4 Common Financial Complications in Family Law and Divorce

 Posted on June 10, 2025 in Divorce

Many of the decisions you need to make in family law and divorce involve your finances. The complex emotions that are usually present in these situations are not hard enough to deal with, and some common complications can make these matters even more challenging. Fortunately, our experienced Arlington Heights, IL family law attorneys know how to overcome these challenges and can help you navigate your issues.

Which Divorce and Family Law Decisions Involve Finances?

Finances are heavily involved in asset division, debt allocation, child support, and spousal maintenance matters. Modifications and enforcement can also be based on financial concerns. When complications affect the way you resolve these issues, you need the assistance of a competent lawyer to protect your interests during the process.

Wasting or Hiding Assets

Often, divorce brings out underhanded behaviors. Asset division can be highly contested. To prevent you from getting your fair share, your spouse may attempt to hide some of your assets. Extravagant spending, whether running up credit card debt or using cash, is another way some spouses try to manipulate the situation.

Voluntary Underemployment and Unemployment

Child support and spousal maintenance obligations are based, in part, on each spouse’s income. Your future ex may quit his or her job, thinking that a lack of income would sway those obligations in their favor. Intentionally taking a lower-paying position is another tactic frequently used to influence alimony and child support decisions.

Bankruptcy

Significant financial strain can lead to one or both spouses seeking debt relief by filing for bankruptcy. If you are getting a divorce, you need to work with a knowledgeable lawyer to determine which filing should come first.

Complex Property Division

No matter how many assets you own and debts you owe, getting a divorce means you must divide them using equitable distribution in Illinois. Sometimes, it is incredibly challenging to decide how to address complex debts and assets.

For example, dividing retirement accounts, business interests, and Social Security benefits can be complicated. If either spouse received an inheritance or gift, it could be considered marital or individual property, depending on how it was used during the marriage. It takes skill and experience to deal with these and similar complex issues in a way that serves your best interests but remains fair.

Why Is a Tailored Approach Best for Dealing With Financial Concerns in Illinois Divorce and Family Law Matters?

Each couple’s circumstances are unique. Determining the best way to resolve financial complications depends on the exact factors of your specific situation. Some attorneys are determined to use a generic approach to address all the issues you are facing. The simple truth is that cookie-cutter solutions usually create more problems than they solve.

Before we recommend possible solutions, we take the time to understand your priorities, objectives, and the nature of the issues. We may suggest negotiation, mediation, or litigation, depending on the dispute resolution style best suited to your case. In all we do, we vigorously protect your best interests while working to achieve your goals.

Discuss Your Case With Our Highly Effective Arlington Heights, IL Family Law Attorneys

Any family law matter has the potential to involve financial complications. You can trust the dedicated Arlington Heights, IL divorce lawyers at A. Traub & Associates to handle even the most complex issues skillfully. Schedule your consultation today by contacting us online or at 847-749-4182.