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Category: Marital Property

“If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein.

What issues can be reserved in an Illinois divorce?
Divorce

Reserving Financial Issues In An Illinois Divorce

Divorce is unpleasant. Most people put off divorce issues…even during the divorce. In fact, financial issues can be reserved to be addressed later should the parties agree or the court determines that reserving a financial

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Bankrupty and divorce in Illinois
Marital Property

When Your Spouse Files For Bankruptcy In Illinois

Divorce and bankruptcy seem to go together. If you are throwing away your personal life, why not also throw away your professional life? Promises, after all, are made to be broken. How Bankruptcy Works “The

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Franchise Business and divorce in Illinois
Marital Property

Franchise Businesses In An Illinois Divorce

Whether it is McDonald’s, Jiffy Lubes or Verizon stores, Americans love a trusted brand. All of us enjoy the promise of consistent quality a branded business provides…even if we have never used that particular location

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Who gets the art in an Illinois divorce?
Marital Property

Valuing And Dividing Art In An Illinois Divorce

They say you should marry someone who you share common interests with. Those interests may be religion, sports, theater or just sex. Unfortunately, you cannot take any of these interests home and put them on

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Day trading and divorce in Illinois
Marital Property

Bad Investments In An Illinois Divorce

A fool and his money are soon parted. This partition often happens before an Illinois divorce. Whether the investment was crypto, stock market day trading or other forms of essentially legalized gambling, big losses mean

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Escrowing Money In An Illinois Divorce
Child Support

Escrow In An Illinois Divorce

A divorce has a lot of moving financial parts. Divorcing people are earning money. Divorcing people are spending money. Divorcing people are selling assets. Divorcing people are buying things. As my dad used to say

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Mortgage balance worth more than the house in an Illinois divorce
Marital Property

Illinois Divorce With An Upside Down Mortgage

After 17 years of divorcing people, I have learned that the average Illinois resident only has two assets: their 401(k) and their home. Their home is worth as much as it would sell for on

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