Posts By: MICHAEL C CRAVEN

Safeguard Your Financial Future After Your Divorce

During a divorce, your financial future could depend on how you divide assets between you and your spouse. Keep in mind, this is not legal advice. However, dividing assets could affect your upcoming taxes and further effect your retirement accounts as they mature. You might even find your divorce could influence future generations. Here is a brief discussion of three phases of your financial future and the strategies you might take to secure them.   Preparing for the Upcoming Tax Year One o...   Read more ...  

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Can Alimony Be Garnished From a Personal Injury Settlement?

Income, for some people, is easy to define. Some people have jobs which involve regular, monthly payments. However, there are types of earnings a court may not consider as income, at least not for the purposes of child support and alimony.   The question of whether spousal maintenance payments could be garnished from personal injury settlements is a complex question. Therefore, please do not regard any of this as legal advice. Understanding how your own finances might relate to the Illinois...   Read more ...  

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Divorce and College Tuition

Seeing your children go to college is an emotional time. It’s difficult for everyone to let go. For the teenager, they feel pressure as they prepare for the next chapter in their lives. For parents, regardless of your marital status, it’s seeing your children be independent for the first time and feeling the stress of ever-increasing price of college tuition.   For divorced couples, the question regarding who pays for college tuition is important. Some states, such as Illinois, have sta...   Read more ...  

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Vacations with Kids Can Be Fun, but Divorced Clients Need Advice

  Published in the Tuesday May 14, 2019 edition of the Chicago Daily Law Bulletin   It is no secret: Ending a marriage is difficult.   Personally, one tool I employ is to tap into empathy and patience to help my clients deal with the problems they have in their divorces. This approach is often helpful when working out how to structure the good times — and summer vacations are certainly a good example.   Remember that this is probably also the first time your client must d...   Read more ...  

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Coping Through a Bitter Divorce

Between 40 and 50 percent of married partners in the U.S. end up in divorce. Unfortunately, not only is divorce a legal technicality, it’s also an emotional roller coaster. You may find your soon-to-be-ex is more difficult to work with than you thought. This is not uncommon and there are tools to make divorce as smooth as possible.   Put Your Feelings Aside An emotional state can diminish your capacity to think clearly, impair your judgment and make rational decision making difficult or i...   Read more ...  

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When a Parent is Granted Sole Decision-Making Responsibilities

Even though Illinois law changed in 2016 to no longer use the word “custody,” including the phrase “sole custody” and “joint custody,” Illinois courts still have the authority to grant one parent sole decision-making responsibilities, if necessary. If you intend to petition the court as the parent responsible for making the sole decisions with your child, in Illinois, the court will only choose this arrangement if it serves the best interest of your child. Sole legal custody is idea...   Read more ...  

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