The issue of cohabitation in Illinois divorce cases is an interesting one. Sometimes, a spouse that is receiving maintenance support engages in a relationship with a third party after the divorce. The payor spouse many times feels a bit cheated, in that a former spouse (payee) receives financial support while…
Valuing a small business in a divorce can be complex and often involves several methods. Here are some common approaches: Income Approach: Capitalization of Earnings: This method estimates future profits and applies a capitalization rate to determine the business’s value. Discounted Cash Flow (DCF): Projects future cash flows and discounts…
Confusion still reigns with respect to the tax treatment of spousal maintenance for Illinois divorce cases. I still see other law firms discussing online spousal maintenance (support) using the old rules. In Illinois, spousal maintenance (also known in other states as alimony) is generally not tax-deductible for the payor nor…
A few years ago, I tried a lengthy case in Will County, Illinois that ended up on appeal on a few key issues. One of these issues is that at trial, I put in evidence and argued that the small company owned by the parties should have its retained earnings…
One aspect of my practice is to deliver high level legal skill to my clients, while at the same time optimizing their outcomes in a cost-effective manner. Divorces don’t need to cost an “arm and a leg.” Divorce can be emotionally and financially taxing for all parties involved. While the…
In my practice, much of the emphasis on this blog is placed on complex child custody litigation, and how to manage these difficult issues with child custody litigation. Yet, in some of my cases along with child custody issues there can be significant financial issues and division of property…
For the decades that I have been practicing Family Law/Divorce/Child Custody, I have always endeavored to deliver good value for the money spent on legal fees. Aside from keeping my hourly rates at a moderate level so that they are affordable for all clients, I also have some pride in…
I can say that most of the calls to my firm involve significant and complex child custody issues, many involving psychological issues or parental alienation concerns. Yet, it is still very important for my practice to focus on financial issues in divorce, as well. Issues concerning support calculations, and valuation…
Reading up today on divorce planning, the reminder was made that the summer is often the time that many people postpone thoughts of divorce. The reasons for this are many. Business during the summer with activities takes the attention away from difficult subjects like divorce. For many parents, it’s just…
One of the pleasures of my practice in managing only Family Law cases (primarily divorce and child custody cases, and post decree problems with financial and child related issues such a modifications to custody or support orders) is the opportunity to meet with some really fine, caring, and interesting people,…