Posted on November 23, 2021 in Child Support

Whether due to COVID-19 shutdowns or another reason, many people are finding themselves out of work. Unemployment can make it difficult for parents to cover child-related costs, including child support payments. However, a child's financial needs do not change simply because a parent loses his or her job. Consequently, unemployment can create a challenging situation for both parents.

If you are a payer or recipient of child support in Illinois, you may have questions about how unemployment affects your child support obligation. You may wonder if you or the other parent are still required to pay if you have zero income. The answer, like many answers in family law, depends on several factors.

Child Support Payments Are Based on Both Parents' Incomes

In 2021, Illinois child support payment amounts are calculated using a method that takes both parents' net incomes into account. The parent who spends the majority of the time caring for the child is the recipient of child support and the parent with less parenting time is the obligor or payer. When a parent has zero income, however, this does not mean that they are automatically absolved of child support obligations.

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 Posted on November 17, 2021 in Divorce

When a divorce involves a greater degree of disagreement than typical divorce cases, we often refer to this as a “high conflict divorce.” Spouses in a high conflict divorce face unique challenges both personally and legally. When spouses cannot cooperate, reaching an out-of-court agreement about divorce issues like property division or child custody can seem nearly impossible. Each situation is different and there is no perfect way to handle a contentious divorce. However, the following actions may help.

Do Not Try to Face This Alone

Many spouses underestimate just how complicated and frustrating a high-conflict divorce can be. They assume that they can handle the situation with little help from others. However, building a support team is one of the best things you can do to help you get through a contentious divorce. An experienced divorce lawyer can represent your best interests and provide legal guidance throughout the divorce process. However, in a high-conflict divorce, you may also want to work with additional professionals who can address the financial, personal, and psychological aspects of the split. A divorce coach or counselor can provide an outlet for you to vent frustrations and cope with difficult emotions. Accountants and other financial professionals can help you make sound financial decisions that benefit you both during and after the divorce.

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 Posted on November 09, 2021 in Divorce

Alimony, called spousal maintenance in Illinois, can be a crucial form of financial assistance after divorce. If you are getting divorced, you may have questions and concerns about spousal maintenance. Unique financial situations, including variable income, can make the process of calculating a reasonable spousal maintenance award much more complicated. If you or your spouse are pursuing spousal maintenance in your divorce case, an experienced lawyer can provide personalized guidance.

Calculating Net Income to Determine Spousal Maintenance

Illinois law sets forth a statutory formula for calculating alimony. The amount of alimony paid is equal to 33 percent of the payer's net income minus 25 percent of the receiver's net income. A spouse's net income is calculated by taking his or her gross pay and subtracting state and federal taxes, social security, certain retirement contributions, certain business expenses, and any spousal support or child support obligations from a previous marriage.

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 Posted on October 29, 2021 in Divorce

One of the most consequential factors in any divorce case is the division of marital assets and debts. Dividing the funds in a checking account or deciding which spouse will keep the furniture may be accomplished with relatively little complication. However, complex assets like pensions and other retirement accounts are much harder to deal with during a divorce. One reason pensions are especially hard to divide is that the final value of the pension is often unknown at the time of divorce. If you or your spouse have a pension, a skilled divorce lawyer can help you decide how to divide this important asset.

Determining Property Rights in an Illinois Divorce

Illinois law divides property into two categories in a divorce. Marital assets are those assets that were accumulated during the marriage by either spouse. Non-marital property is property that was obtained by a spouse before the marriage. Both spouses have a right to a fair share of the marital property.

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 Posted on October 22, 2021 in Premarital Agreement

Divorce often creates an opportunity for a second chance at love. If you are engaged to be married, and the union is your second or third marriage, you are likely excited and enthusiastic about the upcoming wedding. However, it is important to remember that marriage is a legal partnership. Consequently, you should be aware of the legal concerns you may face.

Your Marriage Can Influence Spousal Support and Child Support

Spousal support or spousal maintenance is usually ordered for a specific length of time. However, spousal maintenance almost always terminates when a recipient gets remarried – even if the original spousal maintenance order was intended to last longer. You are obligated to notify the paying party, your former spouse, at least 30 days before the marriage. This gives him or her time to file a motion to terminate spousal maintenance.

Child support payments are dependent on the parents' net income. Your new spouse's income is not included in child support calculations. However, your new spouse's financial situation may influence your own financial situation that can impact child support.

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 Posted on October 18, 2021 in Divorce

For many, divorce marks the beginning of a new adventure. Unhappy spouses who finally decide to end their marriages may be excited and anxious to start their new post-divorce lives. If you are like many people getting divorced, you may wonder, “When is it a good time to start dating?” You may worry that dating before the divorce is final could count as adultery or negatively impact your divorce case. While the decision to date during divorce is completely up to you, you must consider how dating before the divorce is finalized may influence the divorce's outcome.

Dating Before Finances are Separated Could Lead to Dissipation of Assets

There is no rule that says you cannot date before your divorce is completed. However, you should know that Illinois law allows spouses to file “dissipation of assets” claims if their spouse wastes or misuses marital funds prior to the divorce. One way to ensure that you do not accidentally commit dissipation of assets is to separate your finances and file for divorce before you spend any money on a new boyfriend or girlfriend.

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 Posted on October 04, 2021 in Divorce

Many people assume that having money makes everything easier. However, owning high-value assets can actually make your divorce case much more complicated. If you or your spouse have a high income or own substantial assets, you must understand how this wealth will impact your divorce case. The division of property and debts, child support, spousal support, and other divorce issues are largely determined by the parties' financial circumstances. Consequently, it is important for high-net-worth spouses to work with a divorce lawyer familiar with the types of challenges commonly encountered in high net worth divorce cases.

You Will Need to Properly Value Assets

In Illinois, both spouses are entitled to a portion of property held by the marital estate. However, before spouses can negotiate a property division settlement, they must value the property. Determining the value of property like stocks, stock options, investments, digital currency, real estate, business interests, and professional practices is complex and typically requires input from a professional appraiser.

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 Posted on September 30, 2021 in Divorce

Digital currency or “cryptocurrency” has skyrocketed in popularity in the last few years. Cryptocurrencies like Bitcoin, Cardano, Ethereum, and Tether rely on cryptography to secure and verify transactions. The currency is not regulated by the government or tied to any bank. Unfortunately, these features make cryptocurrency a popular choice for spouses who wish to hide assets in a divorce.

Financial Fraud in an Illinois Divorce

Nearly every part of a divorce case is affected by finances – especially in a high net worth divorce. Even if spouses reach an out-of-court property division settlement, the agreement they come to is dependent on each spouse's income, assets, and liabilities. Child support and spousal support are also calculated using each spouse's financial circumstances. A spouse who wishes to sway the divorce outcome in his or her favor may underreport assets or “hide” assets by transferring the assets to another party. Because cryptocurrency does not show up on a bank statement, it is increasingly used to conceal wealth in divorce cases.

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 Posted on September 20, 2021 in Child Custody

As a parent, you want the absolute best for your child. This includes the best possible child custody arrangement after a divorce. However, many divorcing parents disagree about what is best for their children. This blog explores some of the most popular dispute resolution methods for parents who disagree about parental responsibilities and parenting time. There is no one-size-fits-all solution for child custody disputes. The right approach will depend on your relationship with your soon-to-be-ex, your child's needs, and a variety of other factors.

Family Law Mediation May Help You Resolve Child Custody Disagreements

A family law mediator is trained in conflict resolution, de-escalation tactics, and communication skills. During a child custody dispute, the mediator's job is to help parents discuss child custody issues, find common ground, and reach compromises. Understandably, many parents have strong opinions about their children and can sometimes let their emotions cloud their judgment. The mediator helps parents avoid contention and stay focused on finding a solution.

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 Posted on August 24, 2021 in Divorce

Divorce cases vary dramatically in complexity. A couple who rents their home, owns few assets, and does not have children can typically expect a relatively simple, straightforward divorce. The more high-value assets a couple owns, the more complicated the divorce process becomes. If you or your spouse have a high net worth, own a business or professional practice, or have substantial investments, you should know that your financial success will likely complicate your divorce. The good news is that there are several different ways to get divorced in Illinois. For many high-net-worth couples, a collaborative divorce is the right approach.

Working Together to Resolve Divorce Issues

If you are like many divorcing spouses, you may want the divorce to be as non-adversarial as possible. Fortunately, as the name implies, collaborative divorce is designed to be collaborative. The spouses and their attorneys are focused on reaching solutions that both parties walk away from feeling good about. Attorneys trained in collaborative law understand that it is possible to protect their clients' rights and advocate on their behalf without hostility or contention.

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