630-584-5550
Recent Blog Posts
Am I Entitled to a Portion of My Spouse’s Retirement Accounts After Divorce?
If you are considering divorce, you may have considerable concerns about how the split will affect your finances. One issue that many divorcing couples have questions about is how retirement accounts are handled during divorce. Even if retirement is still several years away, it is important to ensure that you will have access to the funds you need when the time comes. Depending on the type of retirement account in question and the length of your marriage, it is possible that retirement funds will play a significant role in the division of marital assets during divorce.
Which Retirement Funds Are Considered Part of the Marital Estate?
Marital property includes assets that were acquired by either spouse during the marriage. Non-marital property includes assets that were acquired before the marriage. Retirement funds that accrued while you and your spouse were married are usually considered marital property while funds accumulated before the marriage are non-marital property. Therefore, it is possible that a portion of the retirement funds will be considered subject to division during divorce while another portion of the accounts are not subject to division. Accurately valuing and dividing pensions, IRAs, and 401(k)s, during divorce can be a complex task – especially if the retirement funds include stocks or other assets that may fluctuate in value. The tax consequences of retirement fund distribution is also a major factor to consider when deciding how to handle retirement accounts.
Tips for Divorcing Parents with a Disabled Child
When you are a parent, getting a divorce does not only affect you and your spouse, it can also have a dramatic impact on your child. If your child has an intellectual or physical disability, you may wonder how you can minimize your child’s stress during this difficult transition. You may have concerns about the emotional effects the divorce will have on your child as well as the logistical and financial issues you will need to address. Although there is no perfect way to handle divorce as a parent of a child with disabilities, there are several steps you can take that may lessen the strain experienced by the whole family.
Minimize the Contentiousness Between You and Your Spouse
Numerous studies have shown that children are very sensitive to parental tension and hostility. One of the best things you can do for your child is to make your divorce as cooperative and respectful as possible. Many parents find that family law mediation allows them to resolve divorce issues such as property division and parental responsibilities without going through a stressful and contentious court trial. During mediation, you and your spouse will meet with a skilled mediator who helps keep discussions focused on solutions rather than accusations, blame, or irrelevant subjects.
Which Spouse Is Responsible for Paying Credit Card Debt After an Illinois Divorce?
When “yours” and “mine” becomes “ours” in a marriage, undoing this financial entanglement through divorce can be quite complex. If you are planning to divorce and you or your spouse have significant credit card debt, you may be wondering who will be responsible for paying this debt. Depending on the circumstances under which credit card debt was accumulated and used, it is very possible that both spouses will be responsible for repayment.
Who Pays the Credit Card Balance?
Illinois courts divide marital property equitably but not necessarily evenly. Marital property refers to the assets and debt acquired during the marriage by either spouse. Save for certain inheritances and gifts, any property or debt obtained while the spouses are married is included in the marital estate. Property accumulated before the marriage is typically classified as nonmarital property and is assigned to the original owner. This means that typically, spouses are not jointly responsible for credit cards that were opened before the marriage and are in only one spouse’s name. However, spouses may be liable for credit card debts that were accumulated during the marriage – even if only one of the spouses made the credit card purchases. A spouse may not even become aware of credit card debt until he or she begins to examine financial documents in preparation for divorce. This is one reason that taking a full inventory of your property and debts during divorce is so crucial.
Understanding the Value of Signing a Prenup Before Your Illinois Marriage
Prenuptial agreements are often misunderstood. Some people mistakenly assume that a prenuptial agreement is only for the extremely wealthy or for individuals who plan to get divorced. In actuality, prenuptial agreements, or “prenups” for short, are valuable legal tools that benefit both parties in a marriage. Read on to learn about the many ways that a prenuptial agreement can benefit you and your soon-to-be spouse.
Establishing Each Spouse’s Property Rights and Responsibilities
The main purpose of a prenuptial agreement is to decide in advance how the couple wishes to divide debts and assets should they later decide to divorce. While this may not be a very romantic possibility to consider, it is an important step to take. Keep in mind that creating a prenuptial agreement does not mean that you and your spouse intend to get divorced. However, current research shows that just over 40 percent of marriages end in divorce. Preparing for this possibility simply means that you and your partner understand that there is a chance that the marriage will not work out. Signing a prenuptial agreement is crucial if:
How Can a Temporary Relief Order Benefit My Family Before My Divorce Is Finalized?
If you are a parent who is considering divorce, you may have concerns about how financial issues and child custody concerns will be handled between the initial split and the conclusion of the divorce. Divorce cases, especially high asset divorces and those involving a high degree of conflict, can take several months or several years to resolve. You may be asking yourself, “How will I make ends meet without my spouse’s income during the divorce process?” or “How will parenting time and parental responsibilities be divided before the divorce is finalized?” One way to answer these questions is to petition the court for temporary relief orders.
Temporary Arrangements for Child Custody, Child Support, and Spousal Maintenance
A petition for temporary relief asks the court to issue temporary court orders regarding certain financial and child-related issues. You can ask for a temporary relief order at any time throughout the divorce process. The temporary relief may address issues related to:
How Can I Protect My Right to Receive Child Support If I Am an Unmarried Mother?
The USDA estimates that it costs over $230,000 to raise a child from birth until age 18. If you are expecting a child and you are not married to the child’s father, you may have concerns about how you will pay for child-related expenses like housing and child care. Child support is a valuable source of financial assistance that parents are entitled to by law. If you are an unmarried mother, it is essential that you take the steps to ensure that you and your child will have the financial resources you need.
How Can I Get Child Support in Illinois?
In Illinois, the terms “child custody” and “visitation” have been replaced by the terms “parental responsibilities” and “parenting time.” Parenting time refers to the days that a parent is responsible for caring for his or her child. The parent with the majority of the parenting time, formerly called the custodial parent, is the recipient of child support and the parent with less parenting time is the payor. If your child’s father and you agree that you should have the majority of the parenting time, you will create a parenting plan stating this agreement and describing other child-related arrangements. This plan is submitted to the court. You will then be able to petition the court for child support. The amount of child support that you will receive will largely depend on the difference between your income and the father’s income.
What Should I Know About Divorcing an Abusive Spouse in Illinois?
Domestic violence affects millions of men and women across the country and throughout Illinois. Leaving an abusive partner takes a great deal of courage, but many former victims feel that leaving their abuser was the best decision they ever made. If you are planning to leave your abusive spouse, you may feel uncertain and afraid. You may not know what your rights are under Illinois law or how you can protect yourself during the divorce process. Read on to learn about some of the steps you can take to protect yourself, your children, your property, and your future when divorcing someone who has abused you.
Protecting Yourself and Your Loved Ones From Further Abuse
Abusers often use physical violence and psychological manipulation to keep their victims under their control. When an abusive person learns that his or her spouse plans to file for divorce, his or her threatening and abusive behavior may escalate in an effort to maintain this control. An Emergency Order of Protection (EOP) is like a restraining order. It prohibits the abuser from coming within a certain distance from you, your children, your pets, your home, or your workplace. It can even force the abuser to move out of your shared home and require him or her to surrender any firearms. If the abuser violates any terms of the protection order, you can call the police and have him or her arrested. You can obtain an EOP based on your testimony alone and without your abuser’s knowledge. Getting a protection order is a crucial step in protecting yourself from further abuse and establishing an official record of your spouse’s abusive behavior.
What Is Involved in Foster Parenting a Child?
There are a number of reasons that a child may be placed in the Illinois foster care system. Some children are orphaned after their biological parents pass away. Other times, a child enters the foster care system because his or her parents lost their parental rights due to abandonment, abuse, or neglect. Choosing to foster parent a child gives him or her the loving home he or she deserves. However, it is also a tremendous responsibility. If you are interested in foster parenting a child or you want to adopt your current foster child, make sure you educate yourself about the person and legal implications involved.
Foster Parenting Versus Adoption
Being a foster parent and adopting a child are two totally different legal processes. When a child is adopted, his or her adoptive parents become the child’s legal parents and take on all of the rights and responsibilities associated with parentage. Adoption is also permanent. When you foster a child, you do not receive the same rights as an adoptive parent would receive. Depending on the situation, the child’s biological parents may still have involvement and decision-making authority in the child’s life. A foster child placed in your care may only stay with you for a certain length of time before he or she is returned to his or her parents or adopted by another family. Sometimes, foster parents are able to formally adopt their foster child and make him or her a permanent member of their family.
What Should I Know About Divorce Involving Children in Illinois?
If you are a parent who is considering divorce, you are probably concerned about how divorce will affect your children. You may also be unsure of what steps you will need to take to establish child support or arrange a co-parenting schedule. Divorce involving children can often be complicated and emotionally-charged. Fortunately, you do not have to face the divorce process alone. A family law attorney can be a valuable resource during this challenging time in your life.
Creating a Parenting Plan
Divorcing parents in Illinois are asked to create a parenting plan or parenting agreement. In the plan, you will describe how you and your child’s other parent will handle child-related responsibilities. The parenting plan must include:
- A parenting time (visitation) schedule or method for determining a parenting time schedule
- Transportation arrangements for the child
What Is a Divorce Deposition and How Can I Prepare for it?
For many divorcing individuals, their divorce case is the first time they are involved in an extensive legal proceeding. If you are getting divorced, you may have numerous questions about what you should expect. During the “discovery” step of the divorce process, the spouses’ attorneys gather information and documentation from the spouses. This information is used when negotiating divorce issues such as property division, spousal maintenance, and child custody. If your divorce case goes to trial, the information gathered during discovery becomes valuable evidence that will be used to argue your case during litigation. Depositions are one way that information is gathered during discovery.
What Happens During a Deposition?
A deposition is a formal question and answers session that takes place outside of the courtroom. The individuals present at a deposition typically include the spouses, their respective attorneys, and other professionals relevant to the case such as a Guardian Ad Litem. If you attend a divorce deposition, you will be placed under oath and then asked a series of questions aimed at gathering information about the facts of your divorce case. A court reporter will record all of the questions and answers. It is important to answer the questions carefully and truthfully. Anything you say during a deposition may be later used against you.
630-584-5550