Property Division

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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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Who Gets The House After An Illinois Divorce?

By Russell Knight | November 8, 2020
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Marital House Illinois

A house is a peculiar asset in an Illinois divorce. A house is usually the biggest asset and the biggest debt that two married people share. Moreover, a house’s mortgage is usually the biggest monthly expense the parties share. Furthermore,…

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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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Who Pays The Mortgage During An Illinois Divorce?

By Russell Knight | October 20, 2020
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Mortgage During Illinois Divorce

Mortgages typically consume 25 to 33 percent of a household’s total income. A mortgage is usually a household’s biggest expense. Additionally, mortgages are usually tied to a household’s biggest asset, the marital home. Failure to pay a mortgage means a…

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What Is a Marital Settlement Agreement In An Illinois Divorce?

By Russell Knight | August 27, 2020
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MSA in Illinois Divorce

It’s often said that 99% of divorces end up settling rather than go to trial. But what does that mean? What is the result of a divorce settlement in Illinois? The end result of divorce in Illinois is a series…

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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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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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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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Plastic Surgery and Divorce in Illinois

By Russell Knight | May 29, 2020
Divorce and Plastic Surgery

A divorce in Illinois can be a cause for a lot of changes.  It’s not surprising to see my divorce clients undergo physical changes.  My male clients will often see their hair go grey under the stress.  All of my…

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How Can I Protect My Credit Score During My Illinois Divorce?

By Russell Knight | May 18, 2020
Credit Score and divorce in Illinois

Divorce is a tumultuous time. Your family is no longer the same. Your finances are completely reshuffled causing you to turn to credit cards and other debt. Debt can become a lifeline during a divorce’s uncertainty. Therefore it’s natural to…

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