by Russell Knight | Apr 3, 2020 | Child Support, Divorce, Family Law, Illinois Law, Maintenance, Marital Property, Non-Marital Property
Money is a funny thing in an Illinois divorce. In a divorce money is an asset which can be divisible or not based on whether it is marital. In a divorce money is also evidence of income which can determine child support and maintenance (formerly known as alimony). ...
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 23, 2018 | Child Support, Divorce, Family Law, Maintenance
Divorces can take years and there is always the possibility that a party in a divorce case may die during the divorce. This means the divorce will not be finalized and then the marital estate remains unsettled and undistributed. What happens when a husband or wife...
by Russell D. Knight | Oct 21, 2018 | Child Support, Divorce, Maintenance
Life insurance is an insurance against a person’s life in that it pays out money upon the death of the person. People typically purchase life insurance to support their family if, God forbid, they are no longer able to support their family due to death. What happens...
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 | Sep 29, 2018 | Divorce, Illinois Law, Maintenance, Property Division
When two people get divorced in Illinois, they follow the procedures of the Illinois Marriage And Dissolution of Marriage Act to determine what will happen to their assets and incomes upon entering the final judgment of dissolution of marriage. In lieu of following...
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