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What You Should Know About Post-Divorce Judgment Issues

After a divorce has been settled, problems between the ex-spouses sometimes persist that can be handled by following proper legal procedures. Fortunately, some aspects of the dissolution of marriage agreement are modifiable, if the situation for either party has changed to the extent that it mandates the modification of the divorce decree. In most cases, post-divorce judgment issues arise due to child-related matters, such as parenting time and child support. If you file a petition in the court for modification, you need to prove that the circu...

Bankruptcy and Spousal Maintenance: What you Need to Know

Filing for bankruptcy is a major decision that significantly affects the financial affairs of the petitioner. Payment plans are drafted, the automatic stay is issued, creditors are informed of the bankruptcy status, and certain debts are eliminated altogether. However, if you are going through a divorce, you may be confused about what will happen to your spousal maintenance payment after you have declared bankruptcy. Will you have to pay your alimony obligation or will it be discharged? Spousal Maintenance – A Non-Dischargeable Financial ...

Important Steps to Take After your Divorce has been Finalized

Your divorce has been finally settled. No more legal documentation and paperwork, no more court proceedings, no more contacting your attorney, and no more fighting. However, there are still some important unsettled matters that you must take care of before you can finally breathe a sigh of relief. Here is a list of things that you should address after your divorce to reflect your newly single status, both financially and legally. Thoroughly Review the Divorce Decree This may seem like an obvious thing to do, but many people do not even bother t...

Is Property Division through Mediation a Good Idea?

Relationship breakdown and the decision to get a divorce can lead to a series of emotionally distressing events. Not only do you have to cope with the stress and emotions, but also make important decisions regarding division of assets and property. You may have worked hard with your spouse to build a life together, bought vehicles and a home, started a business together, and saw your investments grow with time – it will not be easy for you to divide everything without letting anger and disappointment influence you. Instead of going to court a...

All you Need to Know about 2017 Child Support Law

Governor of Illinois, Bruce Rauner, signed the Public Act 99-0764 into law on August 12, 2016. It changed the way child support is calculated by Illinois family courts. This new law has been put into effect as of July 1, 2017 after which two sections of the IMDMA have been modified, i.e., 750 ILCS 5/510 and 750 ILCS 5/505. Why Were Changes to Illinois Child Support Law Made? For the past 30 years, the percentage model had been used for child support determinations. However, the limitation of that model is it only takes into account the supporti...

Why High Net Worth Divorces Are More Complex

When substantial marital estate is involved, the division of property and divorce process becomes more contentious and complicated, with disputes arising at every single point. It is common for individuals having high value to have significant marital estates, which may include business interests, real estate holding, investments, complex trusts, international assets, and retirement accounts. These high net worth assets can make divorce proceedings highly complex, making property division challenging for everyone involved. Illinois is an equita...

Factors Influencing the Parenting Time Schedule

Under the Illinois Marriage and Dissolution of Marriage Act (IMDMA), divorcing parents are required to work on a parenting plan where both parties have to mutually agree on all of its aspects. Generally, a parenting plan comprises of a schedule for parenting time (formerly known as visitation), among other things, for taking care of children. The IMDMA statute, 750 ILCS 5/602.7, has guidelines for parents and courts, and requires including a caveat in case they are unable to cooperate. If the divorcing parents fail to reach an agreement regardi...

Understanding the Changes to the New Illinois Maintenance Law

Modifications to the Illinois Marriage and Dissolution of Marriage Act in the Sections 504 and 505 have been made that has changed the way maintenance or alimony is calculated in dissolution of marriage. These amendments were put into effect on January 1, 2015, and if you are planning to get a divorce in Illinois, it is imperative that you understand these new changes and how they affect the duration and amount of maintenance in your case. How Illinois Maintenance Law Changed in 2015 Before the amendments were enforced, judges held a lot of dis...

FAQs About Asset and Property Division in Illinois

If you are planning to get divorced, you may have some questions regarding how your property and assets will be divided between you and your spouse. Here we have answered some common questions that most of the clients ask our family law attorneys: Q: How will my property and assets be distributed? A: Illinois is an equitable distribution state, where marital property is subject to be divided in just proportions instead of equally. The distribution is based on several factors, including: The value of non-marital property of each spouse How much...

Is Collaborative Divorce the Right Choice for you?

At the time of divorce, spouses have two options at their disposal: either to go through the lengthy, costly contested divorce, or work together to settle things through a collaborative divorce. The latter involves both parties to discuss and work out on main issues, such as maintenance, parental responsibilities, property division, custody and others, in the presence of attorneys and other professionals. It is less complicated and expensive as compared to the former option. The Process of Collaborative Divorce A collaborative divorce generally...

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