“If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein.
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 marriage. Tax Implications of Transferring Property In Divorce Any transfer of property pursuant to
I am often called on by my fellow lawyers who practice immigration law to enter an order in the family law or domestic relations courts of Cook County. A family law lawyer can often be the only one to establish the “findings of fact” necessary to grant immigrants certain statuses which allow them remain in
Divorces are difficult wherever they are. An Illinois divorce with a child or with children is even more difficult. I often tell clients who have no children or have grown children, “your divorce is automatically 75% easier than the average divorce with a child.” Is It My Child? In Illinois, all children born to a
A married couple may be from a foreign country, have a foreign vacation property or have diversified their investment portfolio by buying foreign property. Property is still property no matter where it is located. The question is “What happens to foreign property in divorce?” A property’s location outside of the United States may impact how
In the old days, folks would just get married in a church, jump a broom, or just start living together. Before 1905, people in Illinois did not have run down to the county clerk to register their marriage. Our forefathers would just say, “Well, we’ve been together for a few years so I guess we’re
Inheritance money is rarely given to a couple together. Last wills and testaments almost always read “to my dear my son,” not “to my dear son-in-law.” So, when the deceased wishes that a property goes to a single person, that property should stay with the single person…even after a divorce. Illinois law preserves a deceased
For most divorcing couples the marital home is the most valuable asset they have. If that house was purchased while the couple was married, the house is a marital asset and therefore divisible in a divorce. Even if the house was purchased before the marriage, if the house was put into both couples’ names or
Child support in Illinois is calculated based on a complicated formula where both parents’ incomes are used to calculate the non-custodial parent’s obligation to the custodial parent. This amount of money is then ordered to be paid by the non-custodial parent to the custodial parent. This calculated child support is usually deducted from the obligor’s
When a marriage breaks apart, it’s a horrible and painful process. When adultery is the cause of the break up, the adultery makes the break up even harder. Beyond the mere hurt of being rejected for someone else, the betrayal and lack of trust after adultery makes everything about a divorce harder. It is one
A divorcing couple is inherently in a state of disagreement. When the parties have children, the disputes between the couple can bleed into the temporary parenting arrangement. Sometimes the dispute is so severe that the parents cannot even communicate in order to parent. In these cases, a parenting coordinator is appointed as part of the