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Property Division Archives

Divorce proceedings could affect sale of business

Some people in Illinois put a great deal of time and effort into creating a business that will be successful. However, all of that effort could be put into jeopardy should the marriage end in a divorce without certain protections in place for the business. In fact, some claim that the sale of a business in another state, and subsequent court filings in response, are the result of the business owner's divorce proceedings.

Should frozen embryos be considered in property division process?

For many couples in Illinois and across the country, having children is something that is extremely important. Unfortunately for some couples, it may not come easily. As such, they often seek out advances in medical technology to help them conceive, such as in vitro fertilization. As part of this, many couples opt to freeze fertilized eggs for future use, which can create complicated questions during a divorce. Some believe that the question regarding the fate of these embryos falls under property division procedures.

Factors that could invalidate an Illinois prenuptial agreement

There are many couples in Illinois who want to ensure that they are open and honest about their financial situation and their expectations if a divorce should occur before they say their vows. As such, many couples choose to create a prenuptial agreement. Unfortunately, even those with the best of intentions could ultimately find that the agreement they created the protect a business or personal finances, for example, could ultimately be determined to be invalid.

Illinois couples can take control of property division in divorce

No one in Illinois expects to be involved in a car accident, but they plan for that possibility anyway by purchasing car insurance. Likewise, no one has an expectation that their marriage will end in divorce while they are planning their wedding. However, the reality of life is that some will, and creating a prenuptial agreement is a form of insurance to protect their assets and ease the property division process should they choose to go their separate ways.

Illinois divorce: Mediation for property division, other issues

There are many rights of passage to which people in Illinois and across the country likely look forward -- getting married and having children, for example. While it is likely that going through a divorce is something for which no one intends to experience, the fact is that many couples will ultimately come to the determination that it is no longer in their best interests to remain married. Though going through the property division process and other aspects of a divorce has the potential to be contentious and lengthy, many couples are choosing mediation instead, an option that allows them to reduce conflict and potentially begin the next stage of their lives sooner.

Bradley Wilk and wife fight over property division, custody

The end of a marriage, though typically in the best interests of all parties involved, can come with some difficulties. This could be especially true when Illinois couples and others across the country are unable to agree on many elements of a settlement. For example. Rage Against the Machine musician Bradley Wilk and his estranged wife reportedly are experiencing conflict on many aspects of their divorce, including child custody, spousal support, property division and even the date of their separation.

Separate accounts will not protect assets from property division

Many people in Illinois want to plan for the future. For couples who are getting married, this often means taking measures that could potentially aid with the property division process in the event of a subsequent divorce. While there are some actions that can protect assets, certain misconceptions could ultimately leave some people vulnerable.

Discovering hidden assets important in property division

There is no doubt that the end of a marriage is often a difficult time -- sometimes both financially and emotionally. While some couples in Illinois are committed to making the divorce process as seamless and peaceful as possible, there are others who may attempt to hide certain assets during the property division process. As such, many people often turn to the law office of Lois Kulinsky & Associates, Ltd. for guidance.

Property division and retirement accounts

People enter into marriage in Illinois believing that theirs will be the marriage that will last. In about 50% of marriages, that is not the case. Divorce itself can be complex and property division in particular can be very involved. Many divorces are happening between older couples who have accumulated significant assets in their retirement savings accounts.

Property division when an Illinois business is involved

Few people -- even those who may have created a prenuptial agreement -- are ever fully prepared for the emotional and financial ramifications of a divorce. Despite the complications that the end of a marriage can create, often people in Illinois and across the country come to the conclusion that such a path is in their best interests. As such, many turn to the law firm of Lois Kulinsky & Associates, Ltd. for help with the variety of different decisions, including those involving property division, that will ultimately lead to a new, likely happier, and more fulfilling start.

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