Divorce lawyers in Springfield, IL
Protecting Your Financial Interests
Suffering through a divorce can be one of the most stressful events in a person’s life. It can also be one of the most financially trying experiences as well. That’s why at the Springfield law office of FeldmanWasser, our divorce lawyers will take the time to explain key financial issues and consequences associated with parting ways and starting over. We’ll discuss the division of marital property, division of debt, child support, spousal maintenance, and probable impact it’ll have on your taxes and estate.
If you or your spouse owns a business, our office will dig deep to determine the value of its assets. We’ll make sure all real property and financial assets are divided fairly. And take steps to insure you’re not left with debt that’s not yours. Helping individuals and families for over 25 years, our divorce attorneys have the experience needed to help protect you and your children’s best interests.
Understanding the Financial Consequences of Divorce
At FeldmanWasser, our family law professionals will walk you through the financial consequences of divorce, including:
- Fathers’ rights / Mothers’ rights
- Child support and custody payments
- Division of credit card debt
- Spousal maintenance obligations
- Impact on tax returns
- Effect on estate plan, wills and trusts
- Consequences for a closely held business
- Division of retirement funds (IRAs, 401k, stock plans, and more)
Closely Held Businesses and Divorce
According to Illinois law, the value of a business is part of your marital assets. But during a divorce, disputes often arise regarding the value of a business. Its worth can be artificially inflated–or decreased–simply by manipulating the financials.
At FeldmanWasser, we’ll enlist the help of CPAs, forensic accountants and other financial professionals to determine the true value of the business. We’ll also look at debt—loans, mortgages, operating expenditures—balanced against income. In reviewing bank and other financial transactions, we’ll hunt for hidden assets and other investments related to a business. In some instances, this may result in a larger financial settlement or help protect you if your ex-spouse claims a business is worth more than it really is.
Be Informed About Divorce in Illinois and Be Protected
To schedule an appointment and discuss how we can help you, contact one of our divorce attorneys today.