In Illinois, when a spouse spends money for non-marital purposes, we call it dissipation. Amounts dissipated are essentially put back into the marital pot to be divided. The timing of the spending, the status of the marriage when the funds were spent, the purpose of the spending, and the amounts … [Read more...] about Dissipation: Spending Funds for Non-Marital Purposes
Divorce - Property Division
Financial Consequences of a Divorce
What happens during a divorce regarding money? There main financial issues involve how to divide property, child support and spousal support (maintenance). Understanding the financial issues involved and your rights under Illinois law will help you navigate your divorce. Is it cheaper to … [Read more...] about Financial Consequences of a Divorce
Bankruptcy and Divorce
Unfortunately, bankruptcy and divorce can be interrelated. When there are not enough assets or income in the marriage and a bankruptcy is necessary, you and your attorney should discuss when to file for bankruptcy, how to file for bankruptcy and the bankruptcy's effect on the current or future … [Read more...] about Bankruptcy and Divorce
Numbers Count in Divorces — Know Them
Your divorce is unique. Yet decades of cases with some similar factors or issues may have been decided by appellate courts in Illinois. This history, or precedent, can be used by current courts to aid judges in making decisions. Knowing the numbers in Illinois divorces helps divorce lawyers make … [Read more...] about Numbers Count in Divorces — Know Them
Marital Property
Identifying and Distributing Marital & Non-Marital Property in an Illinois Divorce In an Illinois divorce, you need the difference between marital and non-marital property. Knowing the difference between marital and non-marital property both before and during a divorce can keep you from making … [Read more...] about Marital Property
Retirement Plans and Illinois’ Divorce
Retirement plans and the house are usually the most valuable assets of a marriage. Dividing retirement plans can be complex, especially when the plan existed before the marriage and continued to accrue benefits after the marriage. However, since pension plans and other retirement plans can be quite … [Read more...] about Retirement Plans and Illinois’ Divorce