by Russell Knight | Apr 3, 2020 | Child Support, Divorce, Family Law, Illinois Law, Maintenance, Marital Property, Non-Marital Property
Money is a funny thing in an Illinois divorce. In a divorce money is an asset which can be divisible or not based on whether it is marital. In a divorce money is also evidence of income which can determine child support and maintenance (formerly known as alimony). ...
by Russell D. Knight | Mar 15, 2019 | Divorce, Family Law, Illinois Law
For most divorcing couples the marital home is the most valuable asset they have. If that house was purchased while the couple was married, the house is a marital asset and therefore divisible in a divorce. Even if the house was purchased before the marriage, if the...
by Russell D. Knight | Nov 17, 2018 | Divorce, Property Division
Owning a house is a big deal, financially. So, what happens to your house during a divorce in Chicago, Illinois? Most people’s biggest asset is their house. But, the marital home is typically held by two people as a couple together because, as a couple, they were...
by Russell D. Knight | Mar 10, 2017 | Family Law 5 Parts
One of the key functions of a divorce is the division of property acquired during the course of a marriage. Illinois is an ‘equitable division’ state, meaning the courts are inclined to divide all marital property equitably. This can be either 50/50, 60/40, or another...
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