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Property Division Archives

How to avoid surprises when dividing the marital house in divorce

Property division can be an extremely complex matter under Illinois divorce law, and spouses going through a divorce will want legal guidance to achieve a fair settlement. For example, even when both parties think the best course of action is to sell the house they used to share, legal and financial bases have to be covered to ensure a favorable outcome. Otherwise, one spouse could end up short-changed or owning a house he or she doesn't even want.

Divorce sends Arbor - and his money - on European 'vacation' p3

We are finishing up our discussion of Patrick Arbor's unconventional -- and illegal -- approach to his divorce. Arbor was the chairman of the Chicago Board of Trade in the 1990s and was a member of the city's business elite until he fled the country this summer.

Divorce sends Arbor - and his money - on European 'vacation' p2

Former Chicago Board of Trade Chairman Patrick Arbor changed the locks on his Water Tower Place condo the day his wife filed for divorce. It had nothing to do with the property itself, he told the court during divorce proceedings. Rather, it had to do with the fact that his then-wife had "looted" about $400,000 from his safe. His wife, Antoinette Vigilante, responded that he had not told her about the safe.

Divorce sends Arbor - and his money - on European 'vacation'

As much as we try to leave high-profile divorce cases to the coasts, the Midwest occasionally sees one of our own make headlines. The most recent instance is a dramatic turn of events in the divorce of former Chicago Board of Trade Chairman Patrick Arbor. Arbor fled the country recently in what many believe is an attempt to keep a great deal of money from his ex-wife.

Jamie McCourt strikes out with request to toss divorce settlement

When we last visited with Frank and Jamie McCourt, they were in a court hearing regarding Jamie's petition to set aside their divorce settlement. Once again, the Dodgers baseball team was at the center of the dispute; this time, however, it was not the ownership of the club but its value.

Blue Cross refuses to comply with support order

It is difficult enough to get those ordered to pay child support to comply. According to U.S. Census data, fewer than half of those awarded child support receive their payments on time (if at all). Because of this, authorities are more likely to issue garnishment orders to obligors' employers, so that payments are made as ordered. 

Another barrier to divorce falls as real estate values rise

It is a strange irony that financial woes are a leading cause of divorce as well as a leading reason couples choose to stay together. Fighting about money takes a terrible toll on a relationship, but some couples realize that a split will mean neither has the resources to start over. This became especially true after the housing bubble burst and home values tumbled -- and tumble they did. In Lake County, Illinois, for example, home values have lost almost one-third of their value since January 2006.

What are Illinois married couples doing to prepare for a divorce?

When two people get married, the last thing on their minds is likely the possibility of getting divorced. They are ready to spend the rest of their lives together and share everything, but the reality that many Illinois folks have likely discovered is that this is not always the case. 

Ex-wife sues NBA star over endorsement and marketing income

Siohvaughn Funches-Wade is taking her ex-husband, Illinois native and nine-time NBA All-Star Dwyane Wade, to court again. The couple has struggled very publicly with child custody issues since they divorced in 2010. This complaint, however, involves the division of property and names his agent, his lead divorce attorney and four companies he has endorsement or marketing arrangements with as Wade's co-defendants.

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