Should I Wait Until After the Holidays to Get a Divorce?

One of the most common questions that we get around Christmas time from potential clients is whether they should wait until after Christmas to file for divorce. Here’s what you need to consider. 

The holidays are a time for family and friends, and the last thing on your mind should be whether or not you should get divorced.

But if you’re in this position, it’s important to know that you don’t have to keep your divorce plans under wraps forever. There are many situations where it could be good to hold off, and in some cases it’s better to rip the bandaid off. Here are several considerations to keep in mind when deciding whteher to wait until after the holidays to get a divorce.

Avoiding Extra Holiday Stress

The holidays can be a stressful time for everyone, but they can also be a time of joy and togetherness. If you’re considering divorce, it’s important to remember that divorces often take a long time to finalize, and it may be best to wait until after the holidays are over before starting proceedings.

If you’re in a marriage that is teetering on the brink of divorce, the holidays can be especially hard. It’s important to focus on what makes you happy. Whether it’s spending time with family or taking some alone time—and not allowing yourself to fall into the trap of focusing on how unhappy your marriage is making you. Try not to let stress get the best of you during this holiday season.

Be Aware of False Hope

Holidays may be the most wonderful time of the year, but they can also be a source of false hope. Thanksgiving and Christmas are often times when couples will try to rekindle their passion and romance, often “for the sake of the kids”. When couples have been in a long-term relationship, it’s not uncommon for them to experience periods of disconnection or lack of intimacy. But when the season rolls around, these high spirits can sometimes cloud the deeper issues.

However, despite the aura of togetherness over the season, always remember why you wanted to get a divorce in the first place. Are these reasons going to pop up again in the new year? Will everything be magically solved in your marriage? Weigh up the pros and cons carefully before making your decision. 

Supportive vs. Interfering Relatives

If you have decided that it is time to divorce, but are worried about how your family will react, you may want to consider filing for divorce during the holidays anyway.

Depending on your relatives and relationship with them, filing for divorce amidst the holidays can be a great way to get away from the stress of everyday life and spend time with those who mean the most to you. Many people find that they are able to spend more quality time with their families during this time of year, which is why it can be an ideal time to file for divorce and reap the family support you need during this time.

However, we all have that one relative (or multiple relatives) who wish to give their penny’s worth on the topic of your marriage. This negative interference can be detrimental to your mental health and personal strength when it comes to filing the papers. Depending on where you are spending the holidays, consider keeping it quiet. These relatives don’t need to know what’s happening with your marriage now. Wait until the papers are complete and you have the confidence to discuss it further down the line.

Toxic Family Environments

Regardless of your marriage situation, arguments are sometimes impossible to not have during the holidays. The stress gets to everyone, however, If you are in a toxic or abusive situation it’s important to know that you don’t have to stay in your marriage if you’re unhappy. While divorce proceedings can be difficult and stressful for everyone involved, it is better if it is started sooner rather than later. Divorce attorneys can help guide you through the process.

Remember, if you or your children are in danger, it’s important to get out of the situation as soon as possible. Even consider filing for an Order of Protection.

Protecting Children

Announcing divorce at any time can be difficult for children, but it’s even more painful when it’s during the holidays. The festive season is one of generosity and cheer, and children are eager to experience the wonderment of this special time. 

Setting irreconcilable differences aside, even for just an additional month, allows the children and both parents to spend one last holiday together as a family. The gift of family togetherness is one that children will cherish and remember long after the divorce is over.

Final Thoughts

Regardless of your relationship situation it’s important to consider all of the factors before you make the decision to get a divorce. Whether you anticipate divorcing before, during or after the holiday festivities, you can always rely on the attorneys at Masters Law Group to guide you through the process.

We’ll be by your side every step of the way as we work towards a resolution that is fair, equitable and compassionate. Contact us today to schedule your complimentary consultation.

Can Hiding Crypto from Your Ex Get You in Legal Trouble?

If you typed this article’s heading into an online search engine, chances are you’re considering hiding digital assets in your divorce case. Here’s why it’s a very bad idea.

The dramatic rise of cryptocurrency has led some spouses to hiding those digital assets during divorce settlements. In a divorce, both parties are expected to be honest about their assets, as all assets acquired during marriage are subject to division in a divorce. While property, stocks, bonds, bank accounts and 401(k)s can be easily tracked down, cryptocurrencies can be a bit more difficult. However, as it becomes more common, many lawyers are more aware of them and have started to learn the challenges surrounding them. 

Which begs the question, is it illegal to hide crypto from your ex during a divorce? 

What assets must be disclosed in a divorce? 

In an Illinois-based divorce case, it is legally required that each spouse discloses any and all assets, income and debt as part of the financial disclosure process. This also includes digital assets, such as cryptocurrencies. The issue with crypto, though, is enforceability and tracking it down if it is hidden. Regardless, spouses who fail to disclose still face legal trouble. Financial disclosures are signed under penalty of perjury so non-disclosure could lead to criminal charges. 

Tracking crypto

While there are ways to locate cryptocurrency activity, it is still difficult to discover and you could need experienced help from a Cryptocurrency experienced attorney. Older forms of crypto like bitcoin and ethereum are easier to track but other, more anonymous forms, are much harder for even experts to find. If exchanges are based in a foreign country, it can become even more difficult. However, it is still possible. Lawyers like the attorneys at Masters Law Group can grant subpoenas to get information if trades occurred in the United States. Additionally, forensic investigators or financial experts may be hired to uncover the assets.

What happens if I hide assets in a divorce? 

Hiding assets in a divorce could lead to discovery. Submitting incorrect documentation, failing to disclose assets or intentionally concealing them could lead to facing criminal charges. Perjury and contempt of court are the most common charges faced from these activities, but in extreme cases, you could pay large fines or even be forced to spend time in jail. 

Additionally, hiding assets is considered highly unethical by the court. Judges can use this information to make their own decisions relating to asset division. Oftentimes, attempting to hide your assets leads to your ex-spouse’s benefit, receiving a higher percentage of the total assets. 

Final Thoughts

Hiding assets is always a risky proposition and likely not worth it. Even though crypto is difficult to track, it’s still possible and the outcome would not be in your favor. It’s best to be honest about your assets during divorce proceedings, increasing the chances of getting your assets split fairly.

If you’re going through a divorce and are in need of legal help, Masters Law Group is here to help. Contact us today.

Masters Law Group Awarded 2023 “Best Law Firms” Tier 1 Ranking in America by U.S. News – Best Lawyers

Best Lawyers and U.S. News & World Report publicly announce the Thirteenth Edition of the “Best Law Firms” rankings. And Masters Law Group have again been regognized – and now ranked Tier 1.

Chicago, Il, November 3, 2022 – Masters Law Group LLC is pleased to announce that the firm was recognized by Best Lawyers® and U.S. News & World Report in their “Best Law Firms” rankings for 2023.

“We are honored, to once again, be recognized nationally as a top firm among our peers,” said Erin Masters of Masters Law Group. “Receiving this recognition in Tier 1 – based on the input from our clients and peers – is gratifying as many exceptional firms practice in the areas in which we are recognized.”

All the rankings, in all tiers, were published online at bestlawfirms.usnews.com. The National and Metro Tier 1 rankings were also published in print in their Twelfth Edition of “Best Law Firms”. Achieving a tiered ranking signals a unique combination of quality law practice and breadth of legal expertise. Firms that received a tier designation reflect the highest level of respect a firm can earn among other leading lawyers and clients from the same communities and practice areas.

ABOUT MASTERS LAW GROUP

Located in Chicago, Illinois, the firm handles family law matters in Cook County and surrounding counties. Masters Law Group concentrates in area of domestic relations, which includes International Law via The Hague Convention, divorce, allocation of parental responsibilities, child support and related family matters.

ABOUT “BEST LAW FIRMS”

The U.S. News – Best Lawyers® “Best Law Firms” rankings are based on a rigorous evaluation process
that includes the collection of client and lawyer evaluations, peer review from leading attorneys in the
field, and review of additional information provided by law firms as part of the formal submission
process. To be eligible for a 2023 ranking, a law firm must have at least one lawyer recognized in the
28th edition of The Best Lawyers in America® for that location and specialty.

Their annual “Best Law Firms” publication showcases all Tier 1 firms ranked nationally and by region and includes a wealth of discussion on industry-shaping issues penned by firms honored in their rankings.

ABOUT U.S. NEWS & WORLD REPORT

U.S. News & World Report is the global leader in quality rankings that empower people to make better,
more informed decisions about important issues affecting their lives. A digital news and information
company focused on Education, Health, Money, Travel, Cars and News, USNews.com provides
consumer advice, rankings and analysis to serve people making complex decisions throughout all
stages of life. More than 40 million people visit USNews.com each month for research and guidance.
Founded in 1933, U.S. News is headquartered in Washington, D.C.

ABOUT BEST LAWYERS

For more than four decades, Best Lawyers has assisted those in need of legal services to identify the
lawyers best qualified to represent them in distant jurisdictions or unfamiliar specialties. Lawyers are not
required or allowed to pay a fee to be recognized; therefore, recognition by Best Lawyers is
considered a singular honor.

Contact the award-winning firm and attorneys at Masters Law Group here. 

What are my Legal Rights As a Birth Parent of an Adopted Child?

Adoption, like childbirth, is a life-changing event in your life. If you are seeking to adopt a child, or if you have already started the adoption process but you are encountering legal barriers, you will need to be advised by the right legal team. Learn about a biological parent’s rights after an adoption below. 

Deciding to give up a child for adoption is a very difficult decision and definitely should not be committed until you, as the biological parent, have fully understood what this means for your parental rights. Once the adoption process is finalized, you have relinquished your parental rights and responsibilities by law. However, during the pregnancy, you have undeniable parental adoption rights throughout the adoption process. 

If you are considering adoption, it is important to know the limits of your parental rights and how they may affect you long-term. 

First, let’s discuss the rights you do have prior to the adoption, during pregnancy.

The Right to Change Your Mind at Any Time

Prior to completing any adoption paperwork, the birth mother has a legal right to change her mind at any point in the process. This means you will always have the option to parent your child, whether you change your mind early in pregnancy, after you’ve met the adoptive parents, or even after you’ve given birth, as long as no paperwork has been completed. Your adoption specialist will respect these inherent legal rights you have as the biological parent. 

The Right to Create Your Own Adoption Plan and Choose the Adoptive Family

As the birth mother, you have the right to create your own adoption plan from start to finish. You will have an adoption specialist with you to support and help you through the process, but you should never be forced into making decisions you’re not comfortable with. Once of the decisions you also get to decide is if it’s going to be an open or closed adoption. With open adoption, you also have the right to choose the family that you wish to place your child with. Normally, your adoption specialist will thoroughly discuss with you what your desires for the adoptive family are, and show you profiles of families who meet those preferences. 

Additionally, you will be able to meet with and get to know the prospective families. You can take as long as you need to find the family you believe is the right fit for your child. 

The Right to Choose Your Post-Placement Relationship

Another factor in open adoptions is choosing the contact you want to have with the adoptive family before and after the adoption is complete. While you have no legal parental rights after you give up your child for adoption, open adoption allows you to remain a part of your child’s life. Your adoption specialist helps coordinate communication to make sure the adoptive family maintains their communication with you. 

The points discussed above dealt with rights parents have prior to the adoption being finalized, but following the finalization, your parental rights are completely terminated. Let’s discuss what this means and if there are other options. 

Voluntary vs Involuntary Termination

Generally, birth parents have the right to choose what’s in the best interest of their children, this includes the difficult decision of adoption. When parents choose to offer their child for adoption, they are voluntarily terminating their parental rights. Alternatively, when birth parents are forced to terminate their parental rights, it’s known as an involuntary termination. This can determine how the adoption moves forward and the long-term situation. 

Before voluntary termination can take place, one or both parents must legally consent to the adoption. Most states require this to be done in writing and before a judge or court-appointed person. 

There are other times when birth parents’ rights are terminated involuntarily. For this to take place, someone must be going on that endangers the well-being of the child. Common occurrences include:

  • Child abuse or neglect
  • Abandonment
  • Mental illness
  • Incapacity based on alcohol or drug use 
  • Conviction of a crime by the parent

Timing 

The exact moment the birth parents’ rights are terminated depends on the state, but can range from immediately after the child’s birth to 30 days after. Terminating birth parents’ rights is a serious matter and most states have very strict timing requirements that must be set and agreed to prior to the termination. 

Visitation Rights

Following the adoption, the adoptive parents have sole authority to decide on visitation rights. If they feel it’s in the best interest of the child, they may enable a healthy relationship with the birth family. 

Although, if a post-placement relationship was agreed upon and put into the paperwork, you have the authority to choose what kind of relationship you wish to have with your child. 

It’s important to note that, generally, adoptive parents are not required to communicate with birth parents after the adoption. The only exceptions being severe illness or death. 

Free Counseling for Birth Parents

Every birth parent has the right to counseling during both the pregnancy and following the adoption. This can help a lot of mothers and fathers cope with emotional and physical trauma. Birth mothers are at a much greater risk of experiencing depression due to the negative feelings of guilt and shame. Which makes pre-adoption counseling very beneficial for all parties involved. 

Revoking Consent

In most states, consent to adoption is irrevocable since consent is meant to be a lasting and building agreement to help ensure a stable environment for the child. Although, in extreme cases, some states allow for revoking consent to adoption, usually only before the adoption has been finalized. Some situations include; 

  • Fraud or coercion was involved
  • The state allows a set period of time for revoking consent
  • The state determines the revocation is in the best interest of the child
  • The birth parents and adoptive parents mutually agree

Can Adoptive Parents Cut Off Acces?  

The current trend for adoptions seems to be to allow open adoptions that encourage a relationship between birth and adoptive parents. Unfortunately, if the adoptive parents do not want them in the child’s life, there is not much you can do as a birth parent. Again, this is why it’s important to enter a visitation agreement into the paperwork. 

Final Thoughts

Adoption is a lifelong commitment and a permanent decision. Once you have given consent and signed the paperwork, it’s extremely difficult to go back. That’s why it’s so important to work with a legal team that understands these kinds of situations and knows just what to do. Our award-winning attorneys at Masters Law Group have seen it all and can help create solutions right for you. We’re here to help guide you through these difficult times. 

If you need help with any family law issues, reach out today.

Family Law Issues to Avoid This Holiday Season

November is the unofficial start to the holiday season. While many are filled with excitement and joy, others are left worried about their family law issues such as custody, visitation rights and even starting divorce proceedings. As an Illinois resident, it’s important to know your rights as we approach this family-orientated time of year.

The holiday season can be stressful on any family, but it can be even more difficult for divorced parents, their children and other family members. How do you deal with conflict? Can it be avoided altogether? Read on to learn more about common family law issues that occur over the holiday season and possible solutions.

Discussing Divorce

Many couples attempt to put off divorce until after the holiday season for the sake of their children and to avoid telling other family members. This is common, but just as difficult as being honest about the impending divorce. 

If you’ve taken the alternative route, here are some tips for discussing the divorce around your family during the holidays: 

  • Be honest. You don’t need to give away every detail, but lying could cause more issues in the long run. Being upfront also allows you to control the narrative within your family.
  • Set boundaries. As we said before, you don’t need to tell your family everything or go into detail about your situation. If it becomes too much, take a step back. Explain to your family you do not wish to discuss the divorce and want to focus on enjoying the holiday. 
  • Be courteous. If you find yourself around your spouse’s family for some reason, it’s best to not discuss the divorce with them. If they press, tell them you do not want to talk about the divorce at the moment and need to remove yourself from the situation.

But always remember, if you or your children are in danger in any form, never hesitate to leave a high-risk environment immediately. You can even seek councel and advice on getting an Order of Protection. 

Custody Agreements/Allocation of Parental Responsibilities 

If possible, it’s best to build holiday plans in a custody agreement. If you and your ex spouse live in different cities or states, and travel is difficult, it may be best to arrange the children to be at one house for a certain holiday, and the other for the next. For example, the children spend Thanksgiving with you and Christmas with your ex, and you alternate the following year. 

Whatever your family decides to do, clear communication is key. Be specific about the days and times that are included for the holiday, as well as pick up or drop off times. Be realistic about what’s possible, if possible, get input from your children. Try to make this time easy on everyone. Need help on arranging an Allocation of Parental Responsibilities agreement? Learn more here.

Gift Giving

Communicating about gifts can also be beneficial. Avoiding duplicate gifts can help reduce any stress of having to return items. Keeping an open line of communication could also allow you to work together on purchasing larger gifts for your children, such as a computer or a new phone.

Changing Schedules

Sometimes, changes in schedules are inevitable. If there’s a legitimate reason for the party needing to adjust plans, try to be flexible. Obviously, it’s ideal for everything to go as planned, but being adaptable can make things easier on everyone involved. Alternatively, if you’re the one needing to make adjustments to the schedule, try to communicate them as clearly and as soon as possible.  Any change to your existing parenting time schedule is called a post-decree modification. 

The court may grant a modification without a showing of changed circumstances if the modification is in the child’s best interests and any of the following are proven:

  1. THE MODIFICATION REFLECTS THE ACTUAL ARRANGEMENT UNDER WHICH THE CHILD HAS BEEN RECEIVING CARE, WITHOUT PARENTAL OBJECTION, FOR THE 6 MONTHS PRECEDING THE FILING OF THE PETITION FOR MODIFICATION, PROVIDED THAT THE ARRANGEMENT IS NOT THE RESULT OF A PARENT’S ACQUIESCENCE RESULTING FROM CIRCUMSTANCES THAT NEGATED THE PARENT’S ABILITY TO GIVE MEANINGFUL CONSENT;
  2. THE MODIFICATION CONSTITUTES A MINOR MODIFICATION IN THE PARENTING PLAN OR ALLOCATION JUDGMENT;
  3. THE MODIFICATION IS NECESSARY TO MODIFY AN AGREED PARENTING PLAN OR ALLOCATION JUDGMENT THAT THE COURT WOULD NOT HAVE ORDERED OR APPROVED…HAD THE COURT BEEN AWARE OF THE CIRCUMSTANCES AT THE TIME OF THE ORDER OR APPROVAL; OR
  4. THE PARTIES AGREE TO THE MODIFICATION.

750 ILCS 5/610.5(e).

Visitation Rights

Parents and Grandparents alike may have questions about their own rights when it comes to seeing your children around the holidays. In the state of Illinois, it is ultimately up to the parent’s discretion to choose who their children have a relationship with or not. If the grandparent or family member wishes to petition for their own visitation rights, they first must prove they had a relationship with the child prior to the divorce. The court can help extend an existing relationship, but it cannot help create a new one.

Final Thoughts

Co-parenting can be difficult, but if you find ways to work together and create a plan, it can make the holiday season much easier. Sometimes, parents do attempt to defy court orders and make plans on their own. If speaking to the other parent on your own doesn’t help the situation, it may be time to get attorneys involved.

Our award-winning attorneys at Masters Law Group have seen it all and know just how to handle these types of situations. We’re here to help guide you through this difficult time. 

If you need help with any family law issues, reach out to us here today. 

Can I Change a Child Custody Agreement?

When a child custody case is resolved, the court issues what is known as a permanent custody order. However, despite the word “permanent,” custody orders can be changed later if there’s a reason to do so.

When parents separate or divorce, you may get an initial child custody order (also known as Allocation of Parental Responsibilities order) that outlines the custody arrangement. However, if circumstances change, the court can modify the order at any point until the child turns 18.

We’ve put together a list of possible situations that could lead to a change in your child custody agreement, along with information about how to proceed.

Here’s what you need to know.

Facts on Allocation of Parental Responsibilities

There are three basic types of child allocation of parental responsibilities in Illinois — joint allocation of parental responsibilities, sole allocation of parental responsibilities and shared allocation of parental responsibilities:

Joint allocation of parental responsibilities requires parents to cooperate in decision-making regarding education, health care and religious instruction. It does not mean that the children live with each parent for an equal amount of time. The parties will agree or the court will assign a residential parent. The non-residential parent will pay child support and exercise parenting time. The amount of time the children spends with the non-residential parent is addressed in a parenting time agreement or order.

Sole allocation of parental responsibilities is the term that describes the arrangement that gives one parent the responsibility for deciding everything related to the child’s welfare. It does not mean that the other parent is out of the picture. Parenting Time and parenting time can be the same in a sole allocation of parental responsibilities case as it is in a joint allocation of parental responsibilities case.

Shared allocation of parental responsibilities is a form of joint allocation of parental responsibilities. It is appropriate when the child spends equal time with each parent, the parents reside in the same school district and are able to joint parent.

Why Would a Parent Need to Modify a Custody Order?

A parent may want to obtain a change in custody or visitation if substantial changes in the other parent’s lifestyle threatens to harm the child. Examples might include if one parent starts to abuse drugs or alcohol, or leaves a young child home alone. If one parent becomes incarcerated or incapacitated in some way which leaves them unable to care for the children might be another reason for a modification.

The Two Year Rule

The Illinois Marriage and Dissolution of Marriage act clearly states that these parental responsibility plans may not be modified for two years following their entry in court. However, there are two exceptions to this rule. 

The first exception is if the courts determine that there is a factor present that could seriously endanger the wellbeing of the child, either physically, mentally or emotionally. This also applies to visitation plans that address grandparents, step parents and siblings. The second exception is if the parents file a joint stipulation waiving the two-year moratorium.

If you are seeking to change your existing parenting plan, it’s best to consult with an attorney as soon as possible. Your case might fall under one of these exceptions and you’ll want to prepare accordingly.

Making Modifications at Any Time

You can change your custody agreement at any time, as long as both parties agree to the modification. The court will still have to approve these changes to ensure that the child’s interests are still served. 

The law specifies several other conditions that could lead to change at any time. Here are the following rules:

  • If there is an environment that is seriously harmful to the child.
  • If a parent either lives with or marries a sex offender.
  • If the child’s emotional development is seriously impaired due to current arrangements.

In order to make changes, a parent will have to file a petition. From there the court will make the decision on if the petition is approved or not.

Other Changes and Circumstances

If you are a parent with child custody, you know that it can be a difficult arrangement. However, the Illinois Courts point out that the parties involved in these arrangements have a continuing duty to provide information that could affect a pending arrangement. 

A court may also take into account any substantial changes that have occurred since the agreement was entered and approved. In order to have a modification approved, it will be necessary to prove that the substantial change has affected the child’s best interests. 

Some of those changes and circumstances can be the following:

  • Changes in work schedules for both parents
  • Children starting school
  • Misbehavior of either parent i.g. Criminal charges or inappropriate significant other

If you think that there has been a change in circumstances since your original agreement was approved, it is important to talk with an experienced attorney as soon as possible. As long as you can prove that there has been an impact on your child’s best interests, then you could be able to get your custody agreement modified quickly.

Final Thoughts

Fortunately, Illinois law gives parents a number of options for changing custody orders. While this is a good thing, making modifications can quickly get messy and turn into complex issues. It’s always important to consult with your family law attorney before making any decisions.   

At Masters Law Group, it’s our duty to ensure any modifications made to your child custody agreement are done in a proper and swift manner. If you’re currently navigating child custody or considering your legal options, schedule a consultation with us today to learn how we can help.

Identifying Crypto in Divorce

It’s National Cryptocurrency Month, a time to reflect on a fairly new asset concept that has grown increasingly popular. In this blog, we’ll cover what you need to know about cryptocurrency and how Masters Law Group can help you identify crypto in a divorce.

Cryptocurrency interest and awareness has exploded over the past five years. This increase was initially fueled by younger, techminded individuals, but recently large banks like Morgan Stanley and Goldman Sachs have invested heavily in crypto assets. This cultural phenomenon has spread, and recent numbers show that upwards of 53 million Americans are invested in crypto.

Cryptocurrency is volatile, wide ranging (think beyond Bitcoin) and can be more difficult to identify compared to other assets. Its volatility means its value can swing wildly – even in as little as hours. Cryptocurrencies are also numerous and multiplying with over 20,000 different currencies as of this year. 

What does this mean for you if you’re currently navigating a divorce? Read on to learn the steps you should take to ensure financial equality is met. 

The Cryptocurrency Basics

By this point you’ve probably heard the word “cryptocurrency” but few could define it succinctly. Let’s break the word in two to simplify things. First, cryptography – “the practice and study of techniques for secure communication.” Second, currency – “A system of money in general use.” From this we can see that the goal of cryptocurrencies is to “secure” the transaction records, creation of additional currency units and their transfer. 

What makes cryptocurrencies unique is the technology behind them – blockchain. Blockchain is what allows for the foundational security of these digital assets. What is blockchain? To keep things simple it’s a distributed ledger across multiple nodes, computers and people that creates a network and stores information. This decentralized database ensures that no one person or group can have leverage over the currency.

Identifying Cryptocurrency as a Financial Asset

The main issue when dividing cryptocurrency is the volatility we mentioned. For example, in January of 2021 Bitcoin surged over $40,000 before falling to $32,000. These valuation swings can make determining value difficult compared to more traditional assets.

Beyond this, the first step is to determine if your spouse has cryptocurrency holdings. Depending on the relationship, you may already know if these digital assets exist. If you’re unsure there are steps to take. 

Consider past conversations. Have they mentioned cryptocurrency? If so, that establishes a baseline interest that may lead you to believe they have assets in place. If you feel that they do, you would move into a discovery phase. 

First off, share this information with your legal counsel. Your attorney and their team can use this information to begin investigating. Some of the first steps they may take would be to determine if there is a physical “wallet” or a digital one. This wallet may be in the form of a hard drive that holds the cryptocurrency or in the form of an online exchange like Coinbase.

Either way, this information will be password protected. Once entry is secured, a paper trail will show itself. This information will contain transactions, the cryptocurrency holdings, conversion rate and other pertinent information. 

Once all of this information is secured, the division of the assets can be discussed.

Division and Reconciliation 

There are four basic paths that can be chosen once valuation has been determined. Let’s briefly cover these.

    1. Simple Division: As the name suggests, this would simply be a division of the cryptocurrency assets.
    2. Custodial Holding: If holding cryptocurrency is not valued, a custodian can be secured. This representative would handle the cryptocurrency transaction – into the US dollar for example – and then hold the amount until the divorce is finalized.
    3. Cryptocurrency Owner Liquidation: In this situation, the owner of the cryptocurrency (your spouse) would convert your share into US dollars. The value of the currency would be determined by the day of sale value. 
    4. Liquidation with No Claim Upon Remaining Cryptocurrency: This is similar to the option above, the difference being that your spouse would retain full ownership but would liquidate the cryptocurrency as it stands. You would not be owed any of the assets.

By working with your legal counsel, you can determine the best course of action.

Final Thoughts

Cryptocurrency is fairly new, meaning it’s often misunderstood. Its popularity means it will continue to be relevant in divorce cases into the foreseeable future.

If you’re currently navigating a divorce, and believe that you are owed a portion of cryptocurrency assets, reach out to Masters Law Group LLC today. Our skilled team has experience with digital assets and our breadth of knowledge means we can answer your questions and assist you in gaining access to what you’re owed.

Schedule a call, here today.

How to Find the Best Divorce Lawyer

Divorce is incredibly difficult for all those involved, especially when finances and children become wrapped up in the process. That being said, by choosing the right lawyer, you can potentially expedite the process, minimize costs and reduce the stress on you and your family. 

Many believe that by choosing to partner with a lawyer during their divorce, they’re deferring responsibility and decision making. This couldn’t be farther from the truth. When choosing a divorce lawyer, you’re partnering with someone that can help you navigate the often murky divorce process while also being a trusted advocate. 

How do you find the right lawyer or firm for you? This comes down to due diligence and research. By looking at reputation, asking the right questions and having a basic understanding of the divorce process, you can feel confident in your decision.

Read on to learn what our team at Masters Law Group LLC feels are the most important aspects to understand when searching for the best divorce lawyer.

Consider the Quality of the Practice

The divorce rate in America is 44.6%, meaning that you probably know someone personally who has been divorced. While not always an easy conversation to have, start by speaking with someone who has already worked with a divorce lawyer. While their experience is anecdotal, and will not represent all lawyers, their advice can be incredibly helpful.

For example, if they partnered with someone who wasn’t empathetic towards their situation or didn’t return phone calls in a timely manner, this is probably someone you don’t want to work with. On the other hand, if the lawyer laid out a comprehensive legal strategy for the divorce proceedings and offered sound advice from beginning to end, this may be someone to consider.

Don’t forget to use the power of the internet. Most law firms will have posted testimonials on their website but look at Google reviews and also search for the firm on the internet to see if they’ve been mentioned in news articles or other publications.

At Masters Law Group LLC, we’ve been voted Chicago’s #1 Divorce Law Firm. If you find yourself in the difficult position of ending a marriage, consider speaking with us today.

Interview the Firm

This advice should be employed in nearly all walks of life. Whether you’re choosing a school for your child, a mechanic, or a home builder, it’s always imperative to ask probing questions so that the expert on the other end of the conversation can prove their ability.

Here are a few questions to ask during that conversation:

  1. How often will we speak during the divorce process?
  2. Will my case be attended by one lawyer, or multiple legal professionals?
  3. What’s the estimated cost of working with your practice?
  4. If my spouse chooses to be more aggressive with their case, what steps can we take to mitigate those actions?
  5. Based on my situation, how does the court tend to rule?

Questions like the above can help you quickly get a feel for whether the lawyer you’re speaking to truly understands the divorce process and whether you can be confident in their skillset.

Masters Law Group LLC specializes in the Family Law and Divorce field. Schedule a consultation with us to speak about your family law case.

Understand the Process

In general, divorces start with a divorce petition, served by one spouse upon the other. That petition is then filed in the state/county where one party has their residency. Once this process is in place – depending on the state – a waiting period begins, certain financial restrictions are put in place and traveling with shared children may be prohibited. 

Beyond this, divorces can go many ways. If the process is delayed, or if submitted information is deemed incorrect by one party, there may be a back and forth between said parties that can last for some time. 

In the final stages of divorce, after assets and other financial information has been disclosed, terms may be agreed to. If the terms put forth by one party is contested, there may be continued hearings or ultimately a trial. If the terms are mutually agreed upon, final paperwork is fired and the court enters judgment. Beyond this, a waiting period is put in place, after which spouses can remarry.

It’s important to understand the above at the most basic level, as your lawyer should have a firm grasp of this process and know all of the challenges that can arise during it. Keep this in mind once you’ve chosen who to work with, and observe that they’re representing you at the highest standard throughout these stages.

Make Your Decision

Once you’ve done your due diligence researching a firm, asked all of the important questions and researched the divorce process to understand what you can expect, it’s time to make your decision. 

There are going to be many reputable firms out there, but ultimately what can give a practice the edge is experience. If they’ve been representing the community for years, then they have relationships with other lawyers and judges, an edge that shouldn’t be ignored . On top of this, their experience in the community will also mean that they are intimately familiar with all the relevant laws. Consider this as you make your final decision.

Masters Law Group LLC

At Masters Law Group LLC we’ve been representing the Chicago community for many years. Our principal, Erin E. Masters was named “Super Lawyer” in 2020 by Illinois Super Lawyers and the other members of our team hold similar honors. 

Our practices knowledge is thorough and our mission to ensure that your family law matter is resolved in the best way possible is our core value.

If you’re currently dealing with the difficult process of divorce, schedule a consultation with us today.

Hague Law with Masters Law Group

International Child Custody can be a legal minefield. Luckily, The Hague Convention on Civil Aspects of International Child Abduction (“The Hague Convention”) was enacted into law through the International Child Abduction Remedies Act (“ICARA”) which provides that a parent whose child has been wrongfully removed from or retained in the United States may petition for the child’s return to his or her country of habitual residence.

When parents divorce, deciding how to handle issues regarding your children can be intense. When parents originate from separate countries, these disputes can become complicated very quickly, especially when one parent attempts to move children across international borders.

When this happens you need a Hauge lawyer who is highly experienced in international law. They understand how to settle matters of jurisdiction involving courts in the United States and other countries across the globe (if these nations are a part of the convention).

Accredited family law attorneys Erin Masters and Anthony Joseph of Masters Law Group have extensive experience in cases involving international child abduction disputes in both courts located in the State of Illinois and the United States federal court system.

Here’s what you need to know about Hague law.

Understand How US Law Applies To International Child Removal 

In the United States, the International Child Abduction Remedies Act (ICARA) governs the procedures that U.S. courts use to implement the Hague Convention on International Child Abduction. The goals of both ICARA and the Hague Convention are to promptly return children to the country where they have habitually resided, and to protect parents’ custody rights across international borders.

The Hague Convention’s applicability can be determined by two factors:

(1) whether both parents have consented to their child’s removal from one country to another; or

(2) if a child has been wrongfully removed from one country and brought into another country without either parent’s consent.

Hauge Law is created in order to protect you and your family both nationally and internationally. Let’s take a look at the framework and what it entails. 

Hague Convention Framework

The hague convention framework was created to help countries find solutions for difficult custody cases where a child has been abducted. There are several situations where this can happen, but the most common is when a child is wrongfully removed from their habitual home and now lives in a foreign country.

The Central Authority must do the following:

  • Be the point of contact for parents and children in international child custody cases.
  • Help locate abducted children.
  • Encourage solutions that work for both parents.
  • Submit documents as part of the application are admissible in courts in partner countries.

Ultimately, when a parent’s custody rights are violated, a custody order is not needed to prove parental parenthood or marriage. A child being returned to his/her place of habitual residence does not depend on the immigration status/or nationality of the child or his/her parents.

Hiring a Hague Lawyer

If you need a Hague lawyer, we can help. We are highly experienced in international law and family law. Our goal is to make the legal system easier to navigate for our clients. We will make sure you understand your rights, so that you can make the best possible decisions for your family.

We can represent you if:

  • You live in the United States and your child has been taken across borders and overseas.
  • You live anywhere in the world and your child has been abducted into/out of the United States.
  • You have been accused of international child abduction and need a lawyer to protect your parental rights.

We will thoroughly investigate the facts of your case. We will give you straightforward advice so that you can make decisions with confidence knowing the legal implications of those decisions.

To learn more about your options, contact us to schedule a one-on-one appointment with our experienced Hauge lawyers, Erin E. Masters and Anthony G. Joseph. We will work aggressively to advocate on your behalf.

How Masters Law Group Can Help

Your child’s safety is always top priority. At Masters Law Group, our goal is to help you protect yourself and your children from international abduction, while also ensuring that you have access to them. 

Our Hague lawyers have extensive experience in international child abduction cases. Our clients span across the entire U.S., from Washington to Wisconsin, so you can rest assured knowing that the experienced Masters Law Group attorneys are fighting for you and your family.

For a list of our Hauge Decisions, see here.If you or a loved one is facing International Parental Child Abduction, contact Chicago attorneys at Masters Law Group today to schedule a consultation.

The Rise of the Crypto Divorce

Talk to anyone who’s gone through divorce and they’d likely say the experience was no walk in the park. If you’re facing a divorce in 2022, there’s a new asset that needs to be accounted for – Cryptocurrencies. Here’s what you need to know.

In the last few years, the cryptocurrency market has exploded. It’s hard to go a day without hearing about it in the news. But what does that mean for your divorce?

Well, if you’re dealing with a crypto-rich spouse, it can mean some serious headaches. Crypto assets are notoriously difficult to trace and control—and it doesn’t help that there are still plenty of legal gray areas when it comes to cryptocurrencies themselves. That means they’re not always easy to deal with in court cases like divorce proceedings.

When it comes to discovering hidden assets such as cryptocurrencies, Masters Law Group has your back. Here’s everything you need to know about crypto assets in divorce cases so you can make sure you’re getting what’s fair.

Cryptocurrency Basics

Cryptocurrency is a form of digital currency that uses the technology of cryptography to secure its transactions. It is designed to be used as a medium of exchange, like money, but it can also be used to transfer data securely.

One of the early appeals of cryptocurrency was that it provided the opportunity to transfer large amounts of wealth anonymously without any government or institutional interference. These days, cryptocurrency is used by some owners to take care of routine matters such as paying bills, buying goods, and others use it as collateral to obtain loans. Many others are purchasing it as a form of investment.

The most popular form of cryptocurrency is Bitcoin. Some examples of other digital currencies include Litecoin, Ethereum, Ripple, Zcash, Bitcoin Cash, Cardano, among others. 

Why is Cryptocurrency Relevant Upon Divorce?

Cryptocurrency is an asset to be considered in the financial settlement. The reality is that it is not a feature of mainstream divorce yet. This is because a large proportion of the general public still views cryptocurrency as too much of a gamble and the difficulty of identifying whether or not someone holds cryptocurrency.

However, with the current growth in popularity we can expect to see more cases involving cryptocurrencies as assets for divorce settlements. Cryptocurrency is increasingly being used as an alternative form of payment and investment, so it’s important to understand how it could be treated in your divorce case.

Looking For Cryptocurrency Assets

If you suspect that your spouse/civil partner is hiding cryptocurrency from you, there are steps you can take to investigate the matter.

First, make sure that both parties provide full and frank disclosure. This means that both parties should disclose all of their assets, including cryptocurrency. If one party suspects that the other isn’t disclosing cryptocurrency in the course of their divorce proceedings, then preliminary investigative works need to begin.

The standard disclosure process requires each party to disclose bank statements. These should be carefully examined to see if there are any transactions or proof of purchase of cryptocurrency i.e. exchanges or trading platforms. If the bank statements aren’t showing anything, then you can  request your spouse’s credit card statements. You also can make a specific request for disclosure of all apps on their spouse’s smartphone.

Agreements on Dividing Crypto Assets

The rise of cryptocurrency has created a whole new world for the courts. With its fluctuating value, crypto assets can represent substantial sums of money that are not always easy to track down. This can lead to court cases where one spouse is accused of hiding assets from their spouse, or where an unscrupulous party will try to use the anonymity of crypto assets to hide their own assets.

When a couple gets divorced, it can be difficult to determine how to divide the assets. In the case of cryptocurrency, however, the process is fairly straightforward.

  • Simple Division: You receive a share of the cryptocurrency in its current form.
  • Custodial Holding: If you decide to not set up a cryptocurrency account, you can find the custodial approach suitable. A third-party custodian can transact in cryptocurrency, receive your share and hold it until the divorce is final.
  • Cryptocurrency Owner Liquidation: The former spouse who owns the asset will convert the other party’s share to cash. The digital currency’s value on the day of sale determines how much money you receive.
  • Liquidation With No Claim Upon Remaining Cryptocurrency: This approach starts the same as #3. However, both parties have agreed in advance that the original owner of the cryptocurrency now has full title to the remaining asset and does not owe the former spouse any remaining crypto.

Regardless of whether you decide to keep your cryptocurrency or sell it off, it’s important to remember that there is no loophole when it comes to divorce proceedings. The courts are used to the volatility and fluctuating value of shares and other types of assets—cryptocurrency is a whole new phenomenon.

If you’re having doubts and suspect that your spouse is hiding crypto and don’t know what signs to look out for, you can find that information here. If you have questions about the different types of crypto and are trying to get acquainted with the market, you can find that information here.

Masters Law Group – Cryptocurrency and Divorce Lawyers

When you are facing the divorce process in Illinois and are dealing with cryptocurrency asset division, do not hesitate to call the attorneys at Masters Law Group. 

Our team of attorneys are highly experienced in dealing with Cryptocurrencies in divorce and are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.