Posts Categorized: Divorce Attorney

Can A Spouse Be Forced To Sell Their Share Of A Business In An Illinois Divorce?

Dividing A Business In An Illinois Divorce When a couple divorces in Illinois, one of the most complex issues that may arise is what happens to a business owned by one or both spouses. A business is often one of the most valuable marital assets, making its division a significant concern in the property settlement process. Under Illinois law, business interests may be subject to division if they are considered marital property under the Illinois Marriage and Dissolution of Marriage Act (750 ILCS ...   Read more ...  

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Can I Protect My Intellectual Property Rights During Divorce In Illinois?

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Divorce is a complex process, especially when intellectual property (IP) assets are involved. Whether you own patents, trademarks, copyrights, or business-related trade secrets, it is important that you understand how Illinois divorce laws impact these assets. Under 750 ILCS 5/503, Illinois follows an equitable distribution system, meaning the marital property is divided fairly but not necessarily equally. If intellectual property was created during the marriage, it may be considered marital pro...   Read more ...  

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Protecting Your Medical Practice During Divorce Proceedings In Illinois

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Divorce can be incredibly complex when one or both spouses own a medical practice. In Illinois, business assets—including medical practices—may be considered marital property, subject to equitable distribution under 750 ILCS 5/503. Whether a practice was established before or during the marriage, its value, ownership structure, and revenue streams can significantly impact the division of assets. Michael C. Craven works closely with his clients to protect their financial interests during divo...   Read more ...  

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The Role Of The Financial Affidavit In Illinois Divorce Proceedings

financial affidavit

A financial affidavit plays a critical role in Illinois divorce proceedings, providing the court and both parties with a comprehensive overview of each spouse’s financial situation. This document ensures transparency in matters such as income, expenses, assets, and debts, which is crucial for determining issues like spousal maintenance, child support, and the division of marital property. The accuracy and honesty of the financial affidavit can significantly impact the outcome of a divorce sett...   Read more ...  

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Does Adultery Have Any Impact On Divorce In Illinois?

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As a divorce attorney practicing in Chicago, I frequently encounter questions from clients about the impact of adultery on divorce proceedings in Illinois. Understanding how infidelity can influence the dissolution of marriage in our state is crucial for anyone navigating this challenging time. Adultery And Illinois Law In Illinois, historically one could seek a divorce for multiple reasons including a spouse’s infidelity. The grounds for divorce transitioned to what is referred to as “n...   Read more ...  

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What To Consider When Telling Your Kids About Divorce

At first, children often struggle to grasp the basic concepts behind divorce. This can make talking about the divorce a frustrating process for everybody involved. Hopefully, these insights will be able to help you increase your chances of having successful conversations. I believe that, with the right strategy, you can help your children move forward through this challenging process.   Before you read on, you should know that what you tell your children could have an influence on the outco...   Read more ...  

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