by Russell D. Knight | May 4, 2019 | Alimony, Divorce, Family Law, Illinois Law, Maintenance
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 of...
by Russell D. Knight | Oct 3, 2018 | Alimony, Child Support, Divorce, Maintenance, Property Division
Social Security and divorce have interesting effects on one another. 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 receiving a...
by Russell D. Knight | May 19, 2018 | Alimony, Divorce, Family Law, Maintenance
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 your...
by Russell D. Knight | Jan 3, 2018 | Alimony, Divorce, Family Law, Illinois Law, Maintenance, Property Division
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 appropriately. It is exceptionally rare for a marriage...
by Russell D. Knight | Dec 30, 2017 | Alimony, Child Support, Divorce, Family Law, Maintenance
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, typically, this means the...
by Russell D. Knight | Dec 28, 2017 | Alimony, Divorce, Maintenance
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 alimony or spousal...
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