Elgin Family Law Blog

When business owners in Illinois decide to divorce, they could face even more serious financial consequences than people with other types of jobs. Many more people are exploring their potential through entrepreneurship and startup firms, especially in the tech sector. However, these small, closely held businesses can easily develop into a major marital asset. This is one reason why some investors require the startups they invest in to show that all the owners have signed prenuptial or postnuptial agreements that exclude the business from being divided in a divorce.

Divorce is almost always a costly process that involves some painful financial choices during property division. However, people can restructure their finances and support themselves to move forward. When a business is involved, the subject becomes more complicated. In some cases, the company may be divided between the spouses. Neither person may have the funds available to execute a buyout agreement, and both spouses may try to hang onto the company. This kind of conflict could lead to the sale of the business entirely. In some cases, it could have even worse outcomes when the firm suffers as a result of the owners' conflict.

The period after a divorce can be challenging for many people in Illinois. The end of a long-term romantic relationship can be depressing and isolating, especially for the spouse who did not request the dissolution. People may struggle with depression and other mental health concerns as well as physical health issues. However, people can move forward after a divorce by keeping some key tips in mind. While the post-divorce period can be sad, it can also be an important period of growth and transition into a new future.

The support of family and friends can be important in getting through a divorce. People can confide in those closest to them about issues that may trouble them or even doubts about why their marriage came to an end. Those who feel like they cannot speak about more intimate issues may want to engage professional support by working with a therapist or other counselor to work through their concerns about their divorce and moving forward.

When parents in Illinois get a divorce, the process and transition may be difficult for their children. However, how they behave toward one another and toward their children can make it easier. For example, parents should avoid arguing in front of their children. They should try to remain civil with one another, and if possible, they should take it a step further and try to plan one or two family nights together each month.

As the school year gets underway, you may have new concerns for yourself and your children because of your recent divorce. Now, you will need to create a schedule that not only accommodates your kids' activities but that also stays in line with the child custody agreement you have with the other parent.

Creating a parenting schedule is not always easy, and each family has different details to consider. Though having a plan in place before school starts may seem ideal, you may want to maintain some flexibility because you may not know what your children's after school activities will include until after the school year begins.