Marital Property

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Tenants In Common, Joint Tenants, and Tenants In The Entirety In An Illinois Divorce

By Russell Knight | June 7, 2022
Tenancy By The Entirety In Illinois

Being married means starting a life together. For most people, that means owning property together in furtherance of building a home and a family. That real estate can be held in a variety of ways based on how the deed…

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Trust Funds For Children And Divorce In Illinois

By Russell Knight | June 3, 2022
Trust Funds and Divorce

Trust funds are way to set aside money for a specific purpose. Trusts are especially useful for applying money for the benefit of someone who cannot manage the money themselves such as a child. A trust is “an equitable or…

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Cash In An Illinois Divorce

By Russell Knight | May 3, 2022
How to prove cash in an Illinois divorce

Cash money has a strange effect on people. Cash seems more real because you can touch and see the money. Cash is not just digital numbers on a spreadsheet somewhere. Cash can be instantly transferred or received. If no one…

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How To Hide Assets In An Illinois Divorce

By Russell Knight | April 23, 2022
Secret assets in an Illinois divorce

Has anyone really been surprised that they got a divorce? I don’t think so. Instead, couples facing divorce plan for months or years for their divorce. They organize their schedule around the kids. They build up an emergency divorce fund.…

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When To Separate Bank Accounts In An Illinois Divorce

By Russell Knight | April 22, 2022
Withdrawing money from a bank during an Illinois divorce

When you know you are getting divorced, you don’t need to wait for a court to order a division of assets to start dividing items. Couples usually each claim the car they were driving, their clothes and even pets well…

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What Is A Wife Entitled To In An Illinois Divorce?

By Russell Knight | April 19, 2022
What is a spouse entitled to in an Illinois divorce?

In the panic of considering a divorce in Illinois, both parties will be quick to consider the “worst case scenario” and research what they are each entitled to. Inevitably, the parties to a potential divorce specifically want to know what…

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Debt And Divorce In Illinois

By Russell Knight | April 14, 2022
Illinois Divorce with Debt

While a divorce is usually about who gets what asset, most people have a mix of assets and debts. A married couple’s debts are also divided in an Illinois divorce. Illinois divorce courts “shall divide the marital property without regard to marital misconduct…

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Bitcoin, Cryptocurrencies And Divorce

By Russell Knight | April 8, 2022
cryptocurrency and division of assets

***Updated in March 2021 to reflect the massive interest in cryptocurrencies*** Millions of people have purchased Bitcoin and other cryptocurrencies. Millions of people have also gotten divorced. Therefore, several Bitcoin owners got divorced and had to address the division of…

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Inflation And Divorce In Illinois

By Russell Knight | April 2, 2022
Inflation and divorce in Illinois

When I was a child in the early 80s, I remember adults discussing inflation and its effects. Then, the issue of inflation disappeared for 40 years. Now, inflation is back and it is impacting all of our assets, incomes and…

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Refinancing A Mortgage In An Illinois Divorce

By Russell Knight | March 20, 2022
Refinancing A Home After An Illinois Divorce

When you marry someone, you make a promise to them that will last years and years. When you take out a mortgage, you also make a promise that will last years and years. Extracting yourself from the obligations of a…

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