Posts Categorized: Divorce

The Rise Of ‘Gray Divorce’ In Illinois

As Chicago divorce attorneys, we have witnessed a steady increase in what is often called “gray divorce,” which is the divorce of couples over the age of 50. These cases are becoming more common throughout Illinois as longer life expectancies, changing personal goals, and financial independence reshape the dynamics of long-term marriages. Ending a marriage later in life can bring emotional and legal complexities that differ significantly from divorces involving younger couples. Property divi...   Read more ...  

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Preparing Financially For Divorce In Illinois  

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As divorce attorneys in Chicago, we know that financial preparation is one of the most important steps you can take when facing the end of a marriage. Divorce affects every part of your financial life such as your income, your home and other property, your debts, and even your retirement accounts. Many clients come to us feeling unprepared for how their financial future may change, and that uncertainty only adds to the stress of divorce. Illinois law provides guidelines for dividing assets, awar...   Read more ...  

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Executive Compensation In Illinois Divorces: Dividing Stock Options, RSUs, And Bonuses

executive compensation

When we handle high-net-worth divorce cases in Chicago, one of the most complex financial issues we address is executive compensation. Many corporate executives and professionals receive more than just a salary; they earn performance-based bonuses, restricted stock units (RSUs), stock options, and deferred compensation. These assets often have significant value, but because they don’t always vest immediately, they have unique tax implications, may not be transferable to a spouse, etc., div...   Read more ...  

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What You Should Know About Settling a Divorce Before the Trial

When a couple decides to get a divorce, they have a lot of options. Sometimes, the couple has more options than they realize. For example, a couple might begin the divorce process without realizing that they can settle it outside of court, rather than going through the litigation process. Although this option exists, it is not always possible for some couples. The best way for an individual couple to divorce depends on many factors present in their relationship and their goals for life after the...   Read more ...  

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Divorce Questions People Ask Answered By Chicago Divorce Lawyer

Chicago Divorce Lawyer Questions

In this Q&A with Chicago Divorce Lawyer Michael Craven, we will explore questions people also ask about divorce in the Chicago area.  Who can benefit most from an uncontested divorce? Actually, every couple would benefit from an uncontested divorce. There is no legal definition for what an uncontested divorce is. Legally, the definition is whatever you want. In my practice, an uncontested divorce is one in which both parties have reached an agreement or are close to reaching an agreement. ...   Read more ...  

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Do Both Parties Have to Agree to Divorce in Illinois?

If you are planning to file for divorce in Illinois, but you know your spouse does not want to move forward with the divorce, you may be wondering how Illinois divorce law handles such cases. In other words, you might want to know: Do both parties have to agree to divorce in Illinois? While a divorce case may be able to move more quickly and smoothly when both parties agree to the divorce and all terms of the dissolution of marriage, you should know both spouses do not have to agree to divorce i...   Read more ...  

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