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Divorce Effects on Estate Planning in Illinois

 Posted on November 27, 2013 in Child Support

Choosing the right divorce attorney is crucial to avoid problems down the road. There is much more to a divorce than just getting a court decree that terminates the marriage. Any divorce decree will at the very least contains a sustainable custody and visitation schedule that will survive the test of time.

Fortunately, an experienced divorce attorney will make sure that the divorce decree accounts for each minute detail, no matter how unimportant it may sound. A properly prepared joint parenting agreement, for example, will contain a calendar setting forth the daily visitation schedule, specify which parent has visitation during which holidays and calls for periodic reviews.

Moreover, an experienced divorce attorney will make sure that child support obligations are realistic in the long term so they can truly benefit the children. A good divorce attorney will have a practicing understanding of other areas of law, like estate planning, which may affect the divorce or support obligations. The attorney will rely on that understanding to ensure best outcome for the client and their children.

For example, as already mentioned, one important issue is providing for the children. An attorney who understands both divorce law and estate planning may recommend that the parties set up a trust for the benefit of the children. The income that the trust generates will then provide for the children's living expenses until they are old enough to gain control of the money.

Trust instruments are a valuable but little used tool in divorces. In addition to providing income for the beneficiaries, they protect the trust assets from dissipation by either party. In order for a trust instrument to be valid, however, it must meet Illinois' trust law requirements.

If you are facing with a divorce, you may have many questions. Contact an experienced Illinois divorce attorney who will answer those questions and give you the representation you deserve.

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