On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Collaborative Law on Thursday, February 16, 2012
The end of a marriage does not necessarily have to mean bitterness, acrimony, anger and lengthy courtroom battles. In some instances, spouses have the capability and cooperation to realize that sometimes these things just do not work out, or may have been a mistake from the beginning. For Illinois couples confronting such realizations and contemplating divorce, collaborative law may be an appropriate option.
Taking this approach means attempting to negotiate the terms of a divorce settlement agreement in a more amicable way. This may especially be beneficial when there are children involved. People these days live very public lives on social networking sites, and bitter and angry messages splashed across Facebook or email can end up hurting both the parents and the children. Choosing how to announce a divorce can be tricky if a couple is trying to work together.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in High Asset Divorce on Tuesday, February 7, 2012
Any Illinois couple who is going through a divorce may need to address many details and issues that come up. Whether a couple is affluent or not, there are unique challenges presented in each situation. One of the common issues that come up during a divorce is the division of property and assets. When a couple or spouse has a high net worth, however, there may be more importance placed on this particular section of the divorce.
High asset divorces may necessitate a deeper exploration of all assets. Because Illinois is an equitable distribution state, there is no insistence on strictly equal division of martial property. Understanding the size and extent of a marital state is typically the first step in dividing assets.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Child Support on Friday, February 3, 2012
Many parents in Illinois find themselves frustrated with the inflexibility of the current child support program. The calculations do not make sense for many parents anymore and many want to see the program improved and updated. In 38 other states, this has already been done and Illinois may be next.
Currently, Illinois child support rules state that the non-custodial parent must pay a flat percentage of that person's net income. The number is based on the number of children in the family. It does not take into consideration that the non-custodial parent may spend more time with the children, or that the custodial parent may earn more than the non-custodial parent.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Prenuptial Agreements on Wednesday, January 25, 2012
When couples get married, most do not like to worry about what may happen in the event of a divorce. In situations when young people get married, they may feel like they do not have any assets worth protecting yet. Therefore, many Illinois couples do not have a prenuptial agreement in place. However, this can be quite costly in the long run.
Prenuptial agreements are established to protect the assets of each spouse in the event of a divorce. Without an existing prenup, a couple will divide all the marital property equally between the two parties. Marital property may consist of any asset accumulated during a marriage, excluding gifts, inheritances and trusts.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Property Division on Wednesday, January 18, 2012
In many divorces, one of the most highly-charged issues can be the division of property. Under Illinois law, all the marital property must be divided equitably in a divorce. This includes the equity in the marital home.
One of the first steps a couple who is divorcing may take in dividing assets will be to determine the future of the marital home. Typically, a couple will need to decide who will retain the house. If one of the spouses would like to keep the house, he or she can buy out the other spouse. If this is a point of contention, a couple may decide to sell the home and split the value.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Collaborative Law on Monday, January 9, 2012
Many divorced couples have stories of what a nightmare the divorce process can be. Rest assured, though, there is a population of couples who go through a divorce and come out unscathed. They may even still remain friendly with their former spouse. Increasingly, Illinois couples are participating in mediation and negotiation in order to reach an amicable solution.
Couples who are interested in dissolving a marriage in a cordial way are working together outside the courtroom. Instead of leaving decisions up to a judge, a couple can participate in mediation and voluntary negotiations in a more active manner that can lead to a win-win situation. Additionally, this type of solution may be faster and less expensive.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in High Asset Divorce on Wednesday, January 4, 2012
When a couple decides to seek a divorce, there can be many reasons why the marriage ended. One common reason is that one spouse is simply no longer in love with the other. But what if one spouse has fallen in love with another person during the course of the marriage?
In an interesting case recently, a woman who believes the breakup of her marriage was the result of an affair has filed a lawsuit against the woman she believes is responsible. In some states it is possible to attempt to collect monetary damages from a third party believed to be responsible for the divorce under a so-called "heart balm law" which, at least in theory, is supposed to heal the injured spouse's broken heart.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Child Support on Thursday, December 29, 2011
A parent who is required to pay child support has a legal obligation to make financial contributions to his or her child's education and future. These payments are calculated by using a set of Illinois law guidelines. When a parent is unable to make the payments, however, legal action may be necessary.
Child support obligations are based on a parent's income and the number of children who are involved. More frequently, parents are requiring modifications to child support payments because of fluctuating incomes. It is not uncommon these days for a parent to lose or change jobs. When this happens, a judge may grant a modification to payments in order to adjust for the change.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in Prenuptial Agreements on Friday, December 23, 2011
The presence of a prenuptial agreement in divorces seems to be a popular subject as of late. Celebrities such as Kobe Bryant have been in the news because he and his wife did not have a prenuptial agreement drawn up prior to getting married, so she is in a position to collect $75 million as part of their divorce.
It may be a lesson learned here that prenuptial agreements may be beneficial. Some people not only have one drawn up, but they also choose to include more creative conditions in the document.
In all Illinois marriages, couples can choose to have a prenuptial agreement setup prior to the wedding. This agreement serves as a contract that states how a couple's assets will be divided in the event of a divorce. This can include property division and spousal support, which is also known as alimony.
On behalf of Joseph M. Lucas & Associates, L.L.C. posted in High Asset Divorce on Wednesday, December 14, 2011
As the year comes to a close and many people are busy and strained, a number of Illinois families are also dealing with the stress of a divorce. For some couples who have enjoyed an affluent lifestyle, the prospect of a divorce can be quite worrisome based on the amount of assets at stake.
When a couple has maintained a certain lifestyle for the duration of their marriage, spousal maintenance payments are likely going to be considered. These payments are intended to help a financially weaker partner maintain the lifestyle acquired during the marriage. For many couples, these alimony payments are a point of contention. Most people are primarily focused on protecting their individual financial security.
