The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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DuPage County division of assets lawyerMany people who get a divorce state that finances were the reason or at least played some part in the breakdown of the marriage. For those couples--and many other couples--the stress of money does not stop there. Many divorces are also quite contentious and filled with anxiety over the couple’s financial issues. Most couples have their assets intermingled in some way, and when they get divorced, they have to figure out how to separate them. Below are a few common financial issues that divorcing couples face and how best to deal with them.

Assessing Your Assets

Not all assets were created equally. Before you begin to do anything involving your finances, you need to understand them. Make a list of every asset you have. These can include:

  • Cash

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Illinois divorce attorneyIn today’s world, there is more than one way to do almost everything, including getting a divorce. Historically, most divorces were litigated, meaning they were settled in court by a judge, rather than between the parties themselves. These days, more and more couples are choosing mediation and alternative forms of dispute resolution when it comes to divorces. One such alternative is a collaborative divorce, which brings many benefits to the table, but this type of divorce only applies to some situations. If you are considering a collaborative divorce, here are a few things you should know:

  1. You and Your Spouse Have to Agree to Settle Outside of Court

Before you even begin the divorce process, you, your spouse, and both of your attorneys must agree to settle the divorce in a respectful, honest manner outside of the traditional court system. You will create and sign a document called a Participation Agreement, and this is a legally binding contract. If you fail to settle the divorce through collaboration, you and your spouse will both have to find new counsel and go the traditional litigated route.

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Illinois divorce attorney, Illinois family lawyer, Illinois child custody lawyer,Those who have gone through a divorce will tell you that it is no easy feat. In addition to all of the logistics of a divorce, it also comes with emotional worries and changes, especially to children. Children are usually flexible and good adapters, so most children are fine after a short period of reassurance from their parents. In order to ensure that your child understands the divorce and transitions to their new life, it is important that you understand how to talk to your children about the divorce. Here are five tips that might make telling your kids a bit easier:

  1. Choose the Right Time to Tell Them

Timing is everything. If you and your spouse are just fighting, do not tell your kids that you are getting a divorce because you threatened one in a fight. Kids can be sensitive about divorce, so until your divorce is finalized or close to being finalized, you should hold off on the conversation.

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The marriage only lasted five years, but the divorce has just surpassed the 10 year mark. The case has already produced almost 600 motions and rulings – and there’s no end in sight.

This  long divorce and child custody case is playing out in a Connecticut family court between David Zilkha, a former investment advisor, and his ex-wife, Karen Kaiser. It began on August, 13, 2003, when Kaiser filed the action against Zilkha, saying the marriage had “broken down irretrievably.” The divorce was granted in May 2005, but the battle has continued to wage between the two over child custody issues involving the couple’s 12-year-old twin son and daughter and legal fees.

KerryZilkha is a British citizen and now lives in London. He hasn’t seen the children in four years, and accuses Kaiser of repeatedly lying to the court about him and alienating the children from him. A court ordered mental evaluation allegedly determined that the father has such a severe narcissistic personality disorder that he shouldn't be allowed to see the children. Kaiser says he can see the children under supervised visitation but he refuses. He claims that it would cost him $5,000 per visit.

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Getting a divorce can be a lengthy, expensive and complicated process. Often, the parties make the process even worse through their behavior. Though this may be understandable due to the emotionally charged nature of divorces, it may cause divorce judges to punish the misbehaving spouse.

Rigs Aurora family law attorneyTake the case of Amy and Sunil, for example. After getting married and having two children, they enjoyed a comfortable life-style mainly due to Sunil earning over $400,000 per year working as a doctor. While Amy contributed to the marriage, her main role was raising the two children.

Eight years later, Amy filed for divorce in DuPage County. In her divorce petition, Amy alleged that Sunil was emotionally and physically abusive toward her and the children. While these types of allegations are not uncommon in divorces involving children, they caused the judge to appoint an independent representative for the children, and award custody to Amy, with Sunil only having supervised visits.

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The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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