judge will decide how the divorce agreement should be constructed.

Contact a Naperville, Illinois, Divorce Lawyer

If you are about to go through a high asset divorce, you need a lawyer who is experienced with finding hidden assets and conducting complex property valuations. A DuPage County divorce attorney at Calabrese Associates, P.C., will make sure you receive your fair share of the property in your divorce. To schedule a consultation, call 630-393-3111.

Source:

...

What Does Child Support Pay for in Illinois?Child support payments are required whenever two parents are no longer together, whether it is through divorce or separation. Unlike parental responsibilities, a parent cannot relinquish their financial obligation towards their child while the child is still a minor – and sometimes into adulthood if a parent is ordered to help pay for college. Typically, the parent with a greater share of parenting time will receive child support payments from the other parent because the court assumes that they will be the person in charge of child-related expenses. What can and should child support payments be used for?

How Child Support Should Be Spent

The total child support amount that you and your co-parent are responsible for is how much Illinois estimates it should cost to care for your children, based on the number of children you have and the standard of living you can afford on your incomes. The total is meant to cover basic needs, such as food, shelter, and clothing. You can add other expenses to your total in order to cover healthcare, childcare, and school and extracurricular expenses. It is not a requirement that all of a child support payment be spent directly on the children because there are some expenses that are indirectly tied to the children. For instance, paying rent or a mortgage is related to the children because having children determined the size of the home you are living in.

Are There Any Restrictions on How Someone Uses Child Support?

It would go against the intention of Illinois’ child support law if a parent spent child support money on things that are unrelated to the children, such as:

...

How to Lock Up Your Assets with a Financial Restraining OrderYou should be on guard against your spouse dissipating your marital assets during your divorce. Some people will transfer assets into hidden accounts or make reckless or selfish expenditures before their spouse gets a chance to divide the assets in the divorce. At one time, Illinois law would automatically freeze a couple’s marital assets at the start of the divorce, but the Illinois Supreme Court ruled that the law was unconstitutional because it was overly broad and lacking due process. Instead, you can protect your marital assets by requesting a temporary financial restraining order.

What Does the Order Do?

A temporary financial restraining order prevents both you and your spouse from spending, transferring, disposing of, or concealing your assets without permission from the court during your divorce. There is an exception for the assets that you use to pay for basic living expenses, such as food, housing, and utilities. Major purchases of non-essential items or amenities would require permission from the court. A temporary order will usually last for 10 days and can be extended after a full court hearing.

How Can You Receive an Order?

The court will issue a financial restraining order if you can prove all of the following:

...

What Is a Social Distancing Contract for Divorced Parents?The COVID-19 pandemic has forced divorced parents in the U.S. to adjust their parenting plans. Social distancing guidelines have changed what is necessary to protect children from harm, which may include limiting their travel between homes and making sure that they are not exposed to the virus. Some parents have gone as far as to create “social distancing contracts” that stipulate what they should be doing to protect their children from the coronavirus. Creating such a contract may seem prudent given the state of the world, but divorce professionals warn that some parents are trying to use the contracts to control their co-parents.

Potential for Manipulation

Co-parenting can be difficult if your co-parent has a history of manipulative behavior, and the public health crisis gives them a new way to try to control you. Your co-parent may try to pressure you into signing a social distancing contract that they wrote, claiming that it is in your children’s best interest. Provisions you see in the contract may include prohibiting you from:

  • Allowing any guests into your home, including family members
  • Meeting new people outside of your home
  • Attending non-essential gatherings

Limiting these activities may be necessary to protect your children during a pandemic, but a contract lets your co-parent decide who you can see and what you can do with no room for your own judgment.

...

Are You Required to Separate Before Divorcing in Illinois?Once you and your spouse have decided that you want to divorce, you likely want to start the process as soon as you are ready. Creating a divorce agreement can take months while you gather information, negotiate the terms, and wait for your court date. You may also wonder whether Illinois requires you to live separately before you can file for divorce. If you ask this question to someone who got divorced five or more years ago, they may tell you that they had to live separately for months or years before they could divorce. However, Illinois divorce law no longer requires spouses to live separately, though proving that you have already been separated can help in some cases.

How Separation Helps

Illinois practices no-fault divorce, meaning that spouses do not cite grounds such as infidelity for divorcing. Spouses will often, but not always, agree on filing for divorce. When a spouse disputes a divorce, the divorce filer only must prove that there are irreconcilable differences. Prior to 2016, Illinois required spouses who both agreed to divorce to live separately for six months before they could file. If they disagreed on getting a divorce, the separation requirement to prove irreconcilable differences was two years. However, Illinois changed its divorce law in 2016:

  • Spouses who both agree to divorce can file immediately.
  • If the spouses disagree, showing that they have lived separately for at least six months will create a presumption of irreconcilable differences.

Even without living separately, citing irreconcilable differences is fairly easy to prove to the court. Even if spouses disagree on whether their marriage can be salvaged, the court may rule that the disagreement is proof of irreconcilable differences.

...

How Divorced Parents Can Create a Happy Father’s DayFather’s Day is a special celebration for all dads and their children, but the holiday may take on added significance if you are a divorced dad. Many divorced fathers must work hard to maintain a close relationship with their children. Mothers are still more likely to receive a majority of the parenting time with the children, leaving fathers with only a few days with their kids each week. Father’s Day is an excellent opportunity for children to spend quality time with their divorced dad, and mothers should encourage their children to celebrate the holiday. Both divorced parents have a role in ensuring a happy Father’s Day for their children.

Flexibility

Your normal parenting schedule may conflict with a planned Father’s Day celebration. For instance, the children may normally spend part or all of Sunday with their mother. As long as you both agree, you can be flexible with your parenting schedule to allow the father to have more time with the children. You could agree to adjust your schedule so that the mother receives more parenting time on another day in exchange for time on Father’s Day.

Creative Solutions

There are situations where it is not feasible or practical for the children to be with their dad on Father’s Day. Long-distance travel is difficult right now because of the restrictions caused by the COVID-19 outbreak. When faced with obstacles to a traditional Father’s Day celebration, you can come up with creative solutions, such as:

...

Does Your Spouse Share Your Business Debt in Divorce?The division of properties and debts is one of the main tasks when making a divorce agreement. You may know that a business that one of you owns can be marital property if it was started during your marriage, increased in value during your marriage, or mingled with your personal assets. When a business is a marital property, does that mean that the business’s debts are also marital debts? There are situations in which a business debt could be divided between spouses in a divorce:

  1. Your Spouse Cosigned on a Loan: Your spouse clearly shares liability for a business loan if they agreed to do so by cosigning the loan agreement. Your spouse may cosign if they are a partner in your business or if you need to back the loan with your personal finances in order to qualify. As long as your spouse’s name is on the loan contract, the lender will consider them liable for the debt, regardless of whether you decide to divorce.
  2. Your Business Does Not Have Limited Liability: The sole proprietor or general partner of a business is personally liable for their business’s debts unless they form the business into a corporation or limited liability company (LLC). Business debts that you are personally liable for will qualify as marital debts in a divorce. You may be expected to take responsibility for paying your business’s debt, but it will be included when calculating how to fairly divide all of your marital debts.
  3. You Used Your Business to Receive a Loan for Personal Expenses: A business owner may use their marital assets as collateral to get a business loan. The reverse can also work if you use business assets as collateral for a loan that is meant for personal expenses. For instance, you could use real estate that your business owns as collateral in order to receive a loan to pay for a home renovation project. Though the loan may appear to be a business debt, you can argue that your spouse should share responsibility for paying it because the loan was invested into a marital property.

Contact a DuPage County Divorce Attorney

Whenever you mix business and personal finances, it is important to keep track of where assets came from and how they are used. Otherwise, your spouse can claim ownership rights to business assets or avoid liability for shared debts. A Naperville, Illinois, divorce lawyer at Calabrese Associates, P.C., will work with you to protect your business interests. Schedule a consultation by calling 630-393-3111.

Source:

...

Getting Divorced After a Short MarriageAfter their actual honeymoon, newly married couples typically go through an extended honeymoon period, when the excitement and happiness of marriage outweighs any negatives. Researchers estimate that the honeymoon period typically wears off after three to five years, when stresses test the strength of a marriage. Some marriages do not survive the test, as studies in the U.S. show that approximately 20 percent of first marriages and 31 percent of second marriages end within five years. In rare cases, a couple may not need even a year to realize they made a mistake. Settling a divorce after a short marriage involves many of the same issues as longer marriages, but the duration of the marriage may affect how the issues are decided.

Division of Property

Illinois requires divorcing spouses to equitably divide their marital property, but a court is allowed to consider the duration of the marriage when determining the division. Courts will generally put greater importance on fairly dividing property in cases involving longer marriages, though there is no official number of years that are required for a longer marriage. For short marriages, it is also important to distinguish between marital and non-marital property. Spouses who have not been married for long are less likely to have accumulated shared assets, including:

...
Back to Top