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Posted on in Family Law

keep the house, Crystal Lake Divorce LawyerFor many couples, the marital home becomes one of the central issues in a divorce case. A home is generally a large chunk of a couple's property; therefore, it will naturally be an important part of the property division process. Additionally, there are a lot of memories tied to a marital home. People can often find comfort in the stability that comes with keeping a house during a divorce. However, there are several practical concerns where keeping the house is concerned. These may not be enough to outweigh the possible benefits, but divorcing homeowners should keep these concerns in mind.

Marital Home Concerns

One main concern to keep in mind when deciding upon whether or not to keep the marital home is that houses are expensive assets. Often, a divorcing spouse's options will be to keep the house, let the other spouse buy him or her out of the house, or sell the house and split the proceeds. Of these options, two tend to leave a divorcing spouse with a bank account, while keeping the house leaves him or her with an asset in need of upkeep.

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Posted on in BGL Law

Many people are discussing the rising incidence of divorce among people who are later on in life, something commonly known as gray divorce. These types of divorces present their own unique issues, and one of those issues is how to deal with people's retirements. While retirement planning is an important part of any divorce, the issue is often more pressing among older individuals. Social Security is an important part of many people's retirement planning, so the question of how Illinois law divides up Social Security payments in divorce is a common one.

How Illinois Divorce Law Treats Social Security

The short answer to the question of how Illinois divorce law handles Social Security is that it does not. However, as with many short answers, that is not the whole story. It may seem unusual that divorce courts do not divide up Social Security income when they divide up almost everything else, including other retirement accounts. Additionally, many people may be concerned about unfairness because Social Security income is based, in part, on a person's work record, so a spouse who stopped working to take care of the home would have a worse work record.

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Posted on in Divorce

Crystal Lake divorce lawyer, hidden assets in divorce, hiding assets, marital assets, spotting hidden assetsProperty division is a major concern in divorce—especially in one without custody issues. In order for a court to perform a fair and equitable property division, the court needs to have a clear picture of all of the marriage's assets. To help with this, several different counties require spouses to disclose marital assets. Yet while most spouses do this honestly, it is important to have an awareness of the common methods for hiding assets. This can help ensure that both spouses have properly performed the disclosure. At its most basic, spouses can hide assets in one of two ways—either making their income look smaller or making their expenses look bigger.

Concealing Income

One of the most common ways a spouse can conceal income is through coordination with an employer. If a spouse knows that he or she is due for a raise or a large commission, he or she can then talk to their boss and request to have it put off until after a divorce is finalized. This allows a spouse to keep the extra money way from the eyes of the court.

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Posted on in BGL Law

Illinois spousal maintenance guidelines, Crystal Lake divorce lawyerOn August 15th, the Governor signed into law a new set of guidelines for determining how much spousal support, also known as maintenance, spouses would owe as a result of a divorce. The guidelines seek to solve a problem that plagued the old system: spousal support obligations were often very difficult to predict going into a divorce.

The judge would have to set the support amount by examining a set of twelve factors including things like the married couple's standard of living, the duration of the marriage, and the earning capacity of each party. The new law maintains these factors as things judges should look to when determining support, but it introduced more strict mathematical guidelines to determine how much support should be paid and for how long the spouse will pay support.

Calculating Support Amount

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