Posts By: MICHAEL C CRAVEN

Tactics to Effectively Manage Your Marital Finances

No one heads into a marriage preparing for a divorce. However, a significant number of marriages end in divorce and no small amount of them because of money. Being conscious of you and your spouse’s finances can not only help you avoid marriage troubles, it can also help both of you handle the financial repercussions of divorce, if that is where the road leads you. Marital Money Tips If you are getting married, newly married or you and your spouse are contemplating a divorce due to money iss...   Read more ...  

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How Are Legal Settlements Treated in Divorce?

A $20 million wrongful conviction settlement received by Juan Rivera in 2015 raised a significant question for Illinois divorce courts: Was this settlement part of marital property? Rivera was convicted in 1992 of the rape and murder of a child in Illinois. During his imprisonment, Rivera met a woman and married in 2000. He was later cleared by DNA evidence and a court vacated his conviction in 2011, which led to Rivera suing various parties based on wrongful conviction. Had Rivera and his wife ...   Read more ...  

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Do You Fear for Your Safety and Want a Divorce?

  Do you want out of your marriage but are too afraid to bring up divorce? You may feel stuck in your relationship if you have previously been the victim of violent behavior or you are worried that asking for a divorce will lead to abuse. You might feel like you will never be able to leave. However, you do have options. In addition to pursuing criminal charges, you can use civil orders of protection to gain distance and safety during and after a divorce. Warning Signs of Domestic Abuse &nbs...   Read more ...  

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Does My Spousal Support Duty End When I Retire?

Along with the freedom of retirement comes a number of financial questions: What is my new monthly budget? How much will I receive in Social Security? Should I make changes to my lifestyle? You may also wonder if you are still required to pay maintenance to your ex-spouse. The usual answer is yes. While alimony can end for a number of reasons, your retirement does not automatically terminate your duty to pay spousal support. However, if your retirement dramatically changes your financial circums...   Read more ...  

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Illinois Now Requires Cosmetologists Receive Domestic Violence Support Training

As of January 1st, all cosmetologists in Illinois must receive domestic violence support training. This combination may seem odd, but to those familiar with the atmosphere within salons and the relationships formed between hairdressers and clients, the connection is clear. Many women go to the same stylists for years, forming friendships. Getting a manicure or touching up their highlights is also an opportunity to catch up and in some cases, confide in someone about trouble at home. Cosmetologis...   Read more ...  

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Who is Responsible for Your Child’s College Expenses?

Raising a child is expensive. From diapers in the beginning to sports gear in high school, the bills never really go away. The latest data suggests raising a child who is born in 2013 into a middle-income family will cost more than $245,000 between birth and the child’s 18th birthday, The Wall Street Journal reported. However, this data does not take college into consideration. For divorced or non-married parents, your child may be eager to go to college, which raises some questions. Do you ha...   Read more ...  

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