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April 2016 Archives

Divorce has lasting financial effects

Divorce is not usually an easy experience to go through. Even with the most civil of dissolutions, divorcing spouses may find any number of things to argue about. When you increase the complexity of divorce by including issues like substantial assets or a controlling business interest, the process can become almost impossible to make it through without the help of an attorney. Fortunately, for spouses facing a high asset divorce, there are skilled attorneys, qualified to handle these complex issues.

Why would a spouse try to hide assets?

Some spouses resort to tricky tactics to hide assets from each other during divorce. Hiding assets is not just something that happens in high asset divorces; anyone who wishes to keep property out of a marital settlement agreement may try to hide assets. The main reason some spouses resort to this tactic is so that valuable property and assets are not included in the property division portion of divorce. Unfortunately for them, an experienced divorce attorney knows exactly how and why some spouses tried to hide assets.

Child support and college expenses

Conditional expenses such as college tuition and extracurriculars can be included when determining child support, but are not required to be covered by parents. If these expenses were not considered during the parent's divorce, one parent may be able to request ongoing child support to serve their child throughout their college years. They can do that by seeking a modification of the support order from the family court.

Becoming a part-time parent is difficult

We parent our children the best way we see fit. In times of divorce, parents can find it incredibly difficult to make the change from full-time, to part-time parent. This family law issue can be emotionally charged and create an incredible amount of stress, anxiety and frustration for parents. Many parents that face these changes want to know how they can support their case for primary physical custody. Fortunately, this can be done by working with an experienced family law attorney.

Get the most out of your divorce

It may be difficult to think about life after divorce. However, to successfully navigate your way through the process, life after divorce is exactly what you want to focus on. Divorce, like marriage, is filled with an abundance of important considerations, one of which is property division. Although you may not want to hold on to too much that reminds you of your marriage, you might not want to start from scratch either. In order to get the most from your divorce, you may want to focus on your future and work with an experienced divorce attorney.

Avoid costly mistakes during a high asset divorce

All divorces are difficult, but high asset divorces may be next to impossible. Not only are there substantially more financial aspects to consider, but the emotional strain divorce puts on spouses can make these decisions extremely difficult and may end up costing a serious amount of money. When high net worth couples face the dissolution of their marriage, one of the most valuable decisions they can make is to consult with an experienced legal professional about protecting their financial future.

What are the various types of child custody?

When facing divorce, there are several issues that are complex and confusing. Child custody is one of them. Understanding the different types of child custody can help divorcing parents identify important aspects of their situation that require attention and may be able to help them better convey their requests to the family court.

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Goddard & Malmquist
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Barrington, IL 60010

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