If you are a business owner who is contemplating divorce, you may be wondering how the end of your marriage will affect your ability to continue owning and operating your business and generating income. This is a valid concern, and you may be worried that your divorce may affect both your personal life and your career, leading to disputes over the ownership of your business, as well as potential financial difficulties. By understanding how the divorce laws in Illinois may affect your business, the methods that may be used to establish the value of business assets, and your options for handling ownership of the business going forward, you can make sure you will be prepared to protect your interests during the divorce process.

Property Division and Business Assets

During your divorce, your marital property, which may include business assets, will be divided between you and your spouse. If the business is considered a marital asset, it will be subject to property division. As you determine how ownership of your business will be addressed during your divorce, you will need to consider the following:

• Was the business established or acquired during the marriage? If so, it will be considered marital property.

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Parents often disagree about how child custody matters should be handled. For example, one parent may wish to have virtually all of the parental responsibilities and parenting time, while the other parent believes that custody should be split 50/50. Parents may also disagree about where their child should go to school, the types of extracurricular activities or religious practices the child should be involved in, or countless other issues.

When divorcing parents disagree regarding child-related legal issues, the court may require the parents to attend mediation. If you are a parent who is planning to divorce, make sure you understand Illinois laws regarding mandatory mediation.

When Does the Court Require Mediation?

Typically, mediation is ordered by the court if the parents disagree about the provisions of the parenting plan. Mediation allows the parents to discuss the issue and work toward a solution without the court’s involvement. Illinois courts typically want to avoid child custody cases becoming highly litigious because this is not typically in a child's best interest. So, the first step is going to mediation.

For most people, their home is the single most valuable asset they own. Whether it is a house, condominium, townhouse, or another type of property, it is likely that the bulk of your net worth is tied up in real estate. This is one reason that determining what to do with the house during a divorce is so important - and often so difficult.

There are seemingly countless legal, financial, and personal factors to consider when deciding what to do with the marital home during divorce. Selling the home may allow a couple to pay off joint debt and begin their post-divorce lives with a fresh start financially. However, this may also require uprooting children, moving to a new neighborhood, or living apart from family and friends.

If you plan to end your marriage and are struggling with this decision, consider reaching out to a divorce attorney experienced in property division matters for help.

A divorce is a stressful process, and it is even more difficult if one spouse is hiding assets or lying about their finances. Divorcing spouses are required to provide an accurate account of their income and assets during a divorce. This information is used to determine child support, divide property and debts, and more. However, some spouses lie about money or hide assets during divorce.

It can be difficult to tell whether your spouse is being truthful during the divorce process, but there are a few signs that could indicate financial dishonesty. Knowing these signs can help you protect your rights and make sure you get the outcome you deserve.

Missing Documents or Bank Statements

If you have begun proceedings for a divorce in Illinois, it is important to keep an eye out for any missing documents or bank statements. If documents go missing or if your spouse stops providing you with financial information, this could be a sign that they are trying to hide something from you. Check with tax records and financial institutions to make sure all documents are accounted for.

The term "high-conflict divorce" may seem redundant. Afterall, every divorce involves conflict. However, some divorce cases are much more acrimonious than others. When divorcing spouses are unable to move past their anger, frustration and hurt feelings, the divorce process can become a bitter battle. If you are involved in a continuous separation or divorce, you know this firsthand. Here are some tips that may help you navigate a high-conflict divorce and ensure that your rights are protected.

Navigating a Contentious Divorce and Protecting Your Rights

There is no way to completely avoid the stress that comes with a high-conflict divorce. However, there are ways you can manage the conflict and pursue a favorable divorce outcome - even in the midst of extreme dissent.

• Hire the Right Attorney - When you are facing a contentious or difficult divorce, having an experienced lawyer who understands the law and knows how to navigate through the court system is crucial. Make sure you choose an attorney who is familiar with the common strategies used in high-conflict cases and will aggressively represent your interests.

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