In Illinois, courts determine child support through the "percentage of obligor net income" model. Essentially, there is an assumption that you and your ex-spouse split the costs associated with raising your offspring. As the non-custodial parent, a percentage of your...
Joliet Family Law Blog
Why is grey divorce on the rise?
As trends in divorce rates change over the years, some things stay consistent. For example, grey divorce rates consistently rise as time passes. Does this hold any particular implications? More important, what are the reason behind these consistent upward inclines?...
What do you have to address in an Illinois parenting plan?
When you and your child’s other parent split, but you both plan to share custody over your son or daughter, the state of Illinois requires that you submit something called a parenting plan or Joint Parenting Agreement. The parenting plan outlines each parent’s rights...
Consider using percentages when dividing a retirement account
You have spent years building up your retirement accounts, so if you end up divorcing your spouse, you want to keep as much of a 401(k) or an IRA as you can. This means avoiding mistakes that could deprive you of money you would have otherwise kept from your divorce,...
How does Illinois treat pets in a divorce?
In most states, the court only considers pets as property in a divorce during property division. Despite them being living things, the court does not set visitation or treat them any different than other property you own. According to the DuPage County Bar...
Protecting your share of the marital assets from dissipation
If your spouse has a large income, but your earning potential is much lower, you may be counting on fair property division to put you in a more comfortable financial position. With your portion of the investments and retirement accounts, you should be safe, right?...
What happens to art pieces during divorce?
You and your soon-to-be-ex have a say in how you want to divide property in your divorce. You know how to handle most assets, but you do not know what to do about your art collection. The American Bar Association discusses how art factors into the property division...
What happens if child/spousal support together are unaffordable?
In many divorce situations, the court will award both spousal and child support to one person. If this happens in your case and you are the one paying, you may wonder what will happen if the amount the court awards is too high and leaves you barely any money to live...
3 ways to help protect your financial interests amid divorce
When your Illinois marriage ends, you must figure out how to divide up any assets and debts you share so that you may start fresh on your own. The steps you take while your divorce is ongoing help determine your financial big picture. So, it is wise to take the time...
What are your options for splitting your private biz in divorce?
Before you and your spouse can divide property in your Illinois divorce, you will need to identify marital assets and assign a value to them. When it comes to assets such as bank accounts and homes, not much guess work is involved. However, if you and/or your spouse...
