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What Happens to Our Rental Properties if We Get Divorced?

 Posted on November 10, 2022 in Divorce

b2ap3_thumbnail_shutterstock_1270775542-min.jpgMany people buy real estate properties and rent them out to individuals or businesses for profit. Owning rental properties can provide consistent income during a marriage, however, these same properties can cause significant legal and financial headaches during divorce

If you own rental properties and you are ending your marriage, it is important to understand your rights and responsibilities regarding the properties themselves as well as the income generated by the properties.

Marital Versus Non-Marital Property

Assets acquired by a spouse during the marriage are generally considered marital property jointly owned by both spouses. Property that is acquired before the marriage is non-marital property. However, there are several exceptions to these rules. Property that is excluded from the marital estate through a prenuptial agreement or other marital agreement is non-marital property regardless of when or how it was acquired. Property, including real estate, acquired through inheritance is usually non-marital property. Non-marital property can also become marital property if both spouses contributed o the increased value of the property.

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Considering a Trial Separation? Know the Potential Risks

 Posted on November 02, 2022 in Divorce

palatine divorce lawyerWhen a married couple finds themselves frequently arguing, facing the repercussions of an affair, or simply falling out of love, they may decide to try a trial separation. The hope is that by spending some time apart, the couple will be in a better position to decide what to do next. 

Divorce is a huge decision and not one that should be taken lightly. By living separately temporarily, the spouses may have the space they need to figure out whether divorce is the right step.

When it comes to trial separations, results vary. Some separations end with both parties realizing how much they love each other and wish to remain married. Other times, trial separations end with divorce papers. If you are thinking about a trial separation, make sure to consider the following.

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Supervised Visitation and Other Parenting Time Restrictions in Illinois

 Posted on October 31, 2022 in Child Custody

palatine child custody lawyerIllinois Courts presume that it is ideal for a child to have both of his or her parents involved in his or her life. However, this is a rebuttable assumption. Ultimately, the Courts determine all child-related decisions based on what is in the child's best interests. If there is evidence that a parent's involvement in a child's life is harmful or dangerous, the Court may implement parenting time restrictions. Supervised parenting time or supervised visitation is one of the most common types of parenting time restrictions but it is just one of several restrictions the Court may enforce.

Conditions and Limitations on Parenting Time

Illinois law defines a parenting time restriction as any condition placed on a parent's parenting time. Courts only limit parenting time in this manner if the Court finds that unrestricted parenting time would "seriously endanger the child's physical, mental, moral, or emotional health." 

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Divorcing a Spouse with an Opioid Addiction 

 Posted on October 26, 2022 in Divorce

palatine divorce lawyerAccording to a recent report, nearly 75,000 individuals in Illinois suffer from Opioid Use Disorder. Drug addiction involving opioids like oxycodone, morphine, heroin, and fentanyl can absolutely devastate a person's life. These substances are so powerful that they often consume an individual's entire world, leading to financial instability, criminal activity, and the breakdown of the family unit.

If you are divorcing a spouse with opioid addiction, you are not alone. Many individuals in Illinois find themselves in this difficult situation. The person you are divorcing may bear little resemblance to the person you married. If your spouse is like many suffering from substance abuse, addiction may have changed him or her dramatically. Consequently, protecting yourself and your finances is paramount during the divorce process. 

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How Does a Mediator Assist a Divorcing Couple? 

 Posted on October 17, 2022 in Divorce

palatine divorce lawyerMany people have heard of divorce mediation, but few understand exactly what it entails. If you are planning to end your marriage, you may be interested in ways you can reduce conflict and increase cooperation during the divorce process. Divorcing spouses who can reach an agreement about the allocation of parental responsibilities, division of marital property and debt, and other important matters are typically more satisfied with the outcome of their divorce than those who go to Court and let a Judge make decisions for them. Resolving divorce issues through mediation or lawyer-assisted negotiation is also much less expensive than a divorce trial. This blog will outline the general principles of divorce mediation and explain how a mediator may be able to help you and your spouse reach an out-of-Court agreement on any disputed issues during divorce.

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5 Steps for Individuals Undergoing a High Net Worth Divorce

 Posted on October 02, 2022 in Divorce

palatine high net worth divorce lawyerGetting divorced is always a difficult process, but it can be even more complicated when there are high levels of wealth involved. If you are going through a high net worth divorce, there are some special considerations you need to take into account in order to protect your interests.

Hire an Experienced Attorney

When either spouse has a high net worth, you need to make sure you have an experienced attorney on your side who knows how to navigate these kinds of cases. The wrong lawyer could end up costing you substantial money, so you need to do your research and find someone who has experience handling cases like yours.

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Is Your Spouse Stalking You During Divorce? Get Help Right Away

 Posted on September 21, 2022 in Divorce

palatine divorce lawyerDivorce is not exactly known for bringing out the best in people. Yet despite conflict being common during divorce, your spouse should not be subjecting you to behavior that makes you afraid of him or her. Unfortunately, some spouses attempt to scare, coerce, or intimidate their partners during divorce out of a desire for revenge, to get the upper hand in divorce negotiations, or simply to be a jerk. 

This is not normal behavior, and you do not have to tolerate it. If your spouse is stalking or harassing you, your children, or any other member of your family, you may be able to take legal action in Illinois Court to stop the behavior. 

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Are Millennials Less Likely to Get Divorced than Previous Generations? 

 Posted on September 21, 2022 in Divorce

palatine divorce lawyerMillennials in America are old enough, big enough, and diverse enough to have become the most closely studied generation in the world. Larger than the Baby Boomers and more ethnically diverse than any other generation before them, Millennials make a fascinating case study. Closely tracked by almost every measure, we now have excellent statistics on the behaviors of Millennials in every major aspect of life - how they save, how they spend, what they wear, and, of course, how frequently they get married and divorced

People who are reluctant to get married often cite the most famous divorce statistic of all: 50 percent of marriages end in divorce. Yet, when it comes to Millennials, this may not be true. Data from reputable research organizations suggests Millennials are forging a path of their own when it comes to marriage and divorce. 

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My Ex Is Not Paying Child Support. Can I Stop Letting Him or Her See the Kids?

 Posted on September 19, 2022 in Child Support

b2ap3_thumbnail_shutterstock_252726718-min.jpg Divorced and unmarried parents of minor children in Illinois often rely on their child’s other parent to make timely child support payments. When the parent responsible for making payments falls behind on his or her payments or stops paying altogether, it can leave the receiving parent in a terrible bind. Parents who are desperate to get child support payments back may understandably want to escalate matters but may be reluctant to get a Court involved because they fear the expense and hassle that could ensue. 

Unfortunately, parents who stop following the parenting time schedule described in their Court-ordered parenting plan because of unpaid child support can face legal consequences, just as a parent who stops paying child support can. Instead, it is better to follow the law and allow a Court, with the help of an experienced attorney, to take action against someone whose child support payments are in arrears. 

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Will I Lose My Retirement In My Illinois Divorce? 

 Posted on September 12, 2022 in Divorce

palatine divorce lawyerOver the course of many years of marriage, couples generally accumulate a large sum of money for retirement. Whether through careful saving and investment, working hard and earning a pension, or any combination of other investment strategies, Illinois couples depend upon their retirement plans to carry them throughout their later years. 

The prospect of divorce can feel very threatening to your retirement income, and rightfully so; marital assets must all be divided in divorce and this can leave both you and your spouse with more expenses and less resources. However, with careful planning, rigorous negotiation, and excellent legal representation, there are ways for you to protect your retirement goals during divorce. Here are three great steps to help you begin. 

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Nicholas W. Richardson is an experienced divorce lawyer and mediator whose comprehensive legal knowledge, commitment to clients and reputation for results bring lasting solutions to your problems.

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