Degrees And Licenses In An Illinois Divorce

By Russell Knight | January 1, 2022
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Degrees and licenses in an Illinois divorce

Having a professional degree and license is often very lucrative (take it from me). A degree makes a degree eligible for certain professional positions and a license makes a license holder an exclusive provider of some regulated service. These restrictions…

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How To Read A Cash Flow Statement In An Illinois Divorce

By Russell Knight | October 31, 2021
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Cash Flow Statement And Divorce

If you or your spouse own a business or part of a business, that business must be determined to be marital or non-marital for the purposes of division of assets in your Illinois divorce. If the business was started, acquired,…

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The Duty To Seek Employment After An Illinois Divorce

By Russell Knight | June 5, 2021
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Seek employment after divorce

After a maintenance award is made in an Illinois divorce, there will be some language that will specify the amount and duration of maintenance. The amount and duration of maintenance is “designed to allow the recipient spouse to maintain the…

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Retirement And Maintenance In An Illinois Divorce

By Russell Knight | May 9, 2021
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Alimony and Retirement In An Illinois Divorce

Maintenance, formerly known as “alimony” in Illinois, is a way to further insure an equitable division of finances between two spouses who have unequal incomes. One spouse has relied on the other spouse for regular financial support, the Illinois legislature…

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A New Spouse’s Income After An Illinois Divorce

By Russell Knight | March 7, 2021
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Remarriage and Child Support

At the moment an Illinois divorce is registered, the final court documents capture a moment in time. A moment where both parties are unmarried…but they won’t be for long. People who get divorced usually get married again. A remarriage means…

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Standard Of Living And Maintenance In An Illinois Divorce

By Russell Knight | January 16, 2021
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Standard of Living Enjoyed During The Marriage

Most of people’s understanding of divorce comes from television and movies…which are made in California. Therefore, we often parrot back Californian law that has little to no impact in states such as Illinois. One Californian legal concept is that the…

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What is Non-Modifiable Maintenance In An Illinois Divorce?

By Russell Knight | December 8, 2020
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Non-modifiable alimony in Illinois

Maintenance (formerly known as alimony) is the manner in which Illinois divorce courts assure both parties to a divorce that they will be able to maintain their lifestyles post-divorce until they are able to “get back on their feet.” Illinois…

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Maintenance Modifications And Taxes After An Illinois Divorce

By Russell Knight | December 5, 2020
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Taxes and Alimony in Illinois

Before 2019, maintenance (formerly known as alimony) worked much differently in Illinois. Over time, laws change and people’s circumstances change. Maintenance almost always gets modified in the future due to an economic setback for the payor, an economic boost for…

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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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