How a Forensic Accountant Can Help You During the Discovery Process

 Posted on December 00, 0000 in Property Division

The process of allocating assets during a divorce is often one of the most contentious issues between couples. The state of Illinois practices equitable distribution of assets and liabilities, rather than equal distribution. This means that there is nothing saying a judge has to assign half of the marital estate to each spouse -- one spouse could end up walking away from the divorce with more money or more debt. Because of this, some spouses may be tempted to cover up assets so they may keep them for themselves. Illinois courts strongly recommend that couples try to come to an agreement on property distribution on their own, but this is not always possible, especially if both spouses are not willing to be truthful with each other.

This is often the step of the divorce process in which “discovery” comes into play. Discovery is the exchange of information between the two spouses and their attorneys. During this step, both spouses are required by law to be fully and completely transparent about the issue at hand. This means each spouse must disclose any and all assets, including both marital and non-marital assets.

Continue Reading ››

What Is Collaborative Divorce and Is it Right for Me?

 Posted on December 00, 0000 in Collaborative Law

The term “collaborative divorce” has been popping up more often in recent years, with many more lawyers claiming collaborative divorce as one of their practice areas. What is collaborative divorce? It can mean several different things, but usually it means the two sides work together to find a settlement instead of having a contested divorce and hurling accusations at each other.

How Does Collaborative Divorce Work?

Most of the time a collaborative divorce starts before any paperwork is ever filed with the court. Instead, the lawyer from one side sends a friendly letter explaining that his or her client has chosen to pursue a collaborative divorce where the sides work together to settle all the issues.

If both sides agree, each spouse and their lawyer negotiate a settlement regarding all of the issues in the divorce. Once an agreement is reached, the clients usually sign a contract stating the terms and perhaps even penalties for breaking the agreement. Then the required paperwork is filed with the court. Illinois requires that a judge approve all divorce agreements. However, judges rarely object to anything the parties have worked out.

Continue Reading ››

Making the Most of a Collaborative Divorce

 Posted on December 00, 0000 in Collaborative Law

Supermarket tabloids and social media feeds are frequently full of divorce horror stories—usually involving celebrities—in which the proceedings drag on for months because the parties cannot see eye-to-eye on virtually anything. You probably even know someone personally whose spouse refused to cooperate, leading to expensive delays and long-term uncertainty. In addition to the added costs, the emotional strain on a family in such a situation can be tremendous, and in some case, almost unbearable. There is, however, no reason to subject yourself and your family to the dangers of that type of divorce, especially when a collaborative divorce may be an option.

The Collaborative Process

A collaborative divorce is a team-oriented approach to ending a marriage that looks to avoid taking the matter into the courtroom. In fact, as part of the agreement to collaborate, the attorneys for you and your spouse contractually agree to withdraw as your representation should you decide that collaborative divorce is not working, and litigation is necessary. This creates an incentive of sorts to reach a resolution without spending additional money on new lawyers.

Continue Reading ››

Is Collaborative Law an Option for Your Illinois Divorce?

 Posted on December 00, 0000 in Collaborative Law

For most people, the word divorce brings to mind images of a husband and wife waging war against each other, fighting over who will get custody of the children, the house, and even the family dog. Divorce, however, does not always have to be so acrimonious, as many couples who decided to go the route of collaborative law instead of traditional litigation have found.

In collaborative law, a couple will work together to mutually decide how all issues will be settled within the parameters of a dispute resolution process. The couple, along with a team of professionals, have complete control over how their marriage will end and all of the inherent considerations. They make the final decisions regarding child custody (parental responsibilities), asset and property divisions, and whatever other issues each individual couple may have to settle.

Reestablishing Important Skills

Continue Reading ››

Exiting Divorce as Friends: The Collaborative Divorce Process

 Posted on December 00, 0000 in Collaborative Law

People consistently envision the divorce process as an adversarial affair that pits parties against one another, which culminates with the ultimate goal of walking away with more than the other side. Divorces of this type do exist, but every divorce is not destined to be a series of contentious exchanges. Another approach is available that allows couples to maintain civil, working relationships so they have the ability to remain in contact once the divorce is finalized.

Collaborative divorce is an alternative method of navigating the end of a marriage that is conducted in a supportive environment and puts the parties in control of the outcome. Parties wishing to co-parent or retain a family business following divorce could benefit from this resolution process. Understanding that an alternative exists to traditional litigation grants divorcing parties greater freedom in working out conflict, which often leads to more cooperation.

Continue Reading ››

Oral Agreements and Divorce Settlements

 Posted on December 00, 0000 in Collaborative Law

There are many alternatives to litigation when it comes to divorce, including mediation and collaborative law. When these alternatives are successful, the parties must still submit a final agreement to the court. A settlement agreement, after all, is a legally binding contract. But at what point is the settlement binding? Can you agree to a settlement and then change your mind at the last minute? A recent Illinois divorce case illustrates how courts may deal with such a scenario.

Court Rejects Husband's Effort to “Back Out” of Agreement

The parties in this case were married for about 16 years. The wife filed for divorce in 2013. Following a lengthy financial discovery process, their case was scheduled for trial at the end of 2015. At a scheduled deposition in October 2015, the parties opted to have a settlement conference instead.

The parties emerged from the conference with an oral agreement, which they presented to the trial judge. The wife's attorney read the terms of the deal to the judge. The judge then asked both the husband and wife if they had participated in the negotiation of these terms, that they understood those terms, and they “agree to bound” by the. Both spouses responded yes to all three questions. Based on this, the judge ordered a follow-up hearing, at which time the parties would present a final written agreement incorporating the terms of the oral settlement.

Continue Reading ››

The Advantages of Collaborative Law

 Posted on December 00, 0000 in Collaborative Law

When spouses are considering pursuing a divorce one of the primary considerations that must be made is how much money is it going to cost. From the cost of lawyers themselves to the various professionals that may need to be used in a divorce, the entire process can seem relentlessly expensive. However, there are options to avoid a potentially lengthy and costly divorce. One of those options is choosing collaborative law.

Collaborative law is a type of dispute resolution. It is a decidedly useful tool for spouses considering divorce. Collaborative law includes both spouses through their attorneys to cooperatively develop and acquiesce to the terms of the settlement.

Does Collaborative Law Always Work?

Despite collaborative law being a cooperative method of pursuing a divorce, the success still turns on whether the parties can reach an agreement. Not every collaborative law effort will be successful, and when the negotiations break down, the matter may have to be settled in court. Knowing this ahead of time should motivate you to choose an experienced and professional DuPage County divorce lawyer who has also been trained to handle collaborative law matters. It is important that the representation you choose is as skilled at alternative dispute resolution as they are in trial litigation.

Continue Reading ››

How the Collaborative Divorce Process Works in Illinois

 Posted on December 00, 0000 in Collaborative Law

It has often been said that breaking up is hard to do. This can be especially true if you are getting a divorce, which has emotional and financial impacts, not to mention the life upheaval it brings. Not all divorces have to be full-on feuds, though. A form of alternative dispute resolutions, a collaborative divorce is designed to keep the peace between separating spouses and come out on the other side with a settlement that is mutually agreeable. What Is Collaborative Divorce?

The theory behind a collaborative divorce is that both spouses will work together (or collaborate) to come to an agreement that they can both be satisfied with. Both spouses have their own lawyers, much like a traditional litigated divorce. Rather than deciding issues in court, the collaborative process takes place in private meetings between the two spouses and their lawyers where the group negotiates their issues, rather than having a judge decide their outcomes. Collaborative divorce begins with both spouses sign an agreement stating that they will:

Continue Reading ››

Benefits of Collaborative Divorce in Illinois

 Posted on December 00, 0000 in Collaborative Law

When you think of divorce, you might think of litigation in a courtroom with a judge handing down decisions, or a couple in a lawyer’s office arguing with each other, voices raised, about who gets to keep the family home. While popular culture would lead you to believe this is how divorce is, in reality, it does not have to be that way. When you think of getting a divorce, you do not have to go the traditional litigated route - you have options. One of those options is to go with a collaborative divorce, or one in which you both work together to settle your disputes outside of the courtroom. This has turned out to be beneficial for many couples for many reasons. Here are a couple of reasons why you should consider going with a collaborative divorce:

The Process Can Be More Affordable

Because you are settling issues in various meetings, rather than in the courtroom, you are not having to pay court costs and fees every time you try to settle something. Rather, you can make it a point to come to a decision about certain things during each meeting, cutting down on the number of meetings you will actually need to have.

Continue Reading ››

Reasons You Should Consider Collaborative Divorce

 Posted on December 00, 0000 in Collaborative Law

It is no secret that divorce is difficult. What some people do not know is that there is more than one way you can get a divorce. From DIY divorces to mediated divorces, there is a process that fits almost everyone’s situation. One type of divorce -- a collaborative divorce -- can be beneficial to the entire family. A collaborative divorce is one in which both spouses sign an agreement stating that neither of them will go to court and will instead determine solutions to their problems through meetings with attorneys, financial advisers, child specialists, and other professionals. There are many reasons to choose a collaborative divorce over a traditional litigated divorce, but here are just a few:

1. You can actually end up saving money with a collaborative divorce. Traditional litigated divorces can end up costing you four times as much as a collaborative divorce would cost. While you do end up hiring more people to help you complete your divorce, the trained specialists actually help you complete your divorce quicker and with less arguing. Plus, you are saving on countless hours of lawyers fees and court costs.

   Continue Reading ››