Chicago Law Blog
Artwork appraisal can be crucial in high-asset divorces
A high-asset divorce is fraught with numerous complexities. One of the biggest amongst them is property division. This is because those who have extensive wealth often have assets that are challenging to locate or challenging to value. You need to be extraordinarily...
Trusts may be beneficial for reducing estate taxes
Throughout life some people in Chicago have been able to amass significant amounts of assets. These assets may come in the form of real estate, investments, retirement accounts, collectables and other forms. People know that they will not be able to bring these assets...
Methods of dividing a family business during divorce
When a divorce requires dividing up a family business, it can be a difficult process for the divorcing spouses. Divorcing couples who share a family business should be familiar with different options available to them for dividing a shared business in divorce. One...
The function of a forensic accountant in an Illinois divorce
The term “forensic accountant” appears at first glance to be oxymoronic. Accountants deal with numbers; forensics relates to the use of science in crime detection. The two terms come together, however, in divorce and civil cases involving large amounts of money. A...
Why is a postnuptial agreement important?
As prenuptial agreements gain more popularity, couples are no longer as hesitant to discuss a fair distribution of their assets should the marriage end. The legally binding contract, entered into before the couple gets married, is now common among most couples, laying...
Utilizing forensic accounting to prove fraud
When a business suspects that fraud has been committed in any number of ways, there are multiple avenues which can be taken to prove such a claim. One of those ways is by utilizing the services of a forensic accountant. Defined as a combination of investigative...
How can mediation help with my divorce?
Mediation can be a valuable process for divorcing couples to consider that can help keep them out of court and resolve their divorce-related concerns and disputes. Divorce mediation provides a process that allows divorcing couples to negotiate issues that commonly...
How Hidden Assets Can Affect Divorce Settlements
Hide and seek can be a fun game Illinois parents play with their kids, but it is anything but amusing to have to search out hidden assets during a contentious divorce. A hidden asset is a parcel or piece of property, whether tangible or intangible, that one party to a...
Tax Facts Letter
In these unprecedented times, even the IRS has had to shelter-in-place until July 15th! Levin & Brend, P.C. would like to provide you with some sense of normalcy. As such, we are sending you our annual “Tax Facts” on what has traditionally been Tax Day. 2020 may...
Finances and Fairness: Working Toward Good Child Support Calculations
Child support is a financial and legal matter that may be related to divorce. However, Chicago parents who end unmarried relationships may also have child support questions as may parents whose divorces ended long ago in the past. When issues arise regarding the...
