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Examples of High-Value Assets in a Complex Divorce
All divorces can be complex. After being married for a certain amount of time, couples wind up having joint assets, which can be complicated to divide during a separation or divorce. Some divorces become increasingly complex as the assets divided between partners grow in value. If the quantity of assets needed to be divided is more significant than average or if the value of the joint assets is very high, individuals looking to divorce may need the help of an attorney with experience with high-value asset division.
What are Examples of High-Value Assets?
When dividing you and your spouse's joint assets during a divorce, it is essential to understand what constitutes regular and high-value assets. An asset in the context of divorce is defined as anything that has real value to the individuals. Typical assets that may be divided between spouses include:
What is the Difference Between Legal Separation and Divorce?
Each marriage has its own individual needs and unique dynamic, so there is no "one size fits all" solution to marital problems. While some couples decide legal separation is the right approach for their family, others believe divorce is the best decision. By understanding the difference between separation and divorce, couples can make an educated decision on what is best for them.
What is Legal Separation?
Separation refers to couples who are still married but choose to separate either geographically or financially from one another. Separation and legal separation are not the same things. When couples are legally separated, they make legally-binding agreements about child custody, property division, and other divorce matters but remain married.
Usually, couples that are separated live in separate homes. However, this is not required. Some couples will file for legal separation but choose to remain living together to help take care of the children or other familial responsibilities.
What Type of Divorce Litigation is Right For You?
Depending on the nature of a divorce, there are many different ways that lawyers and spouses can proceed with dissolving the marriage. Typically, an amicable divorce will stay out of the courthouse — lawyers can help manage the paperwork to file for divorce and divide each of the shared assets between partners. However, when a divorce is contested, lawyers may move to litigation in court. Despite preconceived notions on what divorce litigation may look like from television shows and movies, there are a variety of ways to litigate, or fight for a case, in court. By speaking to an experienced attorney, spouses can determine what type of divorce litigation is right for them.
Choosing to Litigate
Before diving into the types of litigation that are typical during a divorce hearing, it is important to understand why litigation is necessary for many spouses. There are two types of divorces in Illinois: uncontested and contested. An uncontested divorce includes spouses who are amicable and agree upon the division of shared assets, child custody, and other divorce issues during the dissolution. This would mean that the spouses can work together and sign all of the necessary paperwork without having to defend their decisions through the help of an attorney.
Becoming a Loved One’s Guardian in Kane County, Illinois
Adults over the age of 18 enjoy the privilege of making their own legal decisions. Whether this is the ability to consent, begin a line of credit or make medical and financial decisions, adult independence can feel freeing. However, there may also be a time in an adult’s life when making independent decisions is not in that person’s best interest. This can be due to illness, mental incapacity or disability. When an adult is no longer able to make significant decisions on their own, the state can appoint guardianship to a selected family member.
What is Legal Guardian?
When an adult is no longer able to make independent decisions, a family member or loved one can be appointed as a guardian to that person. Typically, guardians help make financial and medical decisions for another person. There are a few different types of guardianships in Illinois:
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Guardian of the Person— A personal guardianship is appointed by the court when an adult is no longer able to make decisions for their own care. This guardian will be able to make medical decisions including treatment, residential placements, or any medical or social services needed. For example, the guardian can decide when to place a loved one in assisted living or secure an at-home medical aid..
Who Has Visitation Rights in Illinois?
Many changes occur during a divorce, including the relationships between all family members. The most common family dynamic change that is considered during a divorce is between the the spouses and children. However, divorce can also affect extended family relationships. In an effort to preserve the important bonds between children and extended family members, the state of Illinois allows visitation rights for some non-parental family members.
Who Can Get Visitation With the Children After a Divorce?
Certain non-parents are family members that are legally recognized in Illinois as having visitation rights with children after a divorce. The state understands that other family members may spend a significant amount of time with the involved children. This can include taking care of them while the parents are at work, picking them up from school, or providing for the children's needs. If a parent is denying visitation with a non-parental figure in the child’s life, that person may be able to get visitation rights through the court.
My Ex-Spouse Is Preventing My Visitation Time With the Kids
To finalize a divorce, the court will set a decree that firmly outlines the terms of the divorce. These things can include who stays in the home, who gets the family heirlooms, and who gets the majority of parenting time with the children. It is illegal for a spouse to choose not to take part in their responsibilities outlined by the divorce order. If a partner decided they no longer wanted to pay child support, they would face legal consequences such as contempt charges. Similarly, it is illegal to prevent a spouse from being able to complete their responsibilities by preventing visitation with a child.
Visitation Rights and Your Illinois Parenting Plan
Each parent is entitled to parenting time (previously called visitation) and parental responsibilities as outlined in the divorce order. Typically, parents can come to a mutual understanding regarding a schedule that works for both of the spouses. However, if one of the spouses is deliberately sabotaging visitation time, they can be held legally responsible for violating a court order.
Can I Get My Child’s Marriage Annulled in Illinois?
It is often normal for parents to be unsure of their child’s choice in a romantic partner. However, in the state of Illinois, it may be possible to get your child’s marriage annulled if the circumstances of the marriage were illegal. A few factors can lead to marriage invalidation in Illinois. If a marriage occurred when one or both of the parties were under the age of consent or unable to consent, a parent can file for an annulment or “Judgement of Invalidation of Marriage.”
My Underage Child Got Married Without My Consent
One reason to have a marriage annulled in Illinois is if a child ages 16 or 17 got married without parental consent. The age of consent in Illinois is 17 years old, however, to obtain a legally legitimate marriage, a 17-year-old must also have parental consent documented. Lacking parental or judicial consent to marry at 17 leaves the marriage prohibited.
My Child Was Under the Age of Consent
Four Reasons to Get a Paternity Test in Illinois
Establishing parentage of a child has many benefits. In the case of paternity, determining parentage can be difficult depending on the marital status between the parents and paternity allegations. Often, the best way to determine the biological father of a child is by taking a paternity DNA test. These are the four main reasons to take a paternity test in Illinois.
You Want the Alleged Father to Pay Child Support
Even if a father is not interested in being a part of the child’s life, he is still accountable for financially supporting the child. A mother who is interested in obtaining child support from the father of her child may need to request a DNA paternity test. By requesting the alleged father take a DNA test and prove paternity, you can ensure that he is held to his legal responsibilities.
The Father Wants Custody Rights
Courts will allow for custody rights including parenting time based on the best interests of the child in question. Typically, this encourages both the mother and father to be an active part of their child’s life. If the paternity of a child is undetermined, a parent or the court may request a paternity DNA test to be conducted. A father-child relationship can be an important bond for both the dad and the child. By establishing paternity, a father can secure custody rights to encourage involvement in the child’s life.
Making Divorce Modifications in Kane County, Illinois
Although divorce orders are final and upheld by the law, there are many scenarios that can allow for post-divorce modifications to be made. Many things change after a divorce is finalized, and often, people want to revise their existing divorce decree to better fit their new lives. Someone looking to make certain changes will have to submit a petition clearly showing the need for a modification. Speaking with an experienced divorce and family lawyer can help facilitate these modifications to a divorce order.
What Modifications Can I Make?
Post-divorce order modifications can not be made simply because they upset or inconvenience one of the parties. Although many people are unhappy with the outcome of their divorce orders, that alone would not be grounds to make significant legal changes to a divorce decree. There are, however, underlying factors that warrant a judge reviewing the divorce agreement and potentially making changes.
Can I Get Non-Minor Child Support for a Disabled Child?
Child support usually ends when the child grows up and graduates high school. However, if a child is disabled (mentally or physically), there may be an extension of child support payments. In the state of Illinois, child support payments are determined using the Income Shares formula. The court will determine how much each parent pays in child support based on their net incomes. However, there is another factor that determines the type and amount of child support ordered: the child’s need. By working with a family law attorney, child support can be modified or extended to support a child with special needs.
Getting Support for a Disabled Child
Child support in Illinois ends when the child turns 18 years old and graduates high school because it is assumed the child will be able to emotionally and financially support themselves. However, this is not the case when dealing with a child or adult with special needs. The non-minor child with special needs may not be able to financially support themselves into adulthood, and so the custodial parent may be required to continue providing support. In this scenario, child support from the non-custodial parent can be extended.