Chicago-area couples who have a mutual marital interest in a highly profitable business may financial success, but their marriage may not be so successful. If they decide to divorce, they will have to determine what to do with their privately held business, if it is...
The equitable division of property is one of the top concerns during the divorce process. Part of that process may include division of a family business and the valuation of that business the family has worked a lifetime to build. As a result, it is useful to be...
Once 2019 comes to an end and January is here, many people in Illinois turn their attention over to their taxes. Those planning on filing early will want to make sure they understand any changes to the tax code that might affect them, specifically if they divorced in...
Chicago residents who have executed an estate plan or are planning to do so will want to keep a close eye on the spending bill currently making its way through Congress. The bill includes what has been called the “SECURE Act” and it will have a major impact on...
The holidays can be a difficult and emotional time for couples in Chicago whose marriage is on the rocks. Perhaps this is the reason there is generally an uptick in divorce filings after the New Year. For couples with children, the issue of child custody must be...
Many business owners in Chicago want to see their enterprise carry on in some capacity after they bow out of the business or are no longer alive. In order to achieve this goal, business owners need to prepare a successful succession plan. First, the business owner...
You’re looking at one of the most complex parts of the divorce process, where the courts divide your property. But your assets aren’t a simple matter, especially when you’re addressing the division of your business. Married couples co-own 3.7 million small businesses...