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Are Trust Funds Marital Property in Illinois?

Are Trust Funds Marital Property in Il...

Contrary to popular stereotypes, trust funds are not the exclusive province of the wealthiest people. Estate planning lawyers often encourage clients to set up trusts in order to save money on taxes; especially in blended families, trusts are an effective way of preventing inheritance disputes…

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Ways That Divorce Impacts Estate Planning

Ways That Divorce Impacts Estate Plann...

Estate planning plays an important role in making sure loved ones are provided for in case the unexpected happens. It is an important task for married couples and helps to ensure that both they and their children are protected. However, when getting a divorce in…

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What to Know Before Filing for a Gray Divorce

What to Know Before Filing for a Gray ...

Although the overall divorce rate is still high, it has declined significantly in recent years. The over-50 divorce rate has trended the opposite way. Marriage dissolution matters in this age range haveĀ doubledĀ over the last two decades. All divorces usually involve significant emotional and financial issues.…

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Understanding How Assets are Divided in a High Asset Divorce

Understanding How Assets are Divided i...

Many people do not know that the parties themselves have almost exclusive control over issues like property division in a high-asset divorce. Roughly 95% of divorce cases settle out of court. Judges usually encourage these settlements for various reasons. So, they usually approve almost any…

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Challenges You May Encounter During A High Asset Divorce

Challenges You May Encounter During A ...

Every divorce is unique. However, a high-asset divorce can present unique challenges that other divorces don't. In a high-asset divorce, there is a lot on the line. One simple mistake, such as an incorrect valuation or missing an asset, can impact your life for countless…

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What Is Considered Nonmarital Property in Illinois

What Is Considered Nonmarital Property...

Every divorce is unique to the couple involved, but the division of marital property remains an important component of nearly every divorce. Those assets that you and your spouse acquired over the course of your marriage are generally classified as marital property, which is intended…

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