division of marital assets

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Refinancing A Mortgage In An Illinois Divorce

By Russell Knight | March 20, 2022
Refinancing A Home After An Illinois Divorce

When you marry someone, you make a promise to them that will last years and years. When you take out a mortgage, you also make a promise that will last years and years. Extracting yourself from the obligations of a…

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How To Turn A Non-Marital Property Into A Marital Property In An Illinois Divorce

By Russell Knight | February 6, 2022
Turning Non-marital property into marital property in an Illinois divorce

One of the most common scenarios in an Illinois divorce is finding that one spouse has non-marital property from before the marriage. The allegedly non-marital property is usually a house that both people live in, pay for, and keep repaired…

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Degrees And Licenses In An Illinois Divorce

By Russell Knight | January 1, 2022
Degrees and licenses in an Illinois divorce

Having a professional degree and license is often very lucrative (take it from me). A degree makes a person eligible for certain professional positions and a license makes a license holder an exclusive provider of some regulated service. These restrictions…

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On What Date Do You Value Marital Assets In An Illinois Divorce?

By Russell Knight | August 17, 2021
Date of valuation in an Illinois divorce

Assets get divided in a divorce. The value of assets are proven by printing off bank statements, brokerage account statements, appraisals, etc. Most of these assets are constantly fluctuating based on recent contributions, withdrawals and fluctuations in price. At what…

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What Happens To A Tax Refund In An Illinois Divorce?

By Russell Knight | February 7, 2021
Tax Refund

Tax refunds can be afterthought in an Illinois divorce. Maintenance, child support and the division of assets and debts will dwarf the money the at the U.S. government owes one or both parties to an Illinois divorce. Still, money is…

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Deferred Compensation Plans And Divorce In Illinois

By Russell Knight | November 27, 2020
Illinois Divorce And Deferred Compensation

There are so many ways to save for retirement that it feels like you have to be a financial expert to understand the various retirement accounts available and their respective tax advantages. In reality, most retirement plans in the United…

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What Is An Equitable Division Of Assets In An Illinois Divorce?

By Russell Knight | September 4, 2020
Equitable Distribution Of Assets In Illinois Divorce

The point of a divorce is to unwind a couple’s affairs while establishing and memorializing the remaining obligations between the two parties. The “unwind” part is simply the division of the party’s marital assets. The “ongoing obligations” is virtually everything…

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