Author Archives: Law Office of Fedor Kozlov, P.C.
How Is Asset Division Decided In Illinois?
U.S. states follow either of two approaches when it comes to in a divorce settlement; namely the equitable distribution method and the community approach. However, most states such as Illinois prefer fair equitable division. While it is fair, it doesn’t necessarily mean it’s equal. Asset Division in Illinois Rather than dividing marital property straight… Read More »
Divorce Questions Answered By Schaumburg Divorce Lawyer
What is an uncontested divorce, and how does it differ from a contested divorce? Do most people realize there are two ways to approach divorce? Sometimes I have clients who know that there’s a difference between uncontested and contested. I would estimate that 50% of the clients know prior to our consultations. If they… Read More »
How Do I Make Sure My Ex Pays Their Share Of Our Debts?
Debt division In Illinois is different post-divorce compared to other states. Unlike the latter, the former requires that marital debt be divided equitably, not equally. In other words, a 50/50 division is not allowed. That’s because a number of factors are taken into consideration when it comes to determining who is responsible for what… Read More »
How Do I Protect My Business Assets During Divorce?
Building a business until it is substantially profitable can take years, so how do you protect business assets after all of that effort? The last thing you want is to split business assets with your ex-spouse during a divorce. This can be a problem in Illinois since in the state marital property and assets… Read More »
What to Do If Your Ex Refuses to Pay Child Support
According to Illinois child support law, a child support order is a court order. If the obligor fails to make payments or delays them, he/she can be held in contempt. This in turn can lead to a six (6) month jail sentence or probation. During imprisonment, they may be allowed to work, but a… Read More »
Child Support Law in Illinois: What You Need to Know
They say it takes a village to raise a child, but children are the first ones to suffer when the flow of money runs out. Children are dependent on their parents when it comes to their education, health care, food, clothing, etc. When parents divorce, the non-custodial parent is ordered to pay child support… Read More »
Are Gifts and Loans Considered Income in Child Support Cases?
Illinois has specific guidelines when it comes to determining child support obligations after divorce proceedings. According to the guidelines, the award is calculated according to the net income of the non-custodial parent. A small percentage of that income is allocated to child support, according to the number of children he/she is responsible for. Unless… Read More »
Understanding Illinois Cohabitation Agreements
There are several reasons why a couple may choose to remain unmarried. Perhaps they are disheartened by the institution of marriage because of a previous divorce or maybe they just want more freedom. Only the individuals in the relationship can decide if marriage is right for them or not. In Illinois, they can even… Read More »
Spousal Support and Tax Implications
In Illinois, spousal maintenance payments or alimony can be deducted by the party that is responsible for paying them for tax purposes. Also, the receiving party can also count it as taxable income. These payments can be made non-taxable or non-deductible in the divorce settlement as well. What Does Not Come Under Spousal Maintenance… Read More »
Holiday Breaks and Child Care
During the first year of a divorce, holidays can be a difficult time – not only for the parents but for children as well. Happy memories from times when families were together can take a toll on your children. The good news is you can make the holiday transition easier for your children by… Read More »