Posts By: MICHAEL C CRAVEN

How Parenting Time Is Fairly Decided In Illinois

parenting time

If you are getting a divorce and have children, you may wonder who will get custody. However, the state of Illinois does not use the term ‘child custody’ regarding where the child lives or how the parent’s authority over the child is allocated after a divorce. Instead, since 2016, state law has referred to parenting time and parental responsibilities. Learn below how parenting time is decided in an Illinois divorce, then contact our Chicago child custody attorneys at Michael C. Craven for ...   Read more ...  

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Why High Net Worth Divorce Can Be Costly And Time-Consuming

high net worth divorce

Any divorce can be painful, but a high-net-worth divorce can be more costly and time-consuming. Below are common reasons why. If you have high net worth and are considering divorce, speak to our divorce lawyers in Chicago at the office of Michael C. Craven. More Assets To Divide Marital property must be divided equitably during an Illinois divorce, which may or may not be 50/50. When you and/or your spouse have a lot of assets and income, it often takes longer to identify, characterize and value...   Read more ...  

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Prenuptial Agreements Are Often Present In Illinois Divorce Cases

prenuptial

Couples who marry today are more than three times more likely to have a prenuptial agreement than a decade ago. People understand that a prenuptial agreement is not just for people with high incomes and extensive property holdings. Couples in every income bracket use prenups to help with property division in divorce. If you have questions about a prenuptial agreement, talk to our Chicago prenuptial agreement attorney Michael C. Craven. Prenuptial Agreement Overview A prenup in Illinois is a lega...   Read more ...  

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4 Main Areas Used To Decide Child Custody in Illinois

child custody

Child custody is one of the most challenging issues in a divorce. When the court addresses child custody, it will consider how major parenting decisions involve education, healthcare, extracurricular activities, and religion. It also will decide how much parenting time each partner receives. If you have questions after reading this article, Chicago child custody lawyer Michael C. Craven can help you with child custody issues. The Old Illinois Child Custody Law Previously, child custody law in Il...   Read more ...  

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How Illinois Deals With Property Division As An Equitable Distribution State

property division

States have various methods to address property division during a divorce. For example, community property states generally divide the property 50/50, but Illinois does not do this. Instead, Illinois is an equitable distribution state. This means the divorce court decides which spouse gets what based on an equitable standard. Property division issues can be contentious, so talk to Chicago property division lawyer Michael C. Craven for assistance. Illinois Is A No Fault Divorce State Illinois has...   Read more ...  

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Major Goals Of Prenups And Who Benefits From Them

prenuptial

So, you are marrying in Chicago at the Hilton Chicago or The Langham, Chicago. Couples who get married today are up to three times more likely to sign a prenuptial agreement than a decade ago. Prenuptial agreements used to be mainly for the wealthy, but couples in many tax brackets now use them. If you are thinking about a prenup, below is critical information. Questions? Ask a prenuptial agreement lawyer in Chicago at the law office of Michael C. Craven. What Is A Prenup? A prenuptial agreement...   Read more ...  

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