Asset dissipation is a significant concept in divorce proceedings, particularly in Illinois. It refers to the intentional spending or waste of marital assets by one spouse during the divorce process. Recognizing and addressing asset dissipation can play an important role in ensuring a fair division of property.
At The Stogsdill Law Firm, P.C., we understand that many people approaching a divorce are seriously concerned about how the process may affect their finances. These fears can be dramatically worsened when asset dissipation is thought to be taking place. Our team of skilled lawyers has decades of experience identifying asset dissipation,
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Important Financial Documents in a Divorce
When facing a divorce, one of the most daunting aspects is often the financial implications. Our knowledgeable lawyer will tell you that understanding your financial situation and knowing which documents are essential to the divorce process. Your lawyer will tell you what financial documents you need during your Illinois divorce and why these documents are so important.
Bank Statements Give a Snapshot of Your Finances
Your bank statements provide a critical window into your financial life during your marriage. These documents detail every transaction while also revealing income, savings, and spending habits. Understanding this information is important for several
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Courtroom Etiquette in a High-Conflict Divorce
During divorce proceedings, tensions often run very high. There is no place where this is truer than in the courtroom. As you navigate all of the challenges the divorce process throws your way, it is important not to forget about the importance of courtroom etiquette. Believe it or not, courtroom etiquette, for better or worse, can even influence your case’s outcome. As a result, you must approach this situation with the guidance of a skilled lawyer who will be important for legal advice and for guiding you on how to best maintain yourself while in the courtroom.
Always Dress Appropriately…
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Dividing Retirement Assets in an Illinois Divorce
For a lot of people, especially those who are older, retirement assets may constitute the single largest asset that they have. In situations involving divorce in Illinois, the issue of dividing retirement assets can be especially stressful for people, as they fight to keep the assets they worked so hard to obtain. An experienced lawyer can help ensure you understand your rights and options, especially regarding Qualified Domestic Relations Orders (QDROs). QDROs are essential legal documents in the division of retirement plans when getting divorced. Here is what you need to know about them in Illinois.
What is a…
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How to Be a Great Parent During a Divorce
Divorce can be an incredibly difficult time for families, and experienced lawyers in family law often witness the emotional toll it takes on both parents and children. During this period of immense change, it is vital for parents to strive to be the best they can for their kids. Great parenting during a divorce means being present, nurturing, and creating a stable environment in which children can feel protected. Here are some strategies to help parents navigate this challenging time while ensuring their children feel valued and loved.
Spend Quality Time with Each Child Individually
One of the most impactful…
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What Are Commingled Assets in an Illinois Divorce?
When couples get a divorce in Illinois, one crucial concept that often arises is commingled assets. For couples contemplating divorce, understanding what commingled assets are and how they may impact the division of property is essential. Consulting with a knowledgeable lawyer can provide clarity on this often-overlooked aspect of divorce.
Defining the Basics of Commingled Assets
Commingled assets arise when separate property—owned by one spouse before the marriage—is intertwined with marital property. This blending creates challenges when it comes to determining ownership and the rightful division of assets during divorce proceedings.
In Illinois, property obtained during the marriage is…
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Steps to De-escalate a Contested Divorce in Illinois
Going through a divorce is often very tough, especially when both partners argue and disagree on many issues. If you are facing contested divorce proceedings in Illinois, having a good lawyer by your side can help greatly. There are also practical steps you can take to ease the tension and work toward resolving your divorce. Here is how:
Engage in Thoughtful Conversations
In contested divorce cases, speaking with your spouse may be a challenge. However, it can be hugely important, especially as you look to find any hope for common ground in your contested divorce. Here are some tips…
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Should We Tell the Kids We Are Getting Divorced?
It goes without saying that divorce is a very challenging time for most families, and one of the most pressing questions parents face is whether to inform their children about the situation. As you consult with your lawyer and figure out the particulars of what your Illinois divorce will entail, it is important to consider how the decision to get divorced will affect your kids. While it may be tempting to shield kids from adult problems, being open about divorce can help foster emotional understanding and resilience. Here are some reasons why it is a good idea to tell your…
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Emotional Survival Guide to Surviving an Illinois Divorce
In Illinois, the legal process surrounding a divorce is complicated. Not only is the legal process complicated, but handling the emotions associated with divorce can be difficult as well. Contact a lawyer to learn more about practical tips and strategies to help navigate the difficult emotional landscape of a divorce while ensuring you take care of yourself during this emotional time.
Acknowledge Your Emotions
The first step in surviving a divorce is to recognize and accept your emotions. Here is how to deal with them:
- Allow yourself to feel – It is totally normal to experience a wide range
…
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Three Things to Know About Grey Divorce in Illinois
As the population ages, the “grey divorce” phenomenon is becoming increasingly common. This term refers to the growing trend of older adults (typically those over 50) seeking divorce after long-term marriages. In Illinois, navigating a gray divorce presents unique challenges and considerations. If you are thinking about pursuing a grey divorce, you need to strongly consider hiring a qualified lawyer. Here are three important things to know about grey divorce.
Division of Assets and Financial Considerations
One of the most significant aspects of Illinois divorce, especially grey divorce, is the division of assets accumulated over the…
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Back-to-School Planning During an Illinois Divorce
As summer comes to an end, parents across Illinois are preparing for the back-to-school season. However, for those undergoing a divorce, this time can be especially challenging as both parents must coordinate educational needs amidst emotional and logistical changes. It is crucial to establish effective communication and prioritize the children’s best interests during these transitions. Discuss with your lawyer the most effective ways to balance your responsibilities as a parent and your responsibilities as someone going through divorce proceedings.
Establish Clear Communication Channels with the Other Parent
Open lines of communication are essential when coordinating back-to-school arrangements during an…
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How to Keep Assets Safe When Divorcing
Divorce is often a tumultuous time, not only emotionally but also financially. When splitting from your spouse, it is crucial to safeguard your assets to ensure that after your divorce, you are able to maintain financial stability. Contact a lawyer to learn more about what critical steps you can take to keep your assets safe during a divorce.
Understand How Much Money You Have
The first step in protecting your assets is understanding exactly what you have. This means taking a comprehensive inventory of all your financial accounts, property, investments, and any other assets. To do this, you will…
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Three Legal Strategies for Complex Divorce in Illinois
Deciding to end a marriage and pursue a divorce is a big decision. Once that decision is made, the real work begins. In Illinois, couples frequently find themselves grappling not only with emotional challenges but also with legal hurdles that can add complexity to an already difficult situation. As couples seek to untangle their lives and go their separate ways, understanding the options available for resolution is crucial. Contact a lawyer to learn more about three strategies that can help couples navigate complex divorces in Illinois.
Negotiation: The Traditional Divorce Approach
Negotiation remains a time-honored method for resolving disputes…
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What to Know About Cryptocurrency and Divorce
As the popularity of cryptocurrency continues to rise, it increasingly becomes a factor in divorce proceedings. For couples in Illinois, understanding how cryptocurrencies are treated during a divorce can significantly impact asset division and financial settlements. If cryptocurrency is a factor in your divorce, discuss with an attorney what implications it may have on your divorce proceedings. Your lawyer will be able to
provide clear insights for individuals facing a divorce involving cryptocurrencies.
Understanding Cryptocurrency and Marital Property
In Illinois, all property acquired during the marriage, including cryptocurrency, is generally considered marital property and subject to equitable distribution. This means…
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Is There a Way to Ensure the Court is Fair During My Divorce?
Through a stressful process like divorce, many individuals worry about the fairness of the court’s decisions. Luckily, there are proactive steps you can take to help ensure that the divorce proceedings are fair and equitable. Regardless of the specifics involved in your divorce, hire an attorney to represent you through these proceedings. Failing to hire a lawyer will increase the chance of a divorce settlement that is unfair to you.
The Advantage of Filing for Divorce First
If you find yourself headed for divorce, consider filing first. This strategic move can help frame the issues for the court and…
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Am I Responsible for My Spouse’s Credit Debt in the Divorce?
Divorce can feel like a financial whirlwind. Questions like, “Who pays what?” can be especially concerning when debt is involved. A significant question many people wonder in divorce is whether he or she will be responsible for his or her spouses’ debt. If you are getting divorced in Illinois and have questions about debt, discuss these questions with a trained attorney.
The Basics of Debt Division in Illinois
Following the principle of equitable distribution, Illinois law states that any debts obtained over the course of the marriage will be required to be split fairly between the spouses. Suppose your…
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