Alimony
Divorce is financially stressful. Two incomes used to support one household before the divorce. After the divorce, one income often supports two households. On top of those household expenses are the divorce attorneys’ fees. Often the only way to pay…
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Many people don’t wait for the divorce process to officially end before dating. The wisdom of dating during a divorce in Illinois is debatable. If you or your spouse are actively dating other people while unwinding your relationship through an…
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Maintenance (formerly known as alimony) is a funny thing in Illinois. If you aren’t awarded maintenance at the finalization of your Illinois divorce, you can never ask for it in the future. But, if you are receiving maintenance, sooner or…
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Earnest Hemingway was once asked, “How’d you go bankrupt?” Earnest replied, “Two ways, slowly and then all at once.” That’s a lot like how a divorce works. Years of resentment and planning becomes tactics and strategy once the divorce is…
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Whenever money is being transferred there is a possibility of taxes. Perhaps there is no bigger transfer than the transfer of assets and income during divorce. Therefore, taxes and divorce must be considered together when negotiating and finalizing a dissolution…
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Social Security and divorce have interesting effects on one another in Illinois. Social Security is the United States’ federal government’s system for making regular payments to people if they are disabled and/or elderly. People who are getting divorced and also…
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Divorce law in Illinois is largely written for couples with two working adults who may have children. Illinois divorce law doesn’t explicitly consider retirement and divorce. But, many principles can be derived from the statutes and case law so that…
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In Illinois there is a great deal of law as to what makes a marriage valid. 750 ILCS 200 et al. A marriage license must be applied for, a marriage must be solemnized and the marriage license must be recorded…
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Often, during the pendency of a divorce the couple find themselves supporting two households and trying to maintain the standard of living for both of the households while having just one income. In the absence of assets to live off,…
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Before the new tax law was passed by Congress and signed into law by the president on December 20, 2017, 26 U.S. Code Section 71(a) read “Gross income includes amounts received as alimony or separate maintenance payments” which mean that the…
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