Russell Knight
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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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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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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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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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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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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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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“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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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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A house is a peculiar asset in an Illinois divorce. A house is usually the biggest asset and the biggest debt that two married people share. Moreover, a house’s mortgage is usually the biggest monthly expense the parties share. Furthermore,…
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