Family lawyer Sean Sullivan answers popular questions surrounding property division during the divorce process in Illinois.
Property Division
Is going to court the only way to ensure you’ll get your fair share?
California Family Law Specialist Fern Topas Salka discusses the benefits of consensual dispute resolution to get your fair share in divorce going to court.
Is going to court the only way to ensure getting your fair share?
Is it true that going to court is the only way to ensure that you’ll get your fair share?
Are my husband’s annual bonuses considered marital or separate property?
My husband received annual bonuses during our marriage which he put in a savings account in his name only. Are these funds considered marital or separate property?
Are stock options considered an asset to be divided during divorce?
John Gilligan, a Certified Family Law Specialist, explains whether or not stock options are taken into consideration when dividing assets during divorce.
To save money, can a business owner use the company’s accountant, who is already very familiar with the business?
If both parties agree, yes. I had a case recently where the parties agreed to use the business accountant and the accountant came up with an amount of value for the business. Then one of the parties said, “Well I don’t like that number.” Then they hired a business appraiser. If both parties agree with […]
What does “double dipping” mean in a divorce context, and why would this be a problem?
You’ve got a marital asset which is the business, and the business has a value. You’re counting that marital asset as property in the division of all of the property in the divorce case. You’re counting it once, and then you’re wanting spousal support, so you’re counting the business again because it has a stream […]
Is the business taken into account when it comes time for calculating child support?
Is the business taken into account when it comes time for calculating child support? For example, if the teenage children are driving company cars, have company cell phones, etc.
If a self-employed spouse is going through a divorce, are they going to get their share of the value of the business?
They would be getting their share if there is a value to the business. Are they going to get spousal support? If spousal support is an issue in the case because one of the parties doesn’t work or was working in the business and has to restart, they would get spousal support. There are a […]
What happens in a case where valuation of a family farm is needed?
I had a farm case like that very recently, and it had just those issues where my client was a peach farmer and he wanted to continue farming. His wife was going to take part of the land and be the one in charge of developing it. In most of the farm cases, there are […]
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