What Happens to Your Small Business in an Illinois Divorce?

On behalf of Michael J. Smith, Attorney at Law, LLC
Mar 10,2021

When a small business must be considered during the division of property in a divorce, we understand the challenge the situation entails. Before the division of property in an Illinois divorce, “marital” and “non-marital” property must be distinguished from each other. Sometimes, throughout the course of a marriage, a spouse may be added as an […]

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Maneuvering a High Asset Divorce During an Unprecedented Time

On behalf of Michael J. Smith, Attorney at Law, LLC
Feb 09,2021

How Are Assets Divided in Illinois High Asset Divorces? Illinois is an “equitable division” property state, which means that instead of being divided in half, a couple’s property will be split equitably, or fairly. However, this process becomes more complicated in a high net worth divorce, due to the fact that more assets exist. There is also […]

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How Is Alimony Calculated in an Illinois High Asset Divorce?

On behalf of Michael J. Smith, Attorney at Law, LLC
Jan 20,2021

In an Illinois divorce where the combined income of both spouses is less than $500,000 there is a particular mathematical formula used in order to decide how much alimony will be awarded. In high asset divorces however, this mathematical formula is not utilized. Instead, a judge will take certain factors into consideration in order to […]

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