Marital Property

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Gifts To Children During An Illinois Divorce

By Russell Knight | August 6, 2022
Children getting gifts in an Illinois divorce

A divorce with children often provokes selfless feelings by the parents. “So long as the kids are okay,” can quickly turn into, “So long as the kids get everything.” Parents can find themselves transferring marital assets to children to either…

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Mortgage Assumption In An Illinois Divorce

By Russell Knight | July 26, 2022
Assuming a mortgage after an Illinois divorce

For forty years it was simple to get your spouse off your mortgage so you could keep the marital home after an Illinois divorce. The spouse that kept the marital house would refinance the mortgage. Some of the debt would…

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Trusts And Marital Assets In An Illinois Divorce

By Russell Knight | July 24, 2022
Trust Accounts And Marital Assets In Illinois

I recently saw an advertisement on Facebook that said “Protect your assets in a divorce with a trust.” Hmm. I’m a divorce lawyer who is obsessed with divorce law and strategy. Why had I not heard that a pending divorce…

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What Assets Cannot Be Split In An Illinois Divorce?

By Russell Knight | July 16, 2022
Non-divisible assets in an Illinois divorce

Most people know quite a bit about divorce law before they ever even have to consider divorce: kids get a schedule with each parent, one spouse may pay the other spouse support and assets get divided. Below each of those…

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Can An Ex-Spouse Claim Property After An Illinois Divorce?

By Russell Knight | July 4, 2022
Claiming property post-divorce

Divorces finalize the terms of a relationship…except divorces never seem to be truly final. People are always going back to court to resolve a remaining disagreement. While parenting time, child support, college expenses for children, and maintenance (formerly known as…

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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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