Tag Archives: division of assets

Is keeping a house after a split a good idea?

On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, March 6, 2013. As anyone in the Chicago area who has gone through a divorce knows, there are many adjustments that need to be made as a result of the process. While exactly what those adjustments are varies from divorce to divorce, a common issue for many is who, if anyone, will be able to keep the marital home. Perhaps not surprisingly that determination depends the finances of the parties involved in the split. The first thing that needs toContinue reading

Hiding assets in divorce leads to expensive consequences

On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, November 28, 2012. It is not unusual for people to feel strongly about the money they make, especially when they are in the middle of a divorce. For example, a Chicago husband may feel that he works hard, and that his wife is not entitled to his money. In order to try and assure that he keeps what’s his, he may overstate debts, report higher expenses or lower income than what he actually earns. While this scenario may seemContinue reading

Some marital assets are difficult to divide

On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, September 28, 2012. Regardless of wealth, or the lack thereof, divorcing couples must agree to an equitable property division. Yet, at times, marital assets become difficult to divide fairly. They need some extra attention. Whether in Chicago, Los Angeles or the smallest town in Iowa, everyone can learn from the well-publicized case of the co-owners of the Los Angeles Dodgers and the impending divorce of the spousal co-owners of the Philadelphia Eagles. While most of us have more modest assets, theirContinue reading