No Hiding The Ball: 5 Special Considerations For Athletes In Chicago Divorces
Athletes are truly some of America’s most revered heroes. When we watch athletes play the sport of their passion, we often see miracles happen and impossible dreams achieved. However, off the field, athletes lead lives of their own, and they are not immune to the struggle and strife of married life. Indeed, just like any other average couple, athletes can and do get divorced, and are required to go through the same divorce process to officiate their split, just like everyone else. Unlike the average divorce, athletes may be faced with a number of unique issues, due to the nature of their job, their financial picture, and the high-profile nature of a top athlete divorce. Here are five little-known considerations that may come up in an athlete’s divorce:
#1. Child Custody and Parenting Plans for Chicago Athletes
Although in every divorce where children are concerned child custody and parenting plans must be hammered out, athlete divorces in Chicago may have an added layer of complexity. Athletes often have difficult and demanding schedules that may be irregular and require a lot of travel. This is an issue that must be considered in a Chicago divorce when it comes to crafting the parenting plan and determining child custody issues.
#2. Spousal Maintenance/Alimony in Chicago Athlete Divorces
In many marriages where one spouse is an athlete, there is a disparity in earning power between the non-athlete spouse and athlete spouse. If the non-athlete spouse has been financially dependent on the athlete spouse, a Chicago court may award the non-athlete spouse alimony or spousal support.
#3. Assets and Chicago Athlete Divorces
Assets and property must always be divided up in any divorce, but in high net-worth divorces, especially those involving athletes, the financial picture may be more complex. Athletes often have valuable contracts, endorsement deals, and other investments that are difficult to divvy up in a divorce and will likely need expert help to appraise and divide.
#4. Privacy Concerns and Chicago Divorces Involving Athletes
There is no doubt that the divorce of a high-profile, wealthy athlete has a high chance of catching the attention of the press. Athlete divorces may need heightened privacy protections and practices to keep the details of the divorce out of the public eye and to remain in the courtroom.
#5. Tax Considerations and Chicago Athlete Divorces
With the variety of deals that an athlete may enter into, along with a host of valuable assets, properties, and accounts, there may be special tax issues in a Chicago athlete divorce that must be considered. Speaking with a professional about any tax consequences is prudent when involved in a Chicago athlete divorce.
Help for Divorcing Spouses in Chicago
Whether you are an athlete, or simply a sports fan, if you have questions about your Chicago divorce, contact the experienced Chicago divorce lawyers at the law firm Birnbaum Gelfman Sharma & Arnoux, LLC. The experienced Chicago divorce lawyers at Birnbaum Gelfman Sharma & Arnoux, LLC offer a confidential consultation to learn about your divorce and to see if they can help advocate for you. Contact Birnbaum Gelfman Sharma & Arnoux, LLC today and learn about your rights and options.
