Posted on March 02,2022 in Kane

Getting divorced means addressing multiple complex issues, including the division of marital assets and debts. For some couples, asset division is a straightforward process. However, the greater a couple’s complex and high-value assets, the more complicated asset division during divorce becomes.

If you or your spouse own stock options or restricted stock and you plan to divorce, it is important to understand how these unique assets are typically dealt with. Educating yourself is a great first step in protecting your financial interests during divorce and avoiding costly mistakes. Additionally, make sure to work with a skilled divorce lawyer experienced in complex property division matters.

Are Stock Options and Restricted Stock Considered Marital Property?

Marital property belongs to both spouses and typically includes any assets or debts acquired during the marriage. Non-marital property belongs solely to one spouse. The first step in addressing stocks in a divorce is determining ownership of the stock assets. Per Illinois law, stocks options, restricted stock, and similar benefits granted to a spouse during the marriage are considered marital property – regardless of whether the stock was vested or non-vested.

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 Posted on February 28,2022 in Main

Sexual harassment is a type of discrimination prohibited by the Civil Rights Act of 1964 and other legislation. Unfortunately, the issue of workplace sexual harassment is present in workplaces throughout the U.S. In recent years, however, more and more victims of sexual harassment and assault have come forward with their stories and started standing up for their rights.

Recently, Congress passed an amendment to the Federal Arbitration Act that ended mandatory arbitration for sexual harassment claims. President Biden is expected to sign the act into law soon.

New Law Invalidates Pre-Dispute Arbitration Agreements Between Employees and Employers

Prior to the amendment to the Federal Arbitration Act, some employees who experienced sexual harassment or assault at work were required to arbitrate their claims before bringing a lawsuit through the court. H.R. 4445 prohibits employee agreements obliging workers to mandatory arbitration. Instead, employees have the option to resolve claims through arbitration, or they may choose to proceed with litigation through the court. The new legislation puts the power back in the hands of the employees, not the employers. The amendment applies to employees who have already signed an agreement requiring arbitration.

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 Posted on February 21,2022 in Main

Per Illinois law, unmarried and divorced parents are still expected to contribute to their child’s financial needs. The parent with less parenting time usually fulfills his or her end of the obligation through child support payments. Many parents are confused about how child support is calculated. They know that child support is based on the parents’ respective net incomes; however, they are unsure of what constitutes “net income.” Furthermore, special circumstances can make the process of calculating child support even more complex.  

What Types of Income Are Used to Determine Child Support?

Illinois has adopted the Income Shares Model to calculate child support. This calculation method uses both parents’ net incomes to determine a child support payment amount.

Net income includes any source of income that increases wealth and may include:

• Hourly wages

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 Posted on February 21,2022 in Kane

Divorcing spouses must address many issues, including parenting and child support issues, the division of property and debt, and spousal maintenance. Ideally, divorcing couples will be able to reach an agreement regarding the terms of their divorce. Agreements save divorcing spouses time, energy, and money when compared to having to litigate contested issues. However, most couples need some help to reach an agreement about how to resolve their divorce. Family law mediation or divorce mediation is an alternative resolution method that may help spouses reach agreements on unresolved divorce and family law issues.

Determining the Terms of the Divorce in a Cooperative Manner

If you are in the beginning stages of divorce, you may feel trepidations. There are many major decisions to be made. Determining who will keep the family home or how you will divide parenting time with your children can be difficult under the best circumstances. Figuring these issues out with someone you are in the middle of divorcing is even harder.

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 Posted on February 15,2022 in Main

 Sexual harassment falls into two broad categories: hostile work environment harassment and quid pro quo harassment. A hostile work environment is created when a co-worker, supervisor, or employer behaves in ways that make the workplace intimidating, hostile, or abusive. Quid pro quo sexual harassment involves the exchange of job-related benefits for sexual or romantic acts.

Sometimes, sexual harassment is obvious. For example, if a boss suggests to a staff member that he or she will be guaranteed a promotion if the staff member sleeps with him or her, this is a clear example of quid pro quo sexual harassment. However, sexual harassment is not always this blatant. Read on to learn about five subtle forms of sexual harassment and what you should do if you have experienced harassment at your job.  

Sexual Harassment Can Be Insidious

Multiple federal and state laws prohibit discrimination and harassment of employees based on sex or gender. Unfortunately, workplace sexual harassment continues to be a problem. Sexual harassment that is more subtle and insidious in nature may include:

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 Posted on February 15,2022 in Kane

Getting engaged to be married is an exciting time in a person’s life. If you are like many newly engaged individuals, you may be interested in signing a prenuptial agreement, but you do not know how to bring it up with your partner. You may have concerns about how he or she will feel about the idea. This is understandable. Most people misunderstand the purpose of a prenuptial agreement or assume that prenups are only needed if the couple doubts the longevity of their marriage. However, more and more people are realizing that these myths are untrue. Signing a prenuptial agreement can greatly benefit both spouses in a variety of ways. Read on to learn more.

Evaluate The Possibility of a Prenuptial Agreement Together

Many partners are surprised and offended if their significant other brings them a prenuptial agreement and says, "Sign this!"  A better approach may be to investigate the potential benefits of a prenuptial agreement together as a couple. Take some time to read through information about prenuptial agreements in Illinois and the benefits they offer. Many family law attorneys are seeing an increase in prenuptial agreements – especially among younger couples. Evaluate the pros and cons of signing a prenuptial agreement and consider why these legal tools are becoming more popular.

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 Posted on February 09,2022 in Main

 Divorce can seem like a daunting process. Most people who want to end their marriage have little to no experience handling legal matters and dealing with the court system. The intense emotional toll divorce takes on a person can make it even harder to address the legal, financial, and logistical aspects of the split. If you are at the beginning stages of a divorce, consider reaching out to an experienced lawyer for help. Additionally, take the following steps to prepare yourself for the divorce process.

Learn About Illinois Divorce Laws

Each state has different divorce laws. To make the situation even more confusing, these laws change frequently. One way to boost your confidence and prepare yourself for divorce is to educate yourself about divorce laws in your state. Knowledge is power. Learning about the laws regulating divorce filing, grounds for divorce, property division, child custody, and other applicable divorce issues can help you feel more secure. It can also help you determine the specific challenges your divorce case may entail. Our own E-Book “MKFM Law’s Common-Sense Guide To A Successful Divorce,” is a great resource that is available for purchase on Amazon. You can also get a complimentary copy by simply sending a request to [email protected].   

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 Posted on February 02,2022 in Main

 Divorce at any age can be complicated. However, getting divorced in your 60s involves additional complicating factors. If you are thinking about ending your marriage and you are in your 60s, you may have financial, legal, and practical concerns. You may worry about your ability to retire on time or have questions about the ownership of your home. You may also worry about how divorcing will affect your grown children or the friendships you have with other married couples. There is no getting around it: Divorce later in life is challenging. Fortunately, you do not have to go through it alone. A divorce attorney experienced in “gray divorce” matters can be a tremendous asset during the divorce process.

Financial Considerations for Older Couples Who Divorce

During your divorce, you will need to address the allocation of your property and debts. In Illinois, property that was obtained by either spouse during the marriage is considered marital property except for a few exceptions. Retirement assets accumulated during the marriage are also considered marital property. A divorce attorney can help you figure out how the split will affect your retirement.

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 Posted on January 26,2022 in Main

State and federal laws prohibit employers from discriminating against workers because of their sex or gender. Sexual harassment falls under the umbrella of discrimination based on sex. An employee who is sexually harassed by an employer, supervisor, or co-worker may file a complaint. The employer is required to take action to prevent further harassment.

However, sometimes, the harassing individual is not an employer or employee. Third-party harassment occurs when a non-employee harasses an employee. If you were harassed by a vendor, contractor, customer, or other non-employee at work, read on to learn more.

Is My Employer Responsible for Harassment Committed by Non-Employees?

Employers have a legal obligation to ensure the workplace is safe. This includes taking reasonable steps to protect employees from third-party harassment. Employees should not have to tolerate sexual harassment, intimidation, or assault from clients, customers, delivery persons, vendors, independent contractors, or anyone else at work. If you were harassed at work by a non-employee, report the harassment to your employer. Your employer is legally obligated to investigate the situation and take corrective action.  Employers may be liable if they ignore third-party sexual harassment and fail to take corrective action after a sexual harassment complaint.  

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 Posted on January 26,2022 in Kane

 Ending a marriage requires the spouses to address multiple financial issues. Most couples need to determine who will keep the marital home, vehicles, furniture, and other property. They may also need to divide bank account balances, retirement funds, business profits, and other assets. Financial issues such as these are especially consequential in a high-asset divorce case.

However, for spouses or the court to determine a reasonable division of assets and liabilities, they must have a full accounting of assets and debts. Unfortunately, some spouses lie about property or income during divorce. They try to hide assets to shield them from division or fabricate financial information to lower their child support or spousal maintenance obligations. If your spouse is being less than forthcoming about financial information in your divorce, forensic accounting may help.

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