Divorcing spouses must take steps to protect their finances and credit early on in the divorce process. The impact of not doing so can last for years after the ink on the divorce decree dries. In order to protect assets, income, and credit, the following are steps that everyone going through a divorce must take. (Article continues below Infographic) Start with an Asset/Debt Inventory It is important to know where all the money is, and how much is there. The asset inventory should … [Read more...]
Archives for November 2016
Understanding Post Nuptial Agreements in Illinois
A post-nuptial agreement can protect assets and define debts in the event of a divorce. Under Illinois law, a post-nuptial agreement is a legal contract between a husband and wife. Usually drawn up by top Chicago divorce lawyers, it is a binding contract that is enforced in Illinois courts during a divorce. What is a Post-Nuptial Agreement? Unlike a prenuptial agreement that's signed before marriage, a post-nuptial agreement is executed and signed after a couple gets married. It clearly … [Read more...]