Anne Prenner Schmidt, Esq., Master of Laws
Couples can agree, before (prenuptial agreement) or after (postnuptial agreement) marriage, on how assets will be divided upon death or divorce. Postnuptial agreements essentially function the same as premarital agreements, and parties can contract almost anything in...
Courts in Illinois must focus on the child’s best interest when allocating decision-making responsibilities between parents or guardians. Under 750 ILCS 5/602.5(a)[1], judges are not required to equally allocate decision-making responsibilities to each parent; so in a...
Unlike many other states which refuse to opine on college costs of emancipated children, Illinois is one of the few states that has jurisdiction over divorcing/divorced parents (or parents who have never been married with college age children) and that can order them...
Our firm is often approached by parties and counsel to determine the present value of a future pension. The goal being to assign an exact dollar amount to a future payout in order to offset an asset currently held in the marital estate. Red flags immediately are...
Navigating property division during a divorce can be an emotional and exhausting journey. At times, spouses find it easier to simply split marital property equally, 50/50 not knowing that other division options may be available. Both parties are ready to close one...
Often when you get divorced Individual Retirement Accounts (IRAs) can be one your most important assets both emotionally and financially. Unfortunately, it is common for these assets to be divided at the last minute in settlement, and in doing so attorneys can omit...
If you are looking to settle your divorce in an amicable fashion, it may be in your best interest to work with a mediator. A mediator is an impartial individual who seeks to facilitate a productive dialogue between yourself and your spouse. Let's take a look at some...
No matter your feelings toward your spouse, you may hope to avoid an acrimonious and costly divorce. You two might have agreed that litigating your split is unnecessary and are considering mediation. Yet, you may wonder whether you can resolve all your disputes...
A divorce can take many forms. From a contentious, emotionally charged process to the two parties genuinely working together to find a mutually beneficial compromise, numerous factors can influence how the process unfolds. Divorce mediation, however, favors the latter...
While the most common way to end a marriage is litigation, mediation can be an excellent alternative. This method for divorce is gaining popularity because it is perceived as healthier and more peaceful. As the couple makes decisions on all matters of the divorce...