Non-Marital Property

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Transmutation of Assets In An Illinois Divorce

By Russell Knight | November 21, 2020
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Mixing Money In An Illinois Divorce

When people get married, they join their lives…at least on an ongoing basis. There are still items from their past that will always remain with them. Whether it is a keepsake or an entire house, what you bring into a…

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Rental Property In An Illinois Divorce

By Russell Knight | November 1, 2020
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Rental Property and divorce in Illinois

Diversification is the investment strategy whereby holding a variety of assets creates a greater long-term return because the variety reduces risk. In addition to thousands of tradable stocks and bonds, the average investor may also own real estate. The advantage…

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Railroad Pensions And Divorce In Illinois

By Russell Knight | October 25, 2020
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Railroad Pensions In Illinois

In the United States there are thirteen different unions that represent railroad workers with a total of over 140,000 members. These railroad workers do not pay social security taxes. Instead, they pay taxes to a separate fund administered by the…

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Tracing and Commingling Assets In An Illinois Divorce

By Russell Knight | October 24, 2020
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Tracing assets in an Illinois divorce

Almost all states allow property brought into the marriage to remain non-marital. Thus, divorce law allows the person who brought the property into the marriage to take that property out at the end of the divorce. Illinois is no exception. …

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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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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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Guns, Firearms and Divorce in Illinois

By Russell Knight | April 17, 2020
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Divorce and Guns in Illinois

In America you have the right to own a gun…under certain conditions based on local, state and federal law.  Once you get divorce, or start to get divorced, the conditions of your gun ownership have an additional layer…the clauses of…

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Credit Card Debt And Divorce In Illinois

By Russell Knight | April 11, 2020
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Credit Card Debt and Divorce in Illinois

There are many kinds of debt that people can hold when they are going through a divorce: home mortgages, auto loans but the most common is credit card debt.  Credit card debt can be in one spouse’s name or both…

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