Russell Knight

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Russell D. Knight has been practicing family law as a Chicago divorce lawyer since 2006. Russell D. Knight amicably resolves tough cases while remaining a strong advocate for his client’s interests.

Are Divorce Settlement Negotiations Confidential In Illinois?

By Russell Knight | December 3, 2020
secret settlement offer

In the process of an Illinois divorce, the parties will often make settlement offers to resolve some or all of the issues in their divorce. An offer isn’t a deal until the offer is accepted by both parties to the…

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Household and Personal Items In An Illinois Divorce

By Russell Knight | November 28, 2020
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Personal items in an Illinois divorce

When faced with divorce there are lots of big financial questions like “who gets the house” and “how much alimony will I get?” In addition to the big issues, there is the entire lifetime of items that a couple will…

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Deferred Compensation Plans And Divorce In Illinois

By Russell Knight | November 27, 2020
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Illinois Divorce And Deferred Compensation

There are so many ways to save for retirement that it feels like you have to be a financial expert to understand the various retirement accounts available and their respective tax advantages. In reality, most retirement plans in the United…

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Royalties And Divorce In Illinois

By Russell Knight | November 26, 2020
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Divorce and royalty income in Illinois

Getting paid for working is nice. But getting paid over and over again for work that’s already been done is even better. The problem with a lot of work is that the creator and their investors/distributors have no idea what…

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Transmutation of Assets In An Illinois Divorce

By Russell Knight | November 21, 2020
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Mixing Money In An Illinois Divorce

When people get married, they join their lives…at least on an ongoing basis. There are still items from their past that will always remain with them. Whether it is a keepsake or an entire house, what you bring into a…

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Body Attachments In An Illinois Divorce Court

By Russell Knight | November 19, 2020
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divorce arrest illinois

Divorce law is funny in Illinois. We say “dissolution of marriage” instead of “divorce,” we say “maintenance” instead of “alimony,” and we say “body attachment” instead of “an order for arrest.” A body attachment is a big deal! A body…

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Parallel Parenting In An Illinois Divorce

By Russell Knight | November 19, 2020
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Parallel Parenting Illinois

Divorce is difficult. Divorce is even more difficult when the parties to divorce have children. In theory, parents should be able to look past the issue of their divorce in order to remain partners in parenting. For lots of parents,…

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Are Divorce Lawyers’ Fees Tax Deductible?

By Russell Knight | November 15, 2020
Divorce lawyer tax deductible

A tax deduction is an allowance whereby the IRS allows you to reduce your total taxable income by a certain amount because of some event. By allowing tax deductions, the United States tax code is encouraging certain behavior by removing…

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Interest and Dividend Income In An Illinois Divorce

By Russell Knight | November 14, 2020
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Assets and Income Illinois Divorce

“If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffett.  Lots of people have followed Warren Buffet’s advice by saving and investing so their money can earn them an independent income one day. These investments generate…

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How To Read A W-2 In An Illinois Divorce

By Russell Knight | November 13, 2020
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W2 divorce

In almost every Illinois divorce financial documents will be exchanged between the parties. This exchange always includes the parties’ taxes, which may have been filed together. The tax return usually tells 90% of a divorcing party’s financial story in regards…

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