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Tax issues in divorceA high net worth divorce can be complex and challenging, and it may involve multiple types of intricate financial issues. In these situations, it is crucial to understand the tax implications of the decisions made during the divorce process. By working with an experienced family law attorney to address these issues, you can make informed decisions that will minimize your tax liabilities and protect your financial interests. Some issues that you may need to consider include:

1. Division of Assets

One of the primary considerations in any divorce is how marital assets will be divided between spouses. In a high net worth divorce, this division becomes even more critical due to the significant value and complexity involved in assets such as investments, real estate properties, businesses, retirement accounts, and stock options.

The way these assets are divided can have substantial tax consequences for both parties. For example:

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Illinois workplace sexual harassmentSexual harassment in the workplace can have devastating effects on survivors. It can not only impact their emotional well-being, but their professional lives may also be affected. It is vital for victims to understand that they have rights and options for addressing the harm they have suffered. An experienced attorney can provide guidance on how to proceed in these situations.

Understanding Workplace Sexual Harassment

Before looking at the options available to victims, it is crucial to understand what constitutes workplace sexual harassment. There are two general categories of sexual harassment:

  • Quid pro quo: This occurs when a supervisor or someone with authority demands sexual favors in exchange for employment benefits or threatens negative consequences if those favors are not provided.

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Illinois postnuptial agreementsA postnuptial agreement is a legal document that a couple can enter into after they are married. It is similar to a prenuptial agreement, which is signed before a couple becomes legally married. A postnuptial agreement, or “postnup” may outline how assets and debts will be divided and other financial matters will be handled in the event of a separation or divorce. By understanding the benefits of a postnuptial agreement and working with an attorney to create and execute a document that will be valid and enforceable, couples can make sure they have the necessary protections in place if they decide to end their marriage in the future.

Why You May Want to Consider a Postnuptial Agreement

There are several reasons why couples might consider entering into a postnuptial agreement, including:

  1. A change in wealth or power dynamics: If one spouse experiences an increase in the income they earn or the assets they own, it may be wise to have a postnuptial agreement in place to protect those assets. An agreement may address ownership of an inheritance, income earned following a promotion, or investments that a couple has made during the marriage.

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Illinois parental allocationAfter a divorce or separation, parents must follow the orders put in place in family court. These orders will address child related matters, including the allocation of parental responsibilities (legal custody) and parenting time (physical custody). They will also address child support to ensure that parents are meeting their children’s financial needs. In some cases, one parent may fail to follow the court’s orders, and the other parent may need to enforce these orders. 

If you need to make sure your ex is following your child support or parenting judgment, it is important to understand your options for enforcement. With the help of a skilled family law attorney, you can act to protect your children’s best interests and resolve any issues related to violations of court orders.

 

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Illinois sexual harassment attorneyWorkplace sexual harassment is a serious issue that affects many people in various lines of work. It can have harmful effects on the victims, leading to emotional distress, career setbacks, and even physical harm. Even though it is far too common, there are still several myths about workplace sexual harassment that need to be debunked. For those who have experienced sexual harassment in the workplace, a skilled attorney can provide guidance on the legal options that are available.

 

Myth 1: Sexual Harassment Only Occurs Between Opposite Genders

Contrary to popular belief, sexual harassment can occur between any combination of genders. It is not limited to interactions solely between men and women. Both men and women can be victims or perpetrators of sexual harassment in the workplace.

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From our law office in Wheaton, IL the family law and civil litigation law attorneys of Mirabella, Kincaid, Frederick and Mirabella, represent businesses and individual clients throughout the western suburbs of Chicago, Illinois including Wheaton, Naperville, Oak Brook, Glen Ellyn, Carol Stream, Lombard, Downers Grove, Burr Ridge, Lisle, Elmhurst, Oakbrook Terrace, Winfield, Woodridge, Warrenville and throughout DuPage, Kane and Kendall Counties.

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In honor of the passing of our founder, Joseph F. Mirabella, Jr., our offices are closed Friday, January 31, 2020.I Agree