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Tuesday 18, Oct, 2016

Three Things that can Complicate Your Divorce

Learn What Can Complicate Your Divorce And How To Avoid Them With The Help Of A Chicago Divorce Attorney

Divorce can be a messy business. While it is true that there are some divorcing couples who agree to end the marriage and are able to compromise on the issues they need to resolve, these cases are few and far between. Often, the parties to the divorce have little desire to work together to find a resolution and may actually take steps to actively keep the other person from getting what they want. Below, we discuss three issues that can make your divorce much more complicated than it would be if they did not exist.

Children – When children are involved in a divorce, it is almost invariably more complicated than when childless couples decide to end their marriage. Parental instincts are strong for both men and women, and parents often have serious disputes about the way they want to share custody. Issues regarding the way that the children are raised, where they will live, the school they will attend, and the time-sharing arrangement can be extremely difficult to resolve.

High-net-worth – High-net-worth couples often have more complicated divorces than couples of more modest means. One reason for this is that high-net-worth couples have assets that may be difficult to assess and value without expert analysis. Additionally, people who have a high-net-worth when they enter into a marriage often use prenuptial agreements, which, in the event of a divorce, could be the source of highly contested litigation in the courts. Finally, high-net-worth couples often simply have more assets over which to fight, including investments, multiple properties, and more.

A Family-Owned Business – Family-owned business can make a divorce extremely complicated. In many cases, it is clearly a better idea to continue the business rather than wrap it up. The best case scenario is for the divorcing couple to continue operating the business as-is and simply get divorced and separate their personal finances. Unfortunately, this is not always possible because of the relationship between them. Two options that are often explored include the following:

  • Determining the value of the business and having one spouse buy out the other. Often, the buying spouse will compensate the selling spouse with marital assets of equivalent value in excess of the equitable amount to which he or she is entitled.
  • Liquidating or selling the business and splitting the proceeds between the parties.

Call a Chicago Divorce Attorney Today to Schedule a Free Consultation

The law regarding divorce in the state of Illinois is extremely complex, and retaining an attorney is a good idea even if none of the factors discussed above apply to your case. The Chicago divorce lawyers of the Arami Law Office are committed to vigorous and aggressive representation and work closely with our clients to fully understand their goals. To schedule a free consultation with one of our lawyers, call our office today at 312-212-1399.

 

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