Divorcing couples have multiple options to divide the family business and its assets, so each party must weigh their needs and intentions to decide the best course of action. Divorce lawyers often help their clients with this process, giving them insight into the best way to tackle this challenging problem. Here are three options people can consider when deciding how to divide a family business. 1. The Business Goes to One Spouse Even in a family business, couples often find that one … [Read more...]

When entering a divorce in Illinois, every aspect of a person's life may be at risk, and their retirement savings are not immune to the proceedings. Individuals facing divorce need to understand this risk and what they can do to lessen their impact. As they work with a high net worth divorce lawyer, they must consider the impact of their decisions on their retirement plans. Retirement Plans in Illinois Are Typically Shared Marital Property Under Illinois law, retirement plans are typically … [Read more...]

Attorneys across the globe expect a wave of divorce filings when the COVID-19 restrictions lift and life returns to normal, but struggling couples can take measures now to reduce the strain on their marriages. The combination of the stress of quarantine and the closure of courts around the country is expected to create demand for divorce in the coming months. Strain of Staying Home Hurts Marriages In a typical marriage, one or both of the spouses leaves regularly to go to work or … [Read more...]