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The ultimate goal of divorce in Chicago is to end the marriage and wrap up the legal implications of the marital relationship, so you can expect that fiscal issues will be at the forefront of the proceedings.   The Illinois Marriage and Dissolution of Marriage Act includes a section on three key financial considerations: alimony, child support, and property division. You might not have to address all of these matters but, when you do, they could impact your divorce case during the proceedin...   Read more ...  

Of all the tasks and activities involved with planning your perfect wedding, you may not focus on the one that only matters if things go south, creating a prenuptial agreement. Few couples want their nuptials to be preceded by signing a contract that anticipates divorce, but it may be wise to consider.   The Illinois Uniform Prenuptial Agreement Act allows soon-to-be spouses to hash out the details of property division and alimony, and there are numerous benefits for doing so. At the core o...   Read more ...  

Of all the divorce issues couples face during the proceedings, dealing with the family home can be one of the most contentious and emotionally charged. The value of the residence places it among the highest valued assets in a divorce, and it will be considered marital property in many cases. As a result, Illinois’ property division statute applies. By law, all marital assets are subject to equitable distribution between the parties, so the court will divide property according to the interests ...   Read more ...  

There are emotional and financial challenges involved with any divorce, but some parties will also need to incorporate strategies for tax matters when ending their marriage. Specifically, there can be taxable events and other tax-related issues that arise with the division of marital property. The different transactions and ownership changes that result from a dissolution of marriage may trigger the Internal Revenue Code section on capital gains and losses, particularly related to the marital ho...   Read more ...  

Parental Responsibilities in Illinois For many parents that are divorcing, the conclusion of the process marks the end of any legal obligations or rights they have stemming from the marital relationship. Post-divorce is very different for parents with minor children, who must continue to comply with the court’s order concerning their children’s care and support. Illinois’ statute on the allocation of parental responsibilities and parenting time presumes that both parents are fit to exercis...   Read more ...  

Next to alimony and care for minor children, property division is one of the primary issues that all couples will face when going through a divorce in Illinois. Illinois divorce laws provide that assets are subject to equitable distribution.   This generally means that items will be divided between the parties according to the interests of fairness. In some cases the process seems relatively clear-cut with respect to certain real and personal property, such as the family home, vehicles, and...   Read more ...