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Divorce Attorneys Should Be Aware of the Many Ins, Outs of Real Estate Law Discourse on Divorce As featured in the August 8, 2017 edition of the Chicago Daily Law Bulletin By Michael C. Craven Welcome to the second edition of my Discourse on Divorce column, in which I explore areas of law that intersect with divorce law. After examining the connection between estate planning and divorce law in my last column on April 30, in this edition, I look at how real estate lawyers can keep their clients i...   Read more ...  

The median household income for Illinois was between $50,000 and $59,999 in 2015, according to the U.S. Census Bureau. Yet, some couples will make considerably more than the median household income. If you and your spouse are a couple who accumulated a great deal of wealth, then you will be part of a high net worth divorce. This type of a divorce can be lengthy, complicated, and costly without the right legal advice. Issues Impacted by Your High Net Worth   If you and your spouse earn high inco...   Read more ...  

Once you decide to divorce, you face a number of issues that can either be solved quickly with a calm discussion or turn into a contentious battle. The division of property is one of those issues. Some spouses agree on how to divide their belongings, savings, and debt. They work it out by negotiation and present their plan to the court for approval. Other times there are arguments over who owns what, how much something is worth, and who deserves more. In these situations, you may need to ask the...   Read more ...  

Are you interested in receiving spousal support after your divorce? Will you be required to pay support to your ex-spouse? If so, you can negotiate the amount and duration of maintenance (the legal name for alimony or spousal support in Illinois) with your spouse with the help of an experienced Chicago divorce attorney. Two of the most common arguments for alimony are that one spouse earns less than the other because he or she stayed home with the kids and a spouse has become accustomed to a cer...   Read more ...  

While a prenuptial agreement does not look romantic at first glance, there is nothing more loving than planning your future with someone. This contract is not entirely about what happens in the event of a divorce, though this may be an important aspect of it. It is also an agreement that can lay out how you plan to handle your finances and estate. To learn more about the advantages and disadvantages of prenuptial agreements, contact me today.   The Advantages of Prenuptial Agreements   The...   Read more ...  

When you and your spouse decide it is time to end your marriage, you have to figure out when and how to tell your kids. It is hard to imagine a more difficult conversation. Then, once you have told your children, you must navigate the tumultuous waters of separating your life from your spouses, all while minimizing the impact of these changes on them. There are so many factors to think about, it is smart to discuss with your spouse exactly how you plan to handle your separation, future disagreem...   Read more ...