Most Illinois residents have either friends or family members that have gone through a divorce. They have also likely heard many stories of the hardships associated with this experience. Identifying marital property and non-marital property as part of an overall property division settlement alone can be hard. The added struggles associated with determining child custody, child support, spousal support and more only increases the potential for challenges to arise.
Readers in Lake County have likely heard it said that money brings out the worst in people. This is often made evident in high end divorce cases. More than fighting over who gets what property interests or assets, in some cases, one or both spouses may use nefarious means to lessen the amount of their soon to be ex’s settlement.
When couples in Lake County, and other localities, get divorced, one of the major steps is dividing marital property and assets. In some cases, if an agreement is not reached between the two sides, a judge may step in and decide how to divide their funds and properties. A judge will often use factors including the marriage’s length, both spouses’ careers and earning potentials, and the complex valuation of their assets and holdings to help them determine the distribution. If one spouse or the other conceals funds or other assets, it can affect the asset and property division.
Readers in Lake County may or may not be aware of the child custody dispute that has been ongoing between Olympic skier, Bode Miller, and the mother of his nine-month-old son. The cross-country conflict has once again heated up and could now have major implications on the parental rights of both the mother and the father prior to a child being born.