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.

Crypto Divorce Lawyer

Dividing assets is a standard part of any Illinois divorce case. At Masters Law Group, our skilled cryptocurrency divorce attorneys track down these digital assets and negotiate an appropriate and fair division.

While some cryptocurrencies are easily found during the discovery phase of divorce proceedings, others, such as bitcoin, can be more challenging to find, particularly when they are private. If you have an impending divorce on your hands, you need to know how to find, value and divide them.

If you or your spouse own cryptocurrency, you are going to want to make sure it is discussed with your divorce attorney. It may be a marital asset that needs to be valued and divided; but due to cryptocurrency wildly fluctuating, it can sometimes be problematic to value, and therefore split fairly.

Here’s what you need to know about handling bitcoin and other cryptos in divorce.

A QUICK RECAP OF CRYPTOCURRENCY

The use of cryptocurrency varies user to user. Some people prefer to use cryptocurrency for online purchases to ensure secure financial transactions. Others might use it simply to capitalize on discounts or rewards offered for the use of digital currencies.

The most popular form of cryptocurrency is Bitcoin. Some examples of other digital currencies are Litecoin, Ethereum, Ripple, Zcash, Bitcoin Cash, and Cardano. Digital currency is bought, sold, and traded on various platforms. Coinbase is a popular platform used for Bitcoin. Some other digital currency exchange platforms are Kraken, BitStamp, ShapeShift, Gemini, and Bisq.

Cryptocurrencies are validated by a blockchain. This refers to a list of records called blocks that are linked together like a chain. Blockchains are designed to be secure. The foundation of a blockchain is a “decentralized database.” Blockchains can include a piece of information called a hash.

It is very important to know if any parties in a family law matter have cryptocurrency. Cryptocurrency can be a marital asset eligible for division in a divorce. If you know cryptocurrency exists, it will need to be valued. Cryptocurrency has an exchange rate just like standard currency and it can be converted into U.S. dollars. There are programs on the internet that can assist with the conversion of cryptocurrency to dollars. It may be helpful to know which conversion rate program that cryptocurrency owner utilizes.

LOOKING FOR CRYPTOCURRENCY

Valuation presents the primary difficulty when two people need to divide digital currency. Cryptocurrency assets are notorious for sharp shifts in value over short periods of time.

Figuring out whether or not cryptocurrency exists is important. Have you discussed cryptocurrency with your spouse? Have you overheard them boating to their friends about their crypto wallet? Will bank account statements or credit card statements show deposits or withdrawals from a digital currency platform? Are there emails or other correspondence that contain information about cryptocurrency?

If any of these are true in your marriage or divorce, you should notify your attorney immediately. Your attorney will need to start collecting information about the cryptocurrency. Obtaining documentation about cryptocurrency can be tricky because often the point of cryptocurrency is for transactions to remain private or secure.

First, it needs to be determined if the cryptocurrency owner has a wallet and whether that wallet is online or is a physical device. The wallet will have an ID and a password for logging which can be requested in discovery. Wallets can be similar to a portable hard drive and be an actual physical item. In other instances, the wallet may just be online and through one of the cryptocurrency exchange platforms. Different steps need to be taken to preserve information from both kinds of wallets.

An owner can usually download a transaction history from his/her wallet or exchange platform. The transaction history is often downloaded as an Excel spreadsheet or other electronic document. The download contains information like a bank statement such as date, time, amount of cryptocurrency, conversion rate, balance, transaction ID, and hash information.

Most transactions will show some sort of confirmation of purchase. Often the confirmation occurs via email and serves as a receipt. The confirmation may include the conversion rate, dollar amount, and a date and timestamp. In some instances, the confirmation may identify where the cryptocurrency user deposited the funds after sale or where they withdrew the funds from to make a purchase. This can help you in the long run to identify other assets.

Cryptocurrency Division

After identifying crypto as a marital asset and considering its valuation, you have four main options for dividing the assets in  question:

  • Simple Division: In this approach, you simply receive a share of the cryptocurrency in its current form.
  • Custodial Holding: Should you not wish to set up a cryptocurrency account, you may find the custodial approach suitable. A third-party custodian who can transact in cryptocurrency receives your share and holds 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 more of the cryptocurrency regardless of how its value may change in the future.

Choosing how to distribute cryptocurrency in a divorce requires careful evaluation. You may need to weigh advice from your divorce attorney to arrive at the best solution for your unique case.

FINAL THOUGHTS

These days, bitcoin and other cryptocurrencies are all the rage. As such, the issue of bitcoin is bound to pop up in divorce cases.

Lack of familiarity with cryptocurrency or outright discomfort with it add another wrinkle to divorce negotiations. Which is why it is important to make sure that bitcoin is properly discovered and valued in family law matters. If you know or suspect that cryptocurrency will be a part of your divorce, talk to your family law attorney immediately and put together a game plan for dealing with it. This may include a plan for how to explain how cryptocurrency works with other parties or professionals in your case.

If you are concerned about how your or your spouse’s cryptocurrency assets could affect your divorce or the asset division process, Masters Law Group can help. Our team of highly trained and experienced attorneys are here to answer your questions about divorce and digital asset division.

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

Masters Law Group Recognized in the 2023 Edition of “Best Lawyers in America”

Masters Law Group is a Chicago family and divorce law firm focused on solving problems and achieving the best possible result for our clients. We’re proud of our industry achievements, now including being recognized for professional excellence in the 29th edition of The Best Lawyers in America® in two categories.

As part of the 2023 selection of distinguished firms, Masters Law Group was regionally ranked in two practice areas, Family Law and Family Law Mediation. 

Best Lawyers in America is the oldest and one of the most respected peer-review publication in the legal profession. Best Lawyers lists are compiled based on exhaustive peer-review evaluation. Lawyers are not required or allowed to pay a fee to be listed; therefore inclusion in Best Lawyers is considered a singular honor.

This recognition honors the professional accomplishments of the top tier legal talent in the country who were selected by their peers through Best Lawyers’ rigorous and peer-reviewed selection process. More than 12.2 million evaluations were analyzed, resulting in the recognition of only 5.3% of lawyers in the United States. Achieving this recognition signals a unique combination of quality law practice and breadth of legal expertise.

Masters Law Group is delighted to once again receive such recognition. 

About Masters Law Group

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

Our recent recognitions in Family Law and Family Law Mediation highlights our experience, dedication and talent in these fields.

Our Attorneys

Best Family Law Attorney

Erin E. Masters (Attorney / Family Law Mediator) and Anthony G. Joseph (Attorney / Guardian Ad Litem/Child Representative) both have extensive experience and knowledge in family law and family law mediation.

Ms. Masters’ recent recognitions include in Family Law and Family Law Mediation, and has represented a variety of clients, both pre-decree and post-decree. 

“We are honored that Masters Law Group has been recognized by Best Lawyers® for the sixth consecutive year.” commented Managing Partner Erin Masters. “We thank all our fellow attorneys in the Chicago Metropolitan area for including us in this prestigious list as well as our attorneys and staff for their hard work and dedication in serving our clients.”

In addition to representing clients, Ms. Masters is also a court-appointed Child Representative and has experience advocating for children in these high-conflict matters. Further, she has also been appointed by the Circuit Court of Cook County to mediate complex family law cases.

2023 Best Lawyers

Anthony G. Joseph has been recognized for his excellence in Family Law and is an active trial lawyer whose practice focuses exclusively on Family Law and on the list of approved Guardian Ad Litem/Child Representatives for the Domestic Relations Division of the Circuit Court of Cook County. He has an emphasis on International Child Abduction and cross-border custody issues pursuant to the Hague Convention of 1980 and the UCCJEA. Mr. Joseph also publishes in the area of civil litigation.

WORK WITH THE BEST

With a long history of awarded recognitions in Family Law, Masters Law Group LLC has a unique depth of knowledge, experience and talent in the Family Law and Divorce field.

Masters Law Group is dedicated to understanding your individual needs and helping you work through stressful situations in the Family Law and Divorce fields. They move through settlement negotiations, mediation or litigation with their clients’ assurance and well being in mind.

Schedule a consultation here to speak with an experienced attorney regarding your family law matter today.

 

 

International Child Custody: How Masters Can Help

Every year, children are wrongfully removed from the United States or retained outside of the U.S. in violation of parental custody rights. Whether trying to identify risk factors or your child/children have been removed from their habitual residence, knowing your legal options through The Hague Convention could prove detrimental in protecting victims involved. 

When Illinois courts determine custody arrangements, they ultimately consider the best interests of the child/children involved. However, what are often relatively simple custody matters can quickly become complicated when one parent moves out of the state or out of the country. Especially unlawfully.

If you need legal representation to protect your rights or the rights of your child, we can help. At our downtown Chicago law office, we represent parents and children in a variety of complex international custody disputes. Here’s what you need to know.

Negotiating International Child Custody Disputes

Parents who wish to move out of the country may do so by seeking a custody modification just as they would if they were moving out of state. Complications arise when a parent moves out of the country before a custody order is finalized or when a parent does so in violation of an existing order. When a parent moves out of the country in direct violation of a custody order, he or she is committing international parental child abduction.

The Hague Convention on the Civil Aspects of International Child Abduction provides an expeditious method to return a child internationally abducted by a parent from one member country to another. The powerful international treaty that can yield beneficial results when it is implemented correctly and appropriately.

The Hague Convention

Many countries subscribe to the Hague Convention, which facilitates reciprocal agreements when it comes to custody. Although the Hague Convention does not ultimately decide custody cases, it does determine which jurisdiction or which country should hear the case. Generally, this is where the child had established familiar roots before his or her removal or abduction or, as the Convention calls it, the child’s “habitual residence.”

Because many countries do not have formalized laws regarding international child abductions and because there are so many variables involved with each case (such as whether or not both parents want custody), there are no hard-and-fast rules for international child abduction cases. Each situation must be evaluated on its own merits and in light of that particular nation’s laws and regulations regarding custody matters.

International parental abductions of U.S. children have been reported in countries all over the world, including Australia, Brazil, Canada, Colombia, Germany, India, Japan, Mexico, Philippines, and the United Kingdom. A parent who is left behind when a child is abducted to another country faces daunting obstacles to finding and recovering the child.

A History of Success Serving Clients In Illinois and Internationally

Masters Law Group has extensive knowledge and experience with The Hague Convention 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. 

Our clients span across the entire United States, from Washington to Wisconsin; so you can rest assured knowing the experienced Masters Law Group attorneys are fighting for you and your family. Our attorneys understand the laws in these highly sensitive cases. Their priority is to ensure the kids return to safety and that they have the opportunity to exert their rights and obtain justice. 

Here are just a few of our featured Huage Cases:

How Our Firm Can Help

If you are in need of an international child abduction lawyer, we can help. The legal system is a complicated and confusing place. That’s why we’re here—to make sure that you understand your rights and options, 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 abducted into a foreign country.
  • You live anywhere in the world and your child has been abducted into the United States.
  • You have been accused of international child abduction and need a lawyer to protect your parental rights.

We will carefully examine the facts to determine the strength of your case. We will give you straightforward advice so that you know exactly where you stand in the eyes of the law.

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

Contact Masters Law Group Today

Illinois is a community property state, which means that all of the marital property is divided equally between the spouses. This can have a significant impact on child custody arrangements, especially if one spouse intends to leave the state or country.

If you have found yourself in a situation where your former spouse has unlawfully fled the country with your child, you should contact your attorney right away. At Masters Law Group, we can handle the process of contacting domestic and international governments to ensure that your rights are being protected.

Our attorneys have extensive knowledge and experience with The Hague Convention on Civil Aspects of International Child Abduction (“The Hague Convention”) that was enacted into law through the International Child Abduction Remedies Act (“ICARA”). Our experienced attorneys will provide you with detail-oriented representation as each case is unique. Contact our Chicago office to schedule a consultation today.

Chicago’s #1 Divorce Law Firm

Whether you are going through a divorce, a child custody dispute, or other family law issue, you want to find the best family law attorney for your situation. Today we’ll tell you why we’re the #1 premier family law group in Chicago for those facing divorce.

As the vows are read aloud, no one anticipates a future divorce. Whether you’ve been married 50 days or 50 years, situations change, people change, and life simply doesn’t work out how you imagined it. And that’s ok.

Marriage and divorce are both common experiences for adults, although both can be challenging. About 90% of people in Western cultures marry by age 50. In the United States, about 50% of married couples divorce, the sixth-highest divorce rate in the world. Subsequent marriages have an even higher divorce rate: 60% of second marriages end in divorce, and 73% of all third marriages end in divorce.

So if you find yourself in the extremely tough position of ending your marriage, you need the right support on your side. There are many legal professionals to choose from, so it’s crucial to know what to do and who to ask for help.

A Little Bit About Masters

A premier family law group servicing Cook, Will, Lake, and Dupage counties, Masters Law Group LLC is a Chicago-based law firm that has a unique depth of knowledge, experience and talent in the Family Law and Divorce field

Masters Law Group’s dedicated attorneys have a unique depth of knowledge, experience and talent in the Family Law and Divorce field. including DuPage, Will and Lake. 

Our downtown firm and attorneys have won many awards for their work, including but not limited to, Best Law Firms by US News for years 2021 and 2022, Leading Lawyers recognizing Erin Masters, Super Lawyers recognizing Anthony G. Joseph, The Top 100 Lawyers, and the 10 Best Attorneys for client satisfaction.

As of last week, we have been formally recognized as 2023 Best Lawyers!

BEST LAWYERS 2023

Simply put, our commitment and dedication to clients is simply unmatched.

Let’s take a further look at our attorneys, and what we do best.

Our Attorneys

As you can see, our award-winning attorneys are highly experienced in their field of work. Especially when it comes to divorce in the state of Illinois.

Erin E. Masters is the principal of Masters Law Group, located in Chicago, Illinois. Masters Law Group concentrates in the area of domestic relations, which includes a heavy focus divorce and the relative legal subsidiaries that span from divorce (such as Divorce Mediation, Parenting Time, Allocation of Parental Responsibilities and Post-Divorce Disputes).

Erin E. Masters

Ms. Masters earned her Bachelors of Arts degree in Psychology from the University of California, San Diego, where she attended on a merit based scholarship. She would go on to receive her Juris Doctorate and Certificate in Child and Family Law from Loyola University of Chicago, School of Law, in May of 2004.

Erin was admitted to the Illinois Bar in November 2004 and to the General Bar for the United States District Court for the Northern District of Illinois in 2005 and the United States District Court for the Eastern District of Wisconsin in 2020. Ms. Masters was admitted to the United States Supreme Court in March 2009.

Throughout her career Ms. Masters has represented a variety of clients, both pre-decree and post-decree. In addition to representing clients, Ms. Masters is also a court-appointed Child Representative and has experience advocating for children in these high-conflict matters. Further, she has also been appointed by the Circuit Court of Cook County to mediate complex family law cases.

Anthony G. Joseph is a senior and founding attorney at the firm and received his B.A. degree in Global Economic Relations from the University of the Pacific in Stockton, CA.

He obtained both his J.D. degree and Certificate in Trial Advocacy from The John Marshall Law School in Chicago, Illinois.

Mr. Joseph was admitted to the Illinois Bar in November 2010, the Federal General Bar and Trial Bar for the United States District Court for the Northern District of Illinois in 2012 and the United States District Court for the Eastern District of Wisconsin in 2020.

Anthony G. Joseph

Furthermore, Anthony is an active trial lawyer whose practice focuses exclusively on Family Law, with a particular emphasis on International Child Abduction and cross-border custody issues pursuant to the Hague Convention of 1980 and the UCCJEA. Mr. Joseph also publishes in the area of civil litigation.

Mr. Joseph is “AV” Preeminent Rating from Martindale-Hubbell Peer Review, which is the highest peer review rating available and has been named a “Rising Star” by Illinois Super Lawyers in both 2019, 2020 and 2021. Mr. Joseph is also on the list of approved Guardian Ad Litem/Child Representatives for the Domestic Relations Division of the Circuit Court of Cook County.

Karly Armstrong is an associate attorney at Masters Law Group, she received her B.A. in Political Science & Interdisciplinary Social Sciences – International Studies from the State University of New York at Buffalo in 2016 and graduated magna cum laude. 

Throughout her time at the State University of New York at Buffalo, she was in the advanced honors program and wrote her undergraduate thesis on Middle Eastern women’s rights movements.

Karly Armstrong

Karly received her J.D. from Loyola University Chicago School of Law in May 2021. At Loyola, she was on the ABA Negotiations Team. She also was a student clinician at the Loyola Community Law Center where she served as a Guardian ad litem in contested minor guardianship proceedings. Karly took her Illinois bar exam in July 2021 and passed. She has been admitted to the Illinois bar since November 2021.

Karly is proactive in helping those who are seeking advice when it comes to divoce in the state of Illinois.

What Does a Divorce Attorney Do?

Divorce lawyers provide advice on marriage termination, including dividing assets, custody, and the options available to the client under the law. When looking for a divorce lawyer, word-of-mouth referrals from friends, family, and other professionals are a useful place to start.

Seeking out attorneys who specialize in areas such as custody or division of assets can also be beneficial.

Masters Law Group understands that divorce is a stressful situation and that our clients want to move on with their lives. As such, we move through settlement negotiations, mediation or litigation with our clients’ assurance and well being in mind.

Divorce cases involving substantial assets or complex estates require specialized knowledge.  Masters Law Group is skilled at identifying and valuing assets and wealth, including real estate, securities, business interests, retirement funds, pension plans, tax shelters (domestic and foreign), overseas accounts, stock options, trusts and other actual or potential sources of wealth.

Let’s Get to Work

We understand everyone’s individual needs are different, which is why our first step is getting to know you and understanding your unique situation. 

Whether you are facing a contested divorce, civil union, or series of different divorce-related issues, our firm’s attorneys are ready to skillfully advocate for your position and provide your voice when you need it most. Contact us today to schedule a consultation.