Chicago Divorce Attorneys Discuss Exit Strategy

Chicago Divorce Lawyers Help With Exit Strategies

Life in Chicago is a dynamic blend of urban excitement and Midwestern charm, with its iconic skyline punctuated by the Willis Tower and Wrigley Field. It offers a vibrant mix of culture, opportunity, and diverse neighborhoods. That's why many consider it a good place to start a family. But we Chicagoans are no more immune to the stresses of life than people elsewhere, and our family life and marriages are no more ideal. When a marriage is unsalvageable and it's time to consider divorce, the first step is to get a sense of your exit strategy.

The legal landscape of divorce in Chicago can be cold and windy. It requires careful planning and the guidance of an experienced attorney who understands the unique challenges of ending a marriage as gracefully as possible. The process is bound to be emotional, but it doesn't have to be so confusing.

An experienced Chicago divorce attorney like Nottage and Ward, LLP, can help devise an exit strategy that helps you leave the marriage behind and start a new, more fulfilling life.

Nottage and Ward, LLP, has been around for over 35 years and is listed by Martindale-Hubbell in its Bar Register of Pre-eminent Lawyers. Call (312) 332-2915 today to discuss your situation.

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Understanding Chicago Divorce Laws

Filing for divorce in Illinois requires meeting specific criteria. Residency requirements state that at least one spouse must have lived in Illinois for at least 90 days before filing. This ensures jurisdiction within the state.

As of 2016, Illinois has been a no-fault divorce state. No-fault divorces are based on irreconcilable differences, signifying that the marriage has irretrievably broken down. This approach simplifies the divorce process, avoiding the need to prove wrongdoing by either spouse. For a couple to proceed with a no-fault divorce, they must show that they have lived separately for at least six months. This separation does not necessarily mean living in different residences; it can also involve living apart under the same roof. This method, if feasible, is often recommended by Chicago divorce lawyers because it facilitates quicker resolution.

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Initial Thoughts on Allocation of Parental Responsibilities

In Illinois, decisions related to the allocation of parental responsibilities, also called custody decisions, prioritize the best interests of the child, focusing on factors that promote their well-being. Allocation can be categorized into two main types: legal custody, which involves decision-making authority over the child's upbringing, and physical custody, which concerns where the child lives. Courts often encourage joint allocation arrangements, meaning both parents stay involved in the child's life unless circumstances suggest otherwise.

During allocation deliberations, judges consider various factors, including each parent's living situation, their ability to provide for the child's needs, and the child's preferences if they are of sufficient age and maturity. Chicago courts may require mediation sessions to encourage parents to reach a mutual child allocation agreement. This process can help reduce conflict and foster cooperation, but if mediation fails, the case proceeds to a court hearing where a judge makes final child allocation decisions.

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Early Considerations for Dividing Marital Property in Chicago

In Illinois, dividing marital property follows the principle of "equitable distribution." This means that assets and debts acquired during the marriage are divided fairly, which is not necessarily equal. The court considers many factors to determine what a fair split would be, like the length of the marriage, each spouse's financial situation, contributions to the marital estate, and future earning potential.

You likely have belongings you owned before the marriage or obtained individually through inheritance or gifts. This is referred to as non-marital property, and this property will not be divided during a divorce.

Some Chicago divorces involve special assets such as real estate, businesses, and high-value investments. These assets often require a more detailed valuation. Real estate, including primary residences and investment properties, must be appraised accurately to determine their fair market value so that it can be divided. Similarly, businesses need thorough financial analysis to assess their worth, considering revenue, liabilities, and future growth potential.

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Protecting Yourself in Cases of Domestic Violence

If you are experiencing domestic violence in Chicago, several resources are available to provide immediate help and support. The Chicago Domestic Violence Hotline (1-877-863-6338) offers 24/7 assistance, connecting you with emergency shelters, counseling, and more. Additionally, organizations like The Network provide comprehensive services, including safety planning, legal representation, and support groups. For those needing immediate shelter, the city has several safe houses and emergency shelters dedicated to helping victims of domestic violence.

If you feel unsafe in the immediacy due to domestic violence, it is recommended you contact local authorities or emergency services to ensure your immediate safety. Then, you can consider obtaining an Order of Protection (also known as a restraining order). In Illinois, an Order of Protection can keep your abuser away from you, your home, and your workplace.

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What First Steps Should I Take Leading Into a Divorce?

Divorce decisions frequently involve emotional turmoil. Making the best decisions, however, requires keeping a clear head and being honest about your financial needs and desires. When considering divorce, start preparing an exit strategy by considering the following points:

• Find and make copies of important documents. Having a clear picture of the assets and debt in the marriage provides two advantages. First, it clarifies what financial resources are available and helps highlight where some of the major disputes might crop up. Second, it ensures that the marriage's financial status is no secret, which helps you know what to ask for and helps prevent your spouse from hiding or misrepresenting the amount of marital assets and/or debt.
• Hire an experienced Chicago family law attorney. An experienced divorce lawyer has been down this path before. Your attorney acts as your guide, keeping you away from the most likely dangers and pitfalls and helping you create and implement an exit strategy that works for you during the divorce and after.

Some of the invaluable assistance an experienced Chicago divorce lawyer can provide includes:

• Establishing the financial status of the marriage;
• Determining what you need and how to make the marital assets work for you;
• Helping you make decisions during the divorce, such as where to stay and how to discuss the divorce with your children or family members;
• Negotiating with your spouse and/or your spouse's attorney to ensure your needs and your children's needs are met;
• Advocating on your behalf in mediation and, if necessary, in court;
• Providing advice and direction as you prepare for your new life.

Business partners frequently set up a written "exit strategy" so that everyone involved is clear on where the business is heading and how the business can be brought to an end with every partner receiving his or her fair share. When it comes to your financial situation, a marriage has much in common with a business partnership - and a divorce often resembles the splitting up of a business. Creating an exit strategy is a smart way to protect your financial interests and ensure that you receive what you need and deserve from the marital assets to move forward with your life.

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Our Chicago Attorneys Can Provide Counsel for Your Divorce

At Nottage and Ward, LLP, we understand that divorce is an emotional experience. That's why we're dedicated to providing the clear-headed, rational advice and support you need during this turbulent time. With over 35 years of experience in family law, our firm is ready to fight for you with sensitivity, strength, and skill.

If you need an exit strategy, contact our Chicago office today at (312) 332-2915. Our divorce exit strategy lawyers in Illinois can help.

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