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Springfield Illinois Divorce Attorneys

Protecting Your Financial Interests

While going through a divorce is often one of the most emotional events in a person’s life, it can also be one of the most financially trying experiences as well. At the law office of Feldman, Wasser, Draper & Cox, our divorce lawyers explain the financial issues and consequences associated with divorce. Our attorneys discuss the division of marital property, the division of debt, child support, spousal maintenance, and how your taxes and estate plan are likely to be effected as result. If you or your spouse owns a business, our office works with accountants in order to determine the value of it assets as well. We defend your financial interests by making sure all real property and money assets are divided fairly while taking steps to ensure you aren't left with debt that isn't yours.

Helping individuals and families for over 20 years, our divorce attorneys have the experience needed to ensure you and your children's best interests are protected. To schedule an appointment and discuss your case, contact Feldman, Wasser, Draper & Cox today.

Understanding the Financial Consequences of Divorce

The law office of Feldman, Wasser, Draper & Cox explains and discusses the following kinds of issues with clients in regard to the financial consequences of divorce:

  • Impact on tax returns
  • Child custody payments
  • Division of credit card debt
  • Spousal maintenance obligations
  • Effect on estate plan, wills and trusts
  • Consequences for a closely held business
  • Division of retirement funds (IRAs, 401k, stock plans, etc.)

Closely Held Businesses and Divorce

According to Illinois state law, the value of a business must be included in the determination of marital assets. During a divorce, it's easy for disputes to arise regarding the value of a business since its value can be artificially inflated or decreased by simply manipulating its financial records. At Feldman, Wasser, Draper & Cox, our lawyers consult forensic accountants and tax experts in order to determine the value of a business.

We look at the debt -- loans, mortgages, operating expenditures -- balanced against income. In reviewing bank and other financial transactions, we locate hidden assets and other investments related to a business as well. In some instances, this may result in a larger financial settlement for our client or it may protect them in cases where their ex-spouse insists a business is worth more than it actually is.

Be Prepared — and Informed

Working closely with our clients, Feldman, Wasser, Draper & Cox thoroughly explains what you can expect and what you can do to protect your rights and interests in a divorce. Providing you with the information you need to make informed decisions, we help individuals protect themselves, their children, and their future. To schedule an appointment and discuss how we can help you, contact the divorce attorneys at the law office of Feldman, Wasser, Draper & Cox today.