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asset division

Civil Unions – how far back do we value assets?

In a recent decision by the Second District Appellate Court, the Court held that as of the effective date of the Illinois Religious Freedom Protection and Civil Union Act ( the “Act”), (effective June 1, 2011) Illinois recognizes any civil union that was legally entered into in another jurisdiction as valid from the date on…
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The division of property in a divorce

In several states, property division is based on community property rules. Under this principle, property obtained during the marriage is deemed to be owned jointly by the spouses, and thus during a divorce, these assets will be divided equally between the two parties unless they otherwise agree. While Illinois is not a community property state,…
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Divorce considerations for professionals in Illinois

Illinois couples have to cope with a number of difficult and potentially contentious issues during a divorce, but professional couples have even more to consider. Matters such as alimony, child custody and property division often lead to vigorous and emotionally charged discussions, but doctors, lawyers, architects and accountants must also determine the value of a…
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