property division

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How To Hide Assets In An Illinois Divorce

By Russell Knight | April 23, 2022
Secret assets in an Illinois divorce

Has anyone really been surprised that they got a divorce? I don’t think so. Instead, couples facing divorce plan for months or years for their divorce. They organize their schedule around the kids. They build up an emergency divorce fund.…

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When To Separate Bank Accounts In An Illinois Divorce

By Russell Knight | April 22, 2022
Withdrawing money from a bank during an Illinois divorce

When you know you are getting divorced, you don’t need to wait for a court to order a division of assets to start dividing items. Couples usually each claim the car they were driving, their clothes and even pets well…

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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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Transmutation of Assets In An Illinois Divorce

By Russell Knight | November 21, 2020
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
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
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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Airline Miles And Divorce In Illinois

By Russell Knight | June 7, 2020
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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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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Social Security and Divorce in Illinois

By Russell Knight | October 3, 2018
Social Security Disability Insurance and Divorce

Social Security and divorce have interesting effects on one another in Illinois. Social Security is the United States’ federal government’s system for making regular payments to people if they are disabled and/or elderly. People who are getting divorced and also…

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