When a spouse owns a business the business may be a marital asset. In a Chicago divorce, if either party has an interest in a business that business can be appraised and if it is a marital asset it may be equitably distributed between the spouses. The value of the business may include inventory, good will, accounts receivable, etc. In anticipation of divorce, some business owners may stockpile inventory, hoard revenue and overspend on their business in an attempt to avoid sharing the financial value with their spouse. The specific circumstances and history of each Chicago divorce case will influence whether the retained earnings, inventory and expenditures are legitimate business practices or not.
Order of Protection for Domestic Violence
Unfortunately, some Chicago divorces or Chicago child custody disputes involve domestic violence. When domestic violence, or the threat of domestic violence, occurs a victim may petition the court for an order of protection. An order of protection is a court order...