Free Consultations 630-407-1225

Recent Blog Posts

5 Steps to Take Before Filing for Divorce
Posted on December 05, 2018 in Divorce
TwitterFacebookLinkedIn

DuPage County divorce attorney credit scoreWhether you and your spouse have discussed the possible end of your marriage in detail or you are silently debating your options, once divorce becomes inevitable, there are several steps you need to take to protect your interests during the divorce process. Before filing, set yourself up for success with these tips:

1. Begin Building Your Credit

Spouses often discover post-divorce that they have built up their spouse’s credit while neglecting their own. Without a good credit score, down payments for utilities and housing are often significantly higher, if you are able to get approved in the first place. Open a credit card now and use it to make small purchases that you can pay off each month. The goal is not to create a pile of debt; it is to prepare yourself for future success.

2. Understand the Family Finances

For property division and support payments, it is imperative to understand what you own and what you owe. Gather important documents like your credit report, paycheck stubs, tax returns, and bank statements. This information will not only help a judge determine whether you are eligible for spousal maintenance to cover your family’s financial needs, but it will also assist you in creating a post-divorce budget.

...
Continue Reading →

When to Consider a Postnuptial Agreement
Posted on November 30, 2018 in Postnuptial Agreements
TwitterFacebookLinkedIn

Wheaton postnup agreement lawyerMarriage is more than love and romance. The union is comprised of many facets, not the least of which is the financial component. One must remember that above all, marriage is a legal contract, and unless an agreement exists stating otherwise, “What is mine is yours" is the general rule that will be followed. Under Illinois law, any property or debt acquired during a marriage is considered marital property, meaning both parties have an equal claim to these assets in the case of divorce. Although this may seem trivial when everything is sunshine and rainbows during a marriage, it can be extremely detrimental should the union fail. To address these issues, a postnuptial agreement can protect your interests if your relationship encounters difficulty.

A Logical Look to the Future

A prenuptial agreement can document what should happen to assets and debts should the marriage result in divorce. Although the thought of the marriage failing before it even begins can be unromantic, logically, this is an ideal time for the discussion, especially given that approximately 50% of marriages result in divorce. When preparing to get married, you can civilly discuss the intimate details without the hostility associated with separation.

After “I Do,” It Is Not Too Late

For many Americans, a prenuptial agreement is either out of the question or regarded as unnecessary. However, as a marriage progresses, circumstances change that alter the family dynamic. In these cases, it is not too late to create a legal agreement to protect yourself. A postnuptial agreement is fundamentally identical to a prenup, except that it is created after the marriage vows. The contract can include any provisions the couple deems necessary, such as how assets will be divided or whether one spouse will pay spousal maintenance. Some spouses even choose to incorporate a clause regarding what should happen in the event of adultery, something the state does not include in divorce decisions.

...
Continue Reading →

Understanding the Benefits of Divorce Mediation
Posted on November 27, 2018 in Divorce Mediation
TwitterFacebookLinkedIn

Wheaton divorce mediation lawyerFor those exploring the options of divorce, mediation is often new and unexplored territory. Most people envision divorce as consisting of ugly courtroom battles between two feuding spouses, with attorneys interjecting “Objection!” whenever appropriate. While some situations certainly escalate to meet this expectation, a significant portion of the population is opting for the less stressful, less costly, and frequently more beneficial alternative known as mediation. During divorce mediation, the two parties work to reach an agreement with the assistance of a knowledgeable and neutral third party.

An Option Between DIY and Litigation

Some people refer to mediation as “divorcing without attorneys.” This is partially correct, since the two parties reach an agreement together in private, rather than leaving the future up to an impartial judge in a public courtroom. However, rather than you and your spouse sitting at a computer attempting to navigate the murky waters of divorce papers, a neutral third party is present to guide the conversation. Although it is possible to use a non-attorney mediator, a lawyer has the legal training and experience necessary to provide the sound legal advice essential to create a lasting and beneficial agreement.

Benefits of Mediation

Although mediation is not a viable option for every situation, many who choose this approach discover a more friendly, less emotionally difficult experience than the traditional alternative. Mediation is a divorce on your terms, rather than a seemingly random decision made by a judge who only knows a limited amount about you and your family.

...
Continue Reading →

How Divorce Can Impact Your Credit
Posted on November 20, 2018 in Divorce
TwitterFacebookLinkedIn

DuPage County divorce lawyer credit scoreDivorce can cause a great deal of financial upheaval for a family. However, the divorce itself does not have a direct impact on your credit score. The divorce decree does not add or remove points from your existing number, but the financial outcome after the divorce can still play a significant role in what happens to your score. Here is what can go wrong and how to prevent damage to your score:

Responsibility for Joint Debts

Creditors want their money. They do not care if you got a divorce, nor do they care whether a judge proclaimed that one spouse is responsible for the balance on the joint credit card. If your name is on the account as a co-signer, an authorized user, or a joint account holder, you are also financially liable for these debts. The divorce decision does not negate the existing agreement you have with the lender.

Your Credit Score Is on the Line

If you share an account in any way with your ex, old or new, you are also legally responsible for the balance on that account. If the judge gives the responsibility to your ex, and he or she fails to make a payment, the negative marker will end up on your credit score, no matter how far in the past your divorce occurred. Your credit score may also be affected if your ex or someone else with access to a credit card runs up the balance on the account. Negative consequences affect all credit scores associated with an account, yours included.

...
Continue Reading →

Be Aware of These Risk Factors That Often Lead to Divorce
Posted on November 19, 2018 in Divorce
TwitterFacebookLinkedIn

DuPage County divorce attorneyAlthough ultimately, only you and your spouse know if divorce is right for your situation, relationship experts agree that there are factors that exist that decrease the likelihood of long-term marital success. Just as the presence of risk factors in your physical health does not mean that you will definitely receive a diagnosis, these factors do not mean that your marriage will ultimately result in divorce. The existence of these risk factors only means that you and your spouse will likely need to make a conscious effort to overcome these obstacles, typically through communication and compromise. Some common circumstances that increase the risk of divorce include:

Your Parents Divorced

Divorce impacts children significantly, and experiencing their parents’ divorce can affect their own relationships. However, a recent study indicated that biology also plays a role in the likelihood of divorce. A study published in Psychological Science researched adopted children, and the results indicate that the divorce pattern of adopted children more closely resembles that of their biological parents, rather than their adoptive parents. The conclusion the researchers found was that biologically inherited personality traits may play a larger role in the risk of divorce, rather than whether children witnessed a divorce in their own lives.

You Married Young

Our parents try to warn us as teenagers to hold off on marriage. Although for the most part, most of them are just concerned that their child is rushing into a big commitment, there is scientific evidence to back their concerns. Marriages that begin during the teenage years and even in the early twenties have a higher risk of divorce. However, this is also true for marriages that start after 32 years old, according to a study performed by the U.S. Census Bureau. Couples that marry between 25 and 32 have a 24% lower chance of divorce.

...
Continue Reading →
Back to Top