Peoria Family Law Blog

As a dad, you just want what is best for your child -- especially now that you are going through a divorce. Your child custody agreement is the most important place to make sure that the best interests of your child are respected and upheld. But while you might feel certain that you know what those best interests are, you should still be sure to consider several key factors. Here is a brief overview of what Illinois courts look at when determining the best interest of the child.

First, it is important that you understand what best interests actually means. His or her best interests are based on whatever it takes to foster healthy growth and development following your divorce. Those interests will then help determine your parenting plan and schedule.

Like all high-net worth spouses in Illinois and beyond, you worked hard to get where you're at today. Whether you're a business owner or climbed your way to the top of the ladder in a particular industry as an employee, you want to make sure your financial interests are protected in divorce. Especially if you're filing for divorce later in life, the unique nature of high-asset property division means you might encounter challenges when trying to ensure that your property is properly valued and fairly divided.

Details are important in high-asset property division. Both you and your spouse must fully disclose your finances, including any existing liabilities. A common problem in divorces where there is high-net worth property is that spouses who want to gain the upper hand in proceedings may attempt a hidden asset scheme, which is not only mean-spirited but illegal as well.

Some Illinois couples who start out marriage with very little to their names often end up accumulating significant assets over time. However, someone in this situation might not have thought about whether a prenuptial agreement could be beneficial. So is it too late to protect one's self in the event of divorce? Not at all, and this is where a postnuptial agreement can help.

Just like a prenup, a postnup addresses certain divorce terms. The major difference between these two agreements is when they are created. As the name implies, postnuptial agreements come some time after the wedding, maybe even years down the road.

Living well into a retirement usually hinges on one's financial foundation built earlier in life. But even if a foundation seems sturdy enough, some life events -- such as divorce -- can cause serious damage. Divorce tends to hit women's finances much more than men's, so Illinois women who are in or near retirement should be ready to advocate for themselves.

Of those aged 65 or older, men typically fare better financially than women. Women in this age group are 80% more likely to live in poverty than men of the same age. This is because the average woman suffers a 30% loss in her accustomed standard of living after a divorce. Men usually experience a 10% increase in standard of living.