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Wakenight & Associates, P.C.

9405 Bormet Drive, Suite 7, Mokena, IL 60448

Mokena | 815-727-6144

DuPage County | 630-852-9700   Oak Park | 708-848-3159

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Subscribe to this list via RSS Blog posts tagged in Orland Park divorce attorney

 New Lenox divorce lawyer for hidden assetsNo matter the reason you and your spouse are getting divorced, there is probably some sort of tension between the two of you, even if it is just a small amount. In divorces involving couples who have a lack of trust, it is not uncommon for the property division process to be long and contentious. When you begin the process of allocating your assets, you and your spouse will have to provide information about all of your assets and debts. Full disclosure is required, though it is not always given. If you suspect your spouse is hiding assets from you, you should begin the process of uncovering those assets right away. Here are a few ways you can look for hidden assets if you suspect your spouse is not being truthful:

Start With Tax Returns

The first place you should begin to look for hidden assets is in your spouse’s tax returns. Get copies of his or her tax returns from at least the last five years and examine them closely. Look at the sources of income that are listed, itemized deductions that were taken, capital gains and losses, and profits and losses from any businesses.

Check Bank Account Statements

Next, begin to examine your bank account statements from any financial institutions that you bank with. Look at both checking and savings accounts. You should be looking for any unusual deposits or withdrawals. Also, look for any canceled checks and who they are made payable to. You may be able to reveal the purchase of an investment or other property.

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New Lenox divorce and child custody attorney

If you are getting divorced, and you have children, there are an entire set of issues that must be addressed that will be unique to this type of case. You and your spouse must decide where the children will live, what kind of parenting time arrangements will work for you, and, arguably most importantly, how decisions concerning the children will be made. Illinois courts urge you and your spouse to reach an agreement about these issues on your own, but that is not always possible. If you and your spouse are not able to come to an agreement, the court will step in, and a judge will make these decisions for you.

Types of Significant Decisions

What used to be known as “child custody” is now called “allocation of parental responsibilities” in Illinois. In general, significant decision-making responsibilities include any decisions that must be made about the child’s life. The judge can allocate the right to make each of these decisions to one or both of the parents. Decision-making responsibilities that will be allocated include:

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Mokena divorce QDRO lawyer

Property division can be one of the most contentious portions of your divorce. Even after just a few years of marriage, you and your spouse have probably commingled some of your separate property and acquired quite a bit of marital property. In Illinois, marital property is defined as any assets or debts that you or your spouse acquired during the marriage. All marital property must be divided before you can finalize your divorce -- including your retirement accounts. These can have both marital and non-marital characteristics, which is why they can be so difficult to deal with. Certain types of retirement accounts require certain procedures in order to divide them in accordance with the law. A knowledgeable asset division attorney can help you determine what kind of steps you must take to divide this valuable marital property.

Is Your Retirement Account Marital or Nonmarital Property?

As a general rule of thumb, any retirement accounts that either spouse acquired or participated in during their marriage are presumed to be marital property. These may include pension benefits, defined contribution plans and accounts, individual retirement accounts, and non-qualified plans. If you believe that your retirement account or pension should not be considered marital property, you must prove to the court that your retirement benefits were acquired through a method that would deem them to be nonmarital property, such as through gift or legacy. In addition, your retirement benefits could be specifically excluded from the marital estate through a valid prenuptial or postnuptial agreement.

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Orland Park fathers' rights lawyer

The domestic landscape has greatly changed from what it was 20 or 30 years ago. More fathers are stay-at-home dads than ever before, and many mothers earn incomes equal to or higher than their husbands. Though not all families are set up that way, the general attitude toward men as caretakers has become much more accepting. When a couple goes through a divorce, most fathers still want to play an active role in their child’s life, though they may feel discouraged and disadvantaged when doing so. Certain topics are still skewed in the woman’s favor in many courtrooms, even though the judge may not necessarily mean to do this. If you are a father who is going through a divorce, you should understand how certain issues may affect your rights as a father in Illinois.

Spousal Maintenance

The idea of spousal maintenance was originally created to allow wives who got a divorce to continue to share a portion of their ex-spouse’s income. This occurred mostly in the days when the women were predominantly stay-at-home mothers who did not have careers and did not earn their own income. 

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