Marital Property

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What Is An Equitable Division Of Assets In An Illinois Divorce?

By Russell Knight | September 4, 2020
Equitable Distribution Of Assets In Illinois Divorce

The point of a divorce is to unwind a couple’s affairs while establishing and memorializing the remaining obligations between the two parties. The “unwind” part is simply the division of the party’s marital assets. The “ongoing obligations” is virtually everything…

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Can I Be Sued For Something My Husband Or Wife Did In Illinois?

By Russell Knight | August 20, 2020
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Getting sued because of your spouse in Illinois

There’s an old saying: “lucky in life, unlucky in love” which refers to the phenomenon of reasonable, successful people who fall in love with people who are constantly prone to poor decisions. Maybe this odd couple dynamic is what keeps…

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Timeshares And Divorce In Illinois

By Russell Knight | July 5, 2020
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Illinois divorce and timeshares

Divorce is about unwinding two people’s professional and personal relationship. Each party to the divorce keeps certain assets and is assigned responsibility for certain debts. But some things are either both an asset and a debt or kind of neither,…

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What Is A QDRO In An Illinois Divorce?

By Russell Knight | June 27, 2020
QDROs and divorce in Illinois

Lawyers love to use acronyms and buzzwords to shorten long phrases like “Qualified Domestic Relations Order” which is commonly referred to as a “QDRO.” So, what is a QDRO, exactly, in an Illinois divorce? QDROs are court orders that allow…

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Stock Options And Divorce In Illinois

By Russell Knight | June 16, 2020
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Divorce And Stock Options In Illinois

The term “stock options” has a certain mystique. Stock options seem like sophisticated financial instrument for the rich and about-to-be-rich…and they kind of are.  The problem with sophisticated financial instruments like stock options, is that they are hard to divide…

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Dating During Divorce In Illinois

By Russell Knight | June 13, 2020
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Illinois Divorce And Dating

Many people don’t wait for the divorce process to officially end before dating.  The wisdom of dating during a divorce in Illinois is debatable.  If you or your spouse are actively dating other people while unwinding your relationship through an…

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Airline Miles And Divorce In Illinois

By Russell Knight | June 7, 2020
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frequent flyer miles and divorce in Illinois

In an Illinois divorce every object or conceptual thing the couple owns, either together or apart, can be divided. Physical objects like paintings, animals, cars, houses, and photo albums can all be allocated in an Illinois divorce. Non-physical items such…

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Is It Better To Be Legally Separated Or Divorced In Illinois?

By Russell Knight | May 20, 2020
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Should you separate or divorce in Illinois?

When you are considering leaving your spouse in Illinois, you have options.  You can get a divorce or you can get a legal separation from your spouse in Illinois.  Is it better to be legally separated or divorced in Illinois?…

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Student Loans and Divorce In Illinois

By Russell Knight | May 13, 2020
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student loan debt and Illinois divorce

Everyone knows that you split the assets in a divorce but people rarely consider that you also have to split up the debts.  Usually debts are associated with an asset like a house and a car so whoever keeps the…

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Buying A House During A Divorce In Illinois

By Russell Knight | April 21, 2020
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Buying A House During A Chicago Divorce

Divorce takes a long time but life still goes on.  People get separated and want to start their new lives without their spouses.  This always means moving out but to where?  An apartment?  A rental house in the same school…

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