Free 30 minute initial consultation
Wheeling847-459-4448
Libertyville847-281-0200
Buffalo Grove847-459-4448
Lois Kulinsky & Associates, Ltd.

March 2018 Archives

What role dies Facebook play in property division?

Many Illinois spouses believe that their social media has nothing to do with their divorce. In reality, however, Facebook and other social media sites are becoming a commonly tapped source of information for divorce attorneys. Even property division can be directly impacted by Facebook. 

High asset divorce and investment accounts

The division of assets is a primary consideration in the majority of Illinois divorces. In many cases, there are multiple investment accounts as well as real estate and other assets that need to be accounted for. In each instance, the value of each item and how each item is transferred can have a significant impact on the individual and his or her financial picture following a high asset divorce.

Getting back on your financial feet after a divorce

No matter how many of your friends have gone through a divorce, their tales of woe did not begin to prepare you for your own divorce. It is one thing to watch it happen to a friend's marriage or to a character on TV, but when it is happening to you, you can't know what to expect.

Property division involving family business can be challenging

Deciding what to do with a family-owned business in a divorce can be challenging for divorcing couples in Illinois. Regardless of the size of the company, dealing with it in property division could be a contentious issue. Breaking the emotional tie and putting on the business hat might be the hardest part. Gathering all the business records and obtaining a current value of the business will likely be the place to start because a valuation will be necessary regardless of the way in which the division is handled.

Postnuptial agreement effective in establishing property division

The typical Illinois couple is waiting longer to get married. As a result, each individual has likely become established in a profession and begun to accumulate assets. In some instances, one or both individuals have already experienced another serious relationship and may also bring children into the new marriage. All of this adds up to the reality that each individual may have assets that should be treated as separate property rather than marital assets when it comes to property division in case of death or divorce.

Property division and the mistakes people often make

Mistakes happen all the time. Some mistakes are minor with minor consequences; others can be costly both emotionally and financially. For the Illinois resident considering divorce, there are a number of errors that can be costly when it comes to property division.