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Kane County divorce attorneyDivorce is complex; however, dividing property is often the most complicated aspect of a process that can take a long time. Nowhere is this better illustrated than in the procedure for valuing and dividing a family-owned business. Between personal preferences and the market rates, dividing the value of a business will often create major issues during the proceedings.

Valuation Basics

During a divorce, Illinois courts only have the ability to divide marital property. A family business usually qualifies if it is run by both spouses, or if one spouse owns a controlling interest—the rationale is that the spouse working there will bring home paychecks earned by improving the business’s value. If the business is deemed marital property, it must be valued so that it and the couple’s other assets can be divided equitably.

Kane County family lawyerPrenuptial agreements have become popular among marrying couples. One of the most-cited reasons for such an agreement—sometimes called a prenup—is that the couple wishes to prepare for the possibility of a divorce, in the event that it occurs.

Reasons for a Prenup

Divorces in Illinois are fairly common. According to the Illinois Department of Public Health, there were about 69,500 marriages and nearly 29,500 divorces in 2013. Given these statistics, a prenuptial agreement between the spouses that details what will happen if a divorce occurs may be prudent.

Posted on in Mediation

Geneva family law attorneyGiven the current backlog in Illinois courts, many couples are choosing to forego the traditional court case when they divorce, opting instead for alternative methods such as mediation or collaborative divorce. There are multiple reasons that many are choosing to eschew the courts, but perhaps the most common is because mediation is arguably easier and less time-consuming. However, it is not for every couple, and doing research on the issue will help you decide what is best for you.

Advantages of Mediation

For many couples, the advantages of mediation are numerous. If you and your spouse are able to discuss issues amicably, mediation can be cost-effective and efficient, as you will essentially be drawing up your own divorce decree. The mediator is simply there to guide you and advise on any relevant points of law. If this is possible for you and your soon-to-be-ex spouse, you may be able to avoid the significant time and money investment, to say nothing of the psychological cost, of going to court.

Kane County divorce lawyerOften, the number one fear of parents contemplating or currently going through a divorce is that it will negatively affect the children. Unfortunately, there is no silver bullet cure for the pain caused by ending a marriage. Getting a divorce is complicated and messy, but this upheaval does not last forever. There are steps you can take to lessen the burden on your children and help them to not only navigate this new family structure but to thrive in it.

Staying Together May Be Doing More Harm Than Good

Some couples consider divorce completely out of the question and commit to “staying together for the kids” even if they are obviously miserable together. Such couples believe that the children living with both parents at the same time is better for them than a shared custody arrangement. Research has shown, however, that children who live in a home with fighting, arguing, and tension are deeply hurt by this.

kane county family lawyersIn juvenile court, it is sadly not uncommon for parental rights to be terminated if doing so is deemed to be in the best interests of their children. Parents with a history of violence or substance abuse problems, among others, may be deemed unfit. However, the system does not always shut the door irrevocably. If a parent is able to demonstrate that he or she has changed and that it would now be in the best interest of the child to allow the parent to have time with the child, there may be a way to get it.

Each State Has Its Own Laws

Most states do not permit restoration of parental rights in any but the most unusual cases. Illinois is one of nine states that does have a procedure to restore parental rights in certain situations; the other 41 generally do not. The general prevailing view is that certain faults can be corrected if proof of a significant change in circumstances is shown.

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