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Divorce Tax Treatment Changes Implemented January 1st, 2019

The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017. To ease the transition brought by the new law, the application of many individual tax changes were pushed back to take effect until 2019. One of those deferred provisions relates directly to couples seeking a divorce.  Since the tax law […]

Asset Division in Illinois

Throughout a marriage, couples acquire assets, that later are often deemed “marital property”. In the course of a divorce proceeding, if the spouses cannot agree, the court will decide the manner and amount of the division of assets (and debts). A judge will first characterize assets to be either marital or non-marital property.  While this […]

New Pet Custody Law in Illinois

Pets have always been considered property in the eyes of the law. A new state law, effective January 1, 2018, now allows a judge to determine custody for companion animals within the context of a divorce proceeding. The law, which excludes service animals, was introduced by Democratic Senator Linda Holmes (Aurora) and treats pets like […]

Protect Your Estate during a Divorce

  The legal process of divorce can be overwhelming emotionally, especially as it relates to the financial disruption that occurs with the divorce process.  Each divorcing person has an interest in protecting their financial future-not just the near term, but also following their death.  Too often the divorce process focuses attention on the immediate change […]

The Tax Reform’s Effect on Spousal Maintenance

The new year brought new laws. One of the most highly publicized, and impactful new laws brought significant changes to the U.S. tax code. If you are an individual seeking divorce you may be affected by this new law. Illinois’s spousal maintenance is based off combined income and years of the marriage. Individuals who finish […]

Do the New 2018 Tax Laws Affect You?

The new year brought new laws. One of the most highly publicized, and impactful new laws brought significant changes to the U.S. tax code. If you are an individual seeking divorce, a homeowner or potential home buyer, or a business owner you may be affected by this new law. CORPORATE The largest revision of the […]

Things to Consider Regarding Parental Decision-Making and Parenting Time

In January 2016 amendments were made to the Illinois Marriage and Dissolution of the Marriage Act. (“IMDMA”). These changes instituted new terminology, words like “custody” and “visitation” have been replaced with terms like “parental responsibility” and “parenting time” to emphasize the relevance of both parents and avoid lessening the significance of the role of either […]

New Laws for Divorce in Illinois 2016

Recently enacted legislation means that substantial change is coming in the way Illinois courts will handle divorce cases. These new laws will go into effect on January 1, 2016. Currently, in Illinois, there is a distinction between divorces based on fault grounds, such as adultery and mental cruelty and no-fault divorces based on irreconcilable differences. […]

Tips to Remember During a Divorce

Experiencing a divorce can be stressful. However, being informed, knowing what to expect and preparing for important steps may reduce the emotional burdens. We have compiled some tips to remember throughout the divorce to make the process easier on you. Before Manage the difficult emotions that come when your relationship is past the point of […]

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