When they’re represented by a lawyer who’s appropriately skilled, the attorney can keep the interference with the business down to really a minimum. The document assembly is going to have to be undertaken, but that can be done in a way that is not disruptive to the business whatsoever. The business valuation experts may conduct […]
Asset and Property Issues
What should a spouse who owns a number of businesses and is concerned about getting their fair share do during a divorce?
It’s a situation where the spouse who is less familiar with the business enterprises is going to really need some professional help in order to successfully get through the system. That means, at a minimum, that they’re going to need to retain a lawyer who’s well-versed in the concept of business valuation. The business valuation […]
When dividing pensions during a divorce, what are the most common errors to look out for?
The first most common error is that people don’t realize they have a pension. It used to be that lots of people had pensions in the private sector, but honestly, once IBM took away its pension plan and converted it to a 401(k), most of the big companies stopped having pension plans. The phone companies […]
How are pensions typically divided on divorce in Virginia?
A pension that’s really a pension, where it’s the amount of money paid monthly when someone retires, is divided by what’s called the Marital Curvature Fracture, which sounds really scary but it’s really simple. It’s divided by a fraction. The numerator is the time on the job during the marriage divided by the total time […]
If a service member’s family is currently living on base, will the ex-spouse have to move after the divorce is final?
Once you are divorced from a military member, you cannot live on base. Generally, you will have been moved off base before the time of the final divorce decree and the children go with whoever has custody of them. If the ex-spouse has custody of the children, he/she and the children will have to move […]
What are some frequent trends in hiding assets during divorce?
In Illinois, some frequent trends in hiding assets during divorce are the prepaying of college expenses, and closely held business interest.
How common is financial misbehavior during high-net-worth divorce cases?
That kind of misbehavior or selfish behavior is seen frequently in the high-net-worth arena. In those cases, forensic accountants and fraud investigators are available to uncover efforts that are made perhaps by a spouse to hide assets, and just as importantly to locate assets which may have been hidden. Sometimes that kind of financial misbehavior […]
Where there are multiple properties, how will these be divided upon divorce?
It depends on whether the property was owned prior to the marriage or, for example, whether it was acquired by gift. Property that’s owned before the marriage is often classified as non-marital. That’s set aside as the separate property of the spouse who owned it prior to the marriage, and it becomes their property, free […]
Who keeps the marital home after divorce in Illinois? | Divorce Magazine
Wondering who keeps the marital home after divorce in Illinois? There are different factors a judge will keep in mind when deciding. Read about them here.
Does a prenuptial agreement override normal property division rules?
It certainly can, but the factors that the court takes into account in dividing the marital estate really don’t apply if the parties have agreed before their marriage how that estate is to be divided in the event something goes wrong with the relationship. There are all different kinds of provisions that are agreed to […]
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