Grotta & Associates, P.C.
Our firm focuses on divorce and family law litigation, helping clients achieve their desired outcome.
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Handling your finances during a divorce

When couples with significant assets choose to divorce, there is often a temptation on both sides to act in their own best interests and begin seizing assets for themselves, potentially complicating the divorce process later on.

Media hype and stories from friends can hurt you in a divorce

We all glean information from a variety of sources. Doing so helps us form well-rounded and informed opinions on a variety of topics. In some situations, accepting advice from friends with personal experience can help you make the best decisions. Other times, information from television, movies and other media sources can help you as well. However, divorce is absolutely not one of those times.

Do you have reason to worry about your prenuptial agreement?

When people sign a prenuptial agreement during their engagement, they often imagine doing so is unnecessary. They intend to have their marriage last forever, only to discover that simply won't be the case later in life. In many cases, it is only when a marriage starts to fall apart that spouses may carefully consider the contents of their prenuptial agreement.

How will an Illinois divorce affect your plans for retirement?

There are many uncertainties involved in getting a divorce. Unless you and your spouse agree on specific terms for asset division and other issues via a prenuptial agreement, uncontested divorce or negotiated terms, the courts will end up making the major decisions. Since every marriage and every divorce is unique, it's impossible for anyone to accurately predict the exact outcome of your divorce.

Dissipation of marital assets can impact the division of assets

Divorce can bring out the worst in some people, leading them to do things that they usually wouldn't consider. Sometimes, for example, one spouse may take steps to intentionally hide marital assets from the other. They do this in the hope that it will result in more assets for them when the courts finalize the divorce. If caught, the person hiding assets could end up receiving much less as a result of this attempt.

Protecting your assets: Negotiating during high-asset divorces

A high-asset divorce has the potential to drain your income quickly, especially if you and your spouse can't come to an agreement on how to split your assets. Fortunately, there are alternatives to spending too long fighting each other. You can choose arbitration or mediation to help you resolve your issues quickly while protecting the assets you want.

Hidden assets can impact the outcome of your Illinois divorce

Once you've reached the decision that a divorce is the only solution to your marital problems, there are a lot of issues to consider. Divorce can impact your social relationships, as well as your financial situation. Most people want to know what to expect during the process of getting divorced and afterward, when they are rebuilding their lives.

Don't do this during your divorce

Following your instincts and intuition is vital in life, but during your divorce proceedings, you might want to keep your "instincts" in check. This means that if your spouse upsets you and your instincts say it's time to raise your voice, consider taking ten deep breaths and seeing how you feel afterward.

Do your personal contributions for a 401K impact asset division?

There are a lot of factors that impact how assets get divided during a divorce. The kind of divorce you're seeking, whether or not there is a prenuptial agreement on record and even custody of your children, can have an impact on who gets what. The courts in Illinois strive to fairly divide all marital property between both spouses during a divorce.

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