What is a Prenup?

What Is A Pre-Nuptial Agreement?

The term “pre-nup” is often part of pop culture’s nomenclature. We hear about it on television, we hear about celebrities and athletes entering into pre-nuptial agreements, and we hear about it in music. However, how does a pre-nuptial or premarital agreement actually work, and what is the legal reason people actually enter into pre-nuptial agreements?…

cryptocurrency and division of assets

Bitcoin, Other Cryptocurrencies And Divorce

In 2017 millions of people invested in Bitcoin and other cryptocurrencies. Millions of people also got divorced. Therefore, several Bitcoin owners got divorced and had to address the division of their marital assets…which included this new and strange asset which is difficult to verify and difficult to value. In an Illinois divorce the first step…

Who Gets The Jewelry In An Illinois Divorce?

Jewelry is a peculiar asset: it’s value has to be estimated, it can often “disappear”, but most all it is usually a gift. In Illinois, the first step is determining whether the jewelry is marital property or not.  Section 750 ILCS 5/503(a) of the Illinois Marriage and Dissolution of Marriage Act defines marital property as…

In Illinois, is property acquired after separation marital or non-marital property?

Parties almost always separate and begin pursuing separate lives before they even file for divorce.  Often, the parties will then believe that a “line in the sand” has been drawn where their earnings are no longer the property of their spouse as well. 750 ILCS 5/503 governs what happens with this property in a marriage…