Can A Spouse Throw Out My Belongings In Illinois?

By Russell Knight | January 7, 2022
| |
Throw away valuables in a divorce

We’ve all seen the trope in movies on TV where an angry wife throws her husband’s things out the bedroom window onto the front lawn. Some movies take it even further and a spouse will burn the other spouse’s things…

Read More

Degrees And Licenses In An Illinois Divorce

By Russell Knight | January 1, 2022
| | |
Degrees and licenses in an Illinois divorce

Having a professional degree and license is often very lucrative (take it from me). A degree makes a degree eligible for certain professional positions and a license makes a license holder an exclusive provider of some regulated service. These restrictions…

Read More

Loans From Parents During An Illinois Divorce

By Russell Knight | December 19, 2021
| | |
Loan from parents during divorce

Divorce is difficult and it is important to have the support of family. When a couple gets divorced it is very common for their parents to be supportive financially as well as emotionally. The nature of this support is often…

Read More

Cashing Out 401(k)s And Other Retirement Accounts During An Illinois Divorce

By Russell Knight | December 15, 2021
|
Withdrawal of 401(k) during divorce

Divorce attorney see their clients and their client’s spouse’s true finances. The truth is that most people have little in the way of assets outside of their marital home and their retirement accounts. When a divorcing couple’s assets are tied…

Read More

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

By Russell Knight | September 18, 2021
| |
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…

Read More

1031 Exchanges And Divorce In Illinois

By Russell Knight | August 28, 2021
|
Capital Gains And Taxes in An Illinois Divorce

When a couple owns real estate together and gets divorced one of three things will happen to that house. One party will keep the real estate and the other party will receive other marital assets have an equivalent value of…

Read More

Rollover IRAs and Divorce In Illinois

By Russell Knight | June 20, 2021
|
rollover 401k divorce

401(k)s and other retirement accounts get divided in a divorce based on the contributions made to those accounts during the marriage. When those accounts get consolidated into a rollover IRA, the mathematics required to accurately divide the retirement account becomes…

Read More

What is NOT Modifiable in an Illinois Divorce

By Russell Knight | April 24, 2021
| | | |
Res Judicata Illinois Divorce

Divorce cases are about finally terminating a long-dying relationship and finally unwinding the the married parties’ joint affairs. Eventually, a final hearing is performed which awards all assets to each party, determines maintenance and child support and allocates parenting time…

Read More

How To Disinherit Your Spouse In Illinois

By Russell Knight | March 1, 2021
| |
Disinherited Spouse

When you’re getting married you hear the words “’Til Death Do Us Part.” When you contemplate divorce, you don’t want your current spouse to have anything after you die. So, how do you disinherit a spouse in Illinois? A Divorce…

Read More

Trust Funds For Children And Divorce In Illinois

By Russell Knight | February 28, 2021
| | |
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…

Read More