Pesce Law Group, P.C.

FREE CONSULTATIONS 630-352-2240

Naperville | Oak Brook | Burr Ridge | Lake Forest | St. Charles

Posted on in Divorce

Naperville divorce attorneysMaking the decision to get divorced is never easy and the process of ending a marriage can be painful and tedious. Understandably, many spouses want their divorce to be over as soon as possible. If you have decided to end your marriage in Illinois, you may be wondering, “How long will it take for my divorce to be finalized?” The answer will depend on a wide variety of factors including the married couple’s life circumstances, wealth, and ability to cooperate during the divorce process.

Complex Assets and High Net-Worth Will Complicate Property Division

Illinois divides marital property according to equitable division laws. Instead of property being split exactly evenly with each spouse receiving 50 percent of the marital estate, property is divided according to what is fair or equitable. The more property and debt a couple has accumulated during marriage, the more work it will take to divide this property and debt during divorce. The amount of time it will take for property division decisions to be finalized will largely depend on how well the couple cooperates, the value of their assets, and the type of property owned. Complex assets like retirement plans, pensions, and stock options can be harder to valuate and divide than other assets. If the couple has other complex investments such as a family business, the divorce process will likely take longer than average.

Disagreements Will Lengthen Your Divorce

When two people get married, it is not only a romantic union, but also a financial union. Spouses share assets, property, funds, and make joint purchases together. When disagreements about property division arise, this can extend the divorce process. Another way that a divorce becomes much more complex is when spouses disagree about how to share custody of children. Child custody is called the allocation of parental responsibilities in Illinois.

...

DuPage County divorce attorneysThe decision to end your marriage is never an easy one, but perhaps no other group has as difficult of a decision to make as parents. Many parents try everything they can to stay together, but ultimately decide that they simply cannot make their marriage work. If you are a parent who has decided to divorce, you probably spend a lot of time worrying about how the divorce will affect your children. While it is likely that the transition will be challenging for the whole family, children are fully capable of living a happy, healthy life with divorced parents. Read on to learn the top three tips experts say will help your children cope with your divorce.

Tip #1: Do Not Fight in Front of the Kids

The number one thing that mental health and child development experts say not to do during divorce is to fight with your spouse in front of the children. Because children naturally have a self-centered view of the world around them, they often think that parental arguments are somehow their fault. It is best to keep adult conversations away from the children whenever possible. If you need to have a heated discussion with your spouse, try to find a place which is out of kids’ earshot to do so.

Tip #2: Allow Children to Express Their Feelings When They Are Able

Children can have a wide range of reactions to the news that their parents are getting divorced. While some will immediately start crying and expressing their sadness about the split, others will not immediately be ready to discuss their feelings. Try to give children the space they need to process the complicated emotions that come with this major life change. Let them know that you are available to talk and answer questions, but do not force the conversation. When children are ready to talk, they will, as long as they feel safe to express themselves.

...

Naperville divorce attorneysFormer NBC news anchor Matt Lauer’s wife of 20 years has formally filed for divorce. The couple is seeking an uncontested divorce, but many factors will likely complicate and possibly draw out the split. Lauer is estimated to have made over $100 million during his tenure at NBC, and the couple has invested much of this money into extravagant real estate purchases. Not only is the couple quite wealthy, but they have also been married for two decades and have three children together.

Couples who divorce after a long marriage often experience a much different dissolution process than couples who have had short marriages. If you are considering ending your long-term marriage, there are several considerations you should keep in mind.

You or Your Spouse May Be Eligible for Spousal Support

Spousal support, also referred to as spousal maintenance or alimony, is not awarded in every divorce case. Illinois family courts consider many factors when determining whether or not spousal support is appropriate. These factors include but are not limited to:

...

Naperville divorce attorneysMany women, and some men, change their last name to their new spouse’s last name when they get married. This is a meaningful tradition for many. Unfortunately, it is currently much easier for people to change their name when they get married than when they get divorced. An archaic rule in Illinois law makes the current process for changing your last name much more difficult than it needs to be. Illinois Senator Cristina Castro hopes to change this.

Current Law Regarding Name Changes

For many people, changing your last name to that of your spouse is an important part of getting married. Currently, the process for a name change in Illinois is much easier if you have a marriage certificate. However, the process for changing your name after divorce is much more involved. In Illinois, there is currently a requirement that anyone seeking a name change to must publish a notice of that change in a newspaper. However, this requirement is lifted for individuals who can show a court-issued marriage certificate. While this works well for those getting married, what about people getting divorced?

As Stephanie Johnson, Aurora, Illinois resident puts it, “It’s completely intrusive and ridiculous that I have to publicly announce this in a newspaper.” Understandably, most people getting divorced do not wish to make an announcement about it in the newspaper. Not only is this an invasion of their privacy but it also costs money to print an announcement in a newspaper.

...

DuPage County high net worth divorce lawyerWhen Amazon founder and “world’s richest man” Jeff Bezos announced his divorce from his wife MacKenzie Bezos, the media called it the most expensive divorce in history. Jeff Bezos’s estimated net worth is an astounding $131 billion. When wealthy individuals or business owners get divorced there are many additional factors which must be considered. Because there is so much at stake, it is crucial that divorcing high-net worth individuals seek counsel from a knowledgeable divorce attorney with experience handling high asset or high net worth divorces. If you own a business or have complex investments and a high net worth, make sure to avoid these common mistakes during divorce.

Rushing the Divorce Process

When a marriage ends because of an affair or other hurtful scenario, the couple often wants the divorce to be finalized as soon as possible. Even couples who have not had a dramatic end to the marriage may want to get the divorce over with quickly so that they can move on with their lives. Unfortunately, high-net worth divorces are rarely speedy. Business valuations or asset valuations could take months or even longer to complete. In addition to your attorney, you may require help from a financial advisor, forensic accountant, or other professional in order to sort out your finances during a high net worth divorce. When divorcing couples rush, they can make hasty decisions which end up costing much more in the long run. While it is understandable that you want your divorce to reach a resolution as quickly as possible, rushing or skipping important steps in the divorce process can lead to more trouble than it is worth.

Letting Emotions Dictate Your Divorce Settlement

If you are like many divorcing individuals, you may have feelings of guilt, regret, anger, or resentment. While these feelings are completely normal, it is critical that divorcing couples make decisions based on fact instead of emotions. When emotions drive divorce decisions, mistakes can be made which lead to more regret in the future. For example, the spouse who wanted the divorce often feels tremendous guilt for leaving his or her partner. In an attempt to absolve himself or herself of this guilt, he or she may agree to an exceedingly unfair division of property or spousal support arrangement. Because the consequences of the decisions made during divorce can last years or even a lifetime, it is crucial to make decisions based on facts and advice from divorce and financial professionals.

...
Back to Top