An Illinois divorce will typically include issues such as the division of marital property and debt, parenting time and parenting responsibility (aka child custody and visitation), and child and spousal support. An uncontested divorce is one that is resolved without going to trial. In an uncontested divorce, couples may not agree on every issue, but…Read More
Tax Issues to Consider After Divorce
After a divorce is finalized, tax issues can resurface annually affecting couples for years to come. If you are divorced, here are some tax issues to consider. Are My Alimony Payments Tax Deductible? If spousal maintenance has been awarded through a divorce or separation agreement, payments are deductible by the payer and taxable to the…Read More
Protecting Against Your Soon to Be Ex’s Wasteful Spending
For many couples in Illinois, the decision to divorce results in the division of marital property and debt. Assets such as bank accounts, real estate or retirement accounts have to be split in a fair and equitable way, and this process can require significant planning and negotiations. A common question that comes up, especially in…Read More
DIY Divorce Can Be Costly
With all the information regarding divorce available on the internet and online companies offering to help you get divorced cheaply without the help of an experienced attorney, you may wonder if it is possible to finalize your own divorce to save time and money. As the saying goes, “If it sounds too good to be…Read More
Dividing Retirement Accounts in an Illinois Divorce
Dividing retirement accounts in an Illinois divorce requires some foresight. Parties in a divorce will sometimes approach property division with fairness in mind. They enter into the process saying that they will divide everything in half, fair and square. When you and your spouse make decisions regarding the division of retirement assets, paying attention to…Read More
Many Millennials Wait to Marry
Despite widespread acceptance for cohabitation outside of wedlock and unmarried woman raising children on their own, many continue to view divorce unfavorably according to a CDC survey. In fact many young people, who have the lowest marriage rates on record, do not think divorce is an acceptable response to marital problems. A conservative view in…Read More
Dividing the Family Business in a Divorce
If you are in business with your spouse and are divorcing, you will have to decide what to do with the business. One option is to continue to own the business together. If you and your spouse work well together and can continue to run the business after a divorce, you will both get to…Read More
Life After Illinois Divorce…The Improbable Other Side
If you are contemplating a divorce or have already started the process, it is sometimes difficult to see the proverbial ‘light at the end of the tunnel’. There are many issues to consider, such as how you and your spouse will divide property such as the family home, what arrangements to make for spending time…Read More
