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,…
Articles Posted in Financial Issues in Divorce
Illinois Divorce: New Tax Law Wipes Out Tax Advantaged Maintenance Payments
One aspect in my practice that I have always been proud of is the fact that I have never pushed anyone to file for divorce when I believed that a divorce was not in their best interests. I have met with some younger married spouses, disillusioned by petty arguments. and…
Will County Divorce: We Clarified Illinois Law on Retained Earnings
My law practice has been distinguished over the years by being a prominent advocate for parents and children, especially when there are complex and difficult clinical issues involved in child custody matters. Having been a member of the American Psychological Association for over 15 years and following the seminars and…
Financial Issues: New Support Statute Might Affect Your Decision as to When to File
I receive calls almost every day from people considering filing for a divorce. I always take these calls seriously, and try to get a phone or personal meeting set up as soon as is possible as every person that I meet with has good and thoughtful questions. My policy has…
Illinois Divorce: Is January-March the Divorce Hot Season?
Couples starting the new year with a divorce may find untangling finances is no easy feat. Data from the University of Washington found that divorce filings start to pick up in January — a trend researchers theorized could be fueled by a rough holiday season. Filings peak in March and then…
Income Sharing Child Support for 2017
As the calendar year 2016 winds down, and as I approach another hearing on issues of child support next week, I am mindful that Illinois’ longstanding (and to some, draconian) child support statute is going to be replaced by a new and more modern “income shares” approach to setting child…
DuPage Divorce Lawyer: Child Support Changes Coming
Our Illinois Dissolution of Marriage Act ( IMDMA) has been going through a number of changes over the last year. One major change last year was the introduction of a spousal maintenance formula that created an entirely new landscape for the calculation for spousal support in divorce cases. This year…
Spousal Support in Divorce: The New Law in Illinois
A new law in Illinois as of January 1, 2015 changes how spousal support is determined for divorcing couples whose combined gross income is less than $250,000. This new law raises some interesting issues with respect to the global finances of divorce, so let’s examine briefly the new law of…
High Value Marital Estates: Dividing Artwork
My practice centers on high conflict divorces and complex child custody cases. In a number of my divorce and custody cases, there was also a high value marital estate that had to be valued and allocated, including marriages with business interests, stock options, and valuable investments and works of art.…
Divorce Financial and Retirement Asset Planning
The article below highlights some of the issues and concerns that attach to a divorce after a lengthy marriage. Under Illinois law, retirement assets are divisible between the parties; there is a common practice that IRA’s, 401(k)s and pensions are to be valued as of the date of the divorce,…