Qualified Domestic Relations Order
The U.S. Department of Labor defines a Qualified Domestic Relations Order (QDRO) as a “domestic relations order that creates or recognizes the existence of an alternate payee’s right to receive or assigns to an alternate payee the right to receive, all or a portion of the benefits payable with respect to a participant under a retirement plan, […]
Property Division in Divorce
Property division is one of the most challenging parts of a divorce. The parties usually need the help of an attorney to separate marital property from non-marital property. Marital property is property acquired during the marriage and is subject to equitable division. 750 ILCS 5/503(a). Non-marital property is property acquired by one party before or during […]
Does Divorce Mean Doom For Your Business?
When two people get married, are optimistic about their future together. The thought of the divorce is not usually a topic of discussion. Nonetheless, statistics have shown that more than half of marriages end in divorce, and being prepared in the beginning and discussing divorce planning options is not a bad idea, particularly when the partnership includes […]
What Exactly is Mediation?
According to the Huffington Post, “despite divorce mediation’s well-deserved reputation as a sensible alternative to fighting it out in court,” it seems the general public isn’t so versed as to just what mediation is. Mediation according to the Center for Conflict Resolution at Brigham Young University, is a “negotiation process in which the disputing parties are […]
Estimating the Value of Your Home in a Divorce
In many divorces, the house is the biggest asset acquired during the marriage. It is important to accurately determine the value of the marital residence for property division purposes. A recent article in the Huffington Post mentions three ways how to best value your home. 1. Get A Home Appraisal. A licensed appraiser can offer you the […]
No Gender Discrimination in Alimony
When people hear the word “alimony”, they usually picture an ex-husband writing out alimony checks to an ex-wife. But that isn’t always the case. According to new figures recently released by the U.S. Census Bureau, 28 percent of wives now earn more than their husbands, compared to 25 years ago when only 12 percent of […]
Preparing for Divorce
Marriages are supposed to last a lifetime, however, there are times when divorce is inevitable. Making sure you are prepared for this next transition in your life is crucial. Having the right people around you for support and as a back-up plan in case you need to move out can help things go smoother. Having things prepared […]
Relationship with In-Laws Leads to Divorce
It’s an age-old joke that the in-laws lead to divorce, but it turns out that there’s some truth it. A recent study reported on in CNN Health and, more recently, on NBC Nightly News, cites that divorce is tied to the relationship that a person has with his or her in-laws. According to NBC, “men who […]
Demi Moore Has Reason to File For Divorce
The process of divorce can take a long time if one spouse is dragging their feet. Another reason that divorces can take longer is when a couple can’t come to an agreement about issues prevalent to their particular case. An example from the celebrity world, Ashton Kutcher and Demi Moore separated after 6 years of marriage and […]
Technology That Can Be Used Against You in a Divorce
There has been a lot written about the do’s and don’ts of social networking sites, text messaging, and other technology for people who are going through a divorce. But as a recent article in the Huffington Post pointed out, today’s technology, with smartphones, tablets, cloud computing and laptops, and the ability to synchronize these devices and access […]
Woods Reportedly Proposes To Ex-Wife
Numerous media outlets are reporting that professional golfer Tiger Woods may be reconciling with his ex-wife Elin Nordegren. The couple, who had been married for almost six years, divorced in 2010 after a massive cheating scandal revealed that Woods had at least a dozen extra-marital affairs. Nordergren received a record-breaking $750 million in the couple’s […]
Expenses Post-Split to Negotiate Early
It’s no secret that a divorce can be far less messy if both parties have hired a competent and independent divorce attorney. Both parties will need their own attorney, even if the divorce is amiable, and most of the time everyone is privy to the expenses that can be incurred from hiring attorneys who are […]
Nascar CEO's Divorce Documents Made Public
Even though divorce is a serious issue, people are very curious when celebrities part ways. It is interesting to see what kind of settlements they reach, who gets the custody of their children or just read about those millions and millions of dollars someone lost in their divorce. From a lawyer’s perspective these cases can […]
Divorce Filings Increase in January
It’s not new news that the divorce rate increases significantly in January, for a myriad of purported reasons. According to The Examiner, this could be because some couples want to wait until after the holidays; sometimes for the sake of the kids, sometimes to minimize stress levels at an already incredibly stressful time of year. “Other wait […]
The Shortcomings of Prenuptial Agreements
The idea behind a prenuptial agreement is to set down directives to follow during a divorce. Generally, special care is used to work up these documents because they outline what would happen to property, assets and sometimes children if a marriage does not last. The majority of prenups are drafted for people who come into […]
Is Divorce Becoming Something People Celebrate?
Divorce is not a taboo anymore, and most people have seen and heard a number of stories about divorce. Celebrating divorce is, however, a phenomenon that has not yet become widely known. The New York Times did a story, not about a bridal shower, but a divorce shower. This unusual party was organized by a […]
A Few Common Misconceptions About Divorce
People talk about things they see and hear, so with divorce rates remaining high, people hear all kinds of stories about what’s going on with other people’s divorces. It would be smart to realize that everything you hear might not be entirely truthful, but the tales your coworkers and friends told you might actually be […]
Preparing for the Division of Property in Illinois Divorce Cases
Unlike some other states, Illinois is not a community property state. Money or property acquired during the course of the marriage is presumed to belong to the marriage and, as such, is subject to an equitable division upon divorce. What is “equitable” is decided on a case-by-case basis. Some examples of the property that is […]
