“If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein.
Illinois divorce courts do not split a divorcing couples’ assets 50/50 to each party. Illinois divorce courts do not split up a couple’s non-marital assets at all. “[An Illinois divorce] court shall assign each spouse’s non-marital property to that spouse.” 750 ILCS 5/503(d) Any assets deemed marital are then divided based on what the court
After a divorce is final, the parties are bound to the terms of the final orders. If one party fails to honor the order, the other party may file a motion to enforce the order as written. “A judgment of dissolution or of legal separation or of declaration of invalidity of marriage may be enforced…by
The term “hedge fund” implies an elite financial institution. In reality, there are more hedge funds than there are Burger Kings. A hedge fund is “a specialized investment group usually organized as a limited partnership.” Black’s Law Dictionary (11th ed. 2019) The operators of hedge funds claim to be able to see into the future with
Even the best Marital Settlement Agreement will leave a divorced spouse wondering “was there something missing?” To temper that doubt, good divorce attorneys put a “finders keepers clause” in their Marital Settlement Agreements. A finders keepers clause specifies how hidden assets will be divided if the hidden assets are eventually found. Why Does A Marital
The people that know you best are also the people that can hurt you the most. While abusive behavior between divorced parties is common, divorced people can do things even more insidious and sinister to harm their ex-spouses: they can mess with their job, money or other means of maintaining themselves When someone does something
Whether it is McDonald’s, Jiffy Lubes or Verizon stores, Americans love a trusted brand. All of us enjoy the promise of consistent quality a branded business provides…even if we have never used that particular location before. Small business people become franchisees of these brands to happily enjoy the goodwill of the brands. The use of
People from Illinois love to move to Florida. People who get divorced love to get a fresh start in Florida. These new Florida residents might have some obligations back in Illinois due to their Illinois divorce. How do you enforce an Illinois divorce judgment when the other party is now in Florida? How do you
They say you should marry someone who you share common interests with. Those interests may be religion, sports, theater or just sex. Unfortunately, you cannot take any of these interests home and put them on the wall to show your friends. Art is one interest that you can enjoy, you can buy…and you can even
When someone gets married and then starts a business, their spouse truly believed in both them and the business. A spouse may even believe in them and the business after the divorce. A divorced spouse may even choose to be a silent partner in the business after the divorce. If the business continues to expand,
Most people have two big assets: their home and their retirement savings. The retirement savings are usually kept in a tax-deferred account like a 401(k). 401(k)s are a great tool for savers. 401(k)s are automatically funded from employees paychecks. Employers can also match 401(k) savings. 401(k) funds are not taxed until they funds are withdrawn