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March 2017 Archives

Dealing with a family-owned business in a divorce

Getting a divorce in Illinois is difficult, but it can get even more complex when you and your spouse own a business. Not only do you have to worry about ending your marriage but now you also have to determine what steps to take with the business. At Lois Kulinsky & Associates, LTD, we recognize that you have several options and that you need to understand them in order to know how to proceed.

You can't protect assets if you don't know what they are

It happens all the time in marriage. One spouse takes over the role of carrying out certain tasks and duties while the other focuses on other areas of expertise. For instance, how many Illinois couples do you know where one person acts as the resident mechanic, or one spouse does all the cooking while the other takes care of lawn maintenance and trash pickup? Even more common are marriages where one spouse deals with all things finance-related, including paying bills, investing money, purchasing insurance and other related issues.

How can I uncover an offshore account in a divorce?

When you are involved in a high asset divorce in Illinois, there is always a concern about your spouse possibly hiding assets. This can be done in a variety of ways, but a common approach is to put money in an offshore account. You have to uncover the money if you wish for it to be considered by the court when your assets are divided, so you can get what is owed to you under the law.

Custody regulations for moving to a different location

After a divorce in Illinois, one parent is typically granted physical custody of any children. This parent is who the children live with the majority of the time and who has general decision-making responsibly over the children on a day-to-day basis. If the parent decides to move and relocate the children, certain steps may need to be followed.

Child support modification process

Illinois child support orders are not set in stone. According to the Department of Health and Family Services, substantial changes in circumstances can because for a child support modification request. In addition, every case can be modified every three years. Support may be increased, reduced or, in some cases, ended. First, a case must be reviewed, which involves checking into financial information and other related facts, such as employment.