Posted on March 13, 2023 in Main

Property division, parenting plans, child support - with so many things to contend with during a divorce case, tax considerations often get put on the back burner. If you are planning to divorce, it is very important that you understand how the divorce will influence your tax obligations and prepare appropriately. Educating yourself about tax-related matters now can help you avoid unpleasant surprises and unexpected fees later on.

Tax Filing Status

Once the divorce is finalized, you and your spouse will file taxes separately. During the divorce process, however, you may still be allowed to file jointly. If your divorce was not finalized in the previous year, you can file jointly. Filing jointly may allow for a higher deduction and therefore, a larger refund. If your divorce decree was issued on or before December 31, you cannot file jointly for that year.

Tax Considerations for Retirement Accounts

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 Posted on March 09, 2023 in Main

When a marriage nears its end, the situation can become contentious rather quickly. Both spouses may deal with feelings of resentment, guilt, anger, and fear. Another common element in many divorces is the financial strain that comes with it. If one spouse cannot afford to move out, then the spouses may be stuck living together until a solution can be reached.

Many spouses question whether they can even get a divorce if they are still living together. They wonder if there is a mandatory separation period in Illinois before divorce is permitted and how long it must last. 

If you find yourself in this situation, read on to learn about the divorce requirements in Illinois and what to do if you want to file for divorce but cannot move out immediately.

There is No Longer a Mandatory Separation Period for Divorce

In the past, Illinois required spouses to live separately for a period of at least six months before they could obtain a divorce. This separation period was intended to give couples time to think things through and consider reconciliation. However, in 2016, this requirement was removed from the state laws. Now, you do not have to live apart for any length of time before getting divorced.

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 Posted on February 28, 2023 in Main

Even though the Illinois legal system has developed a sophisticated process for handling complaints of sexual harassment, many people still endure this unacceptable behavior at work and are unsure how to handle it. Worries about embarrassment in front of colleagues, a desire to avoid confrontation, and/or a fear of retaliation often keep people from speaking up about sexual harassment when it happens. Sometimes, it can be difficult to recognize that inappropriate behavior is sexual harassment until after the fact. 

However, it is essential to speak up and take action when you feel that are being sexually harassed. There are many reasons for this, not least of which is that what offends one person may not necessarily offend another, and the person bothering you may not realize they are doing so. At the same time, it is important not to let someone continue bothering you simply because they state they do not intend to sexually harass you. 

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 Posted on February 25, 2023 in Kane

People who work hard and take professional risks are often rewarded with commensurately high incomes. While this can be a major personal boon, when it comes to divorce, having a significant income or high net worth can create complications. One of the most complicated areas of divorce for high-net-worth individuals and families is that of alimony (known technically as “spousal maintenance” in Illinois). Cases involving alimony for separated high-net-worth couples can be complex and difficult to predict, leading to frustration for both spouses. Understanding the law in this regard is essential for setting realistic expectations and negotiating for fair alimony payments. 

Alimony and High Net Worth Divorce

High net worth divorces are generally regarded as those involving over one million dollars in liquid assets, but as long as a couple makes a combined income of less than $500,000, the length and amount of alimony is calculated according to a formula. The formula uses the length of the marriage to determine the length of payments. To determine the amount of payments, the formula subtracts 25 percent of the net income of the spouse who earns less from 33.3 percent of the net income of the spouse who earns more. 

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 Posted on February 22, 2023 in Main

Research suggests that few life events are as disruptive as divorce, especially when it happens unexpectedly. However, being prepared for divorce - anticipating its beginning and understanding what you can do to help yourself through the process - can make a major difference in terms of how much stress you feel. If you are considering divorce or suspect your spouse may be getting ready to file for divorce, here are five steps you can take to minimize the negative impacts of a divorce on your life. 

Understand Your Financial Situation

Many couples have an implicit or explicit arrangement in which one spouse manages the family’s financial affairs. If you are not the spouse who takes care of the money, do everything you can to learn about the specifics of your family’s financial situation. Find out where your bank accounts are located and what the balances are, how much money you owe on your mortgage, car payments, and other loans, and how much you have saved for retirement. Gathering documentation that proves these things is important as well. 

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 Posted on February 10, 2023 in Kane

The time before a marriage is often one of great excitement and anticipation. It can also be a time of enormous stress - especially if one fiancé announces unexpectedly to the other that his or her parents want a prenuptial agreement to be signed before the marriage can take place. The partner who is given the option to either sign a prenuptial agreement or cancel the wedding may feel a wide range of emotions - surprise, confusion, and uncertainty, just to name a few.

 If you find yourself in this situation, it is important to take a deep breath and understand exactly what a prenuptial agreement can and cannot do. A prenuptial agreement may end up working to your advantage if it is written correctly.

You Cannot Be Forced into Signing a Prenup

No matter what your fiancé or his or her parents say, a prenuptial agreement signed under coercion or duress is not valid under Illinois law. So, if you are presented with a prenup a day before your wedding takes place, and you sign it because you are terrified of the implications of canceling the wedding, the prenup could be invalidated on the basis of duress, if you get divorced.

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 Posted on February 10, 2023 in Main

In 2016, Illinois updated the Illinois Marriage and Dissolution of Marriage Act (IMDMA) to better meet the needs of unmarried and divorced couples. The current law altered the language to represent modern parenting styles more accurately. Instead of one parent being the primary custodian and the other parent merely having visitation rights, the law now describes parenting duties as being shared between the parents. Parents who are getting divorced should be sure to understand the new law, as it differs somewhat from laws in surrounding states, both in terminology and function. 

The allocation of parental responsibilities is an important part of the IMDMA. Generally speaking, the term parental responsibilities is used to describe important decision-making capabilities, which are divided into four general categories. Visitation is now called parenting time. Parenting time refers to the time that either parent spends caring for and supervising the child. 

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 Posted on February 10, 2023 in Main

Victims of sexual harassment are often torn about who to tell and where to go for help. Depending on the details of the harassment, you may not know who in your company you should go to or you may even feel uncomfortable speaking to the person you need to speak to. Furthermore, you may not want the person harassing you to get in serious criminal trouble, even if you are intent on getting the harassment to stop. If any of this sounds familiar to you, speak with an Illinois sexual harassment attorney right away. 

Do I Go to the Police About Workplace Sexual Harassment? 

As with most legal questions, the answer is, “It depends.” Certain types of sexual harassment rise to the level of criminal assault and require the intervention of the authorities. Rape and other forms of physical and sexual assault, blackmail, trafficking, and other serious forms of sexual crimes certainly warrant police attention and may result in criminal charges being brought against the accused. 

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 Posted on January 30, 2023 in Kane

Starting a business and getting it up and running is no small endeavor. It takes an enormous amount of effort, commitment, and consistency to succeed in business ownership, and many different factors exist that constantly threaten the success of a business. Although many business owners are aware of the dangers of competitors, supply chain difficulties, and rising office rental prices, there can also be another source of danger that they do not suspect until it is too late: divorce.

Business assets are generally considered part of the marital estate. Unless your business is specifically protected by a prenuptial or postnuptial agreement, it is fair game in the property division process during divorce. You may be required to compensate your spouse for his or her share of business assets. Your spouse may also be liable for your business’s debts. Separating your business from your marital estate can be a very wise tactic and, if you are already married, a postnuptial agreement can help you do this.

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 Posted on January 20, 2023 in Kane

There is arguably no relationship more sacred than the one between a parent and child. For children, solid, loving relationships with their parents are crucial for their healthy development and well-being. Because of this, many states, including Illinois, have placed a specific emphasis on allocating parenting time to both parents of a child, rather than solely to one parent. While it may not always be a 50/50 split, most custody cases involve both parents having parenting time with their children, and it is typically in the child’s best interests to spend substantial time with both parents. However, there may be cases in which the court finds that it is necessary to place restrictions on parenting time.

When Are Parenting Time Restrictions Appropriate?

The Illinois Marriage and Dissolution of Marriage Act (750 ILCS 5) specifically states that both of a child’s legal parents are presumed to be fit to care for their child, and in the vast majority of cases, the court will not restrict or limit parenting time. When children are involved in a divorce or a parental dispute, the duty of the judge and the court is to ensure the child is being taken care of adequately. If the court finds that the physical, emotional, or mental well-being of the child would be seriously endangered by allowing a parent to exercise parenting time, the judge can restrict parenting time for that parent.

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