On behalf of The Walters Law Group, Ltd. posted in Unmarried Couples on Wednesday, May 15, 2013. Statistics show that almost half of U.S. adults between the ages of 30 and 49 have lived together without the benefit of marriage. Marriage offers a number of benefits that living together does not. A break up is rarely easy, but when couples who are older separate, the problems are compounded, especially if they have additional assets. In some cases, the law doesn’t afford legal protections to unmarried people, especially in financial matters and inContinue reading
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Handling debt problems during divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, May 10, 2013. How a family court decides to allocate property and debts depends largely on whether the state is considered a community property state or an equitable distribution state. In community property states, the presumption is that debt is community debt and unless a spouse can prove otherwise with clear and convincing evidence, the debt is the equal responsibility of each spouse to pay after the divorce. In equitable distribution states like Illinois, a spouse is not usually liableContinue reading
Millionaires squabble over child support
On behalf of The Walters Law Group, Ltd. posted in Child Support on Saturday, May 4, 2013. While child custody and support battles are usually fought by those with limited means, even the richest are not immune to negative interactions regarding these subjects. Illinois residents may have heard that a former Goldman Sachs executive is accused of conspiracy in hiding assets with his girlfriend to defraud her child’s father out of thousands of dollars per month in child support. The suit claims that the two concealed substantial assets so that the mother couldContinue reading
Seek an experienced Chicago attorney for a prenuptial agreement
On behalf of The Walters Law Group, Ltd. posted in Family Law on Thursday, May 2, 2013. Attaining a prenuptial agreement in Chicago is a prudent decision regardless of wealth or socio-economic status. Pre-marital assets, such as retirement accounts, businesses and inheritances, can be protected via a pre-marital agreement. Though it may be difficult or uncomfortable to bring up the subject, signing a prenuptial agreement can spare couples unwanted stress in the event of divorce. Benefits of a prenuptial agreement include protection of future earnings and avoidance of debt. If a spouse decidesContinue reading
When the wife brings home the bacon in a marriage
On behalf of The Walters Law Group, Ltd. posted in Divorce on Thursday, April 25, 2013. For many of Chicago’s married couples, it is the husband who earns the most income. Accordingly, should a couple split, the husband usually pays alimony in a divorce settlement. However, this is not always the case as research indicates that in a small portion of households, the wife is the top earner. In such scenarios, women may have to make certain considerations. Women should consider having a prenuptial agreement drawn up to protect their assets. The prenuptial agreementContinue reading
Illinois seeks to restrict parental rights for accused rapists
On behalf of The Walters Law Group, Ltd. posted in Child Custody on Wednesday, April 24, 2013. According to an Illinois representative, there may be as many as 30,000 pregnancies each year that result from rape. In some cases, these women inexplicably find themselves fighting with their rapists for child custody. The Illinois legislature is currently discussing a bill that would make it easier for women in such a situation to prevent their abusers from obtaining custody. Currently, a woman can only restrict visitation and custody rights against an attacker if he hasContinue reading
Transgender man may appeal divorce ruling
On behalf of The Walters Law Group, Ltd. posted in Family Law on Saturday, April 20, 2013. Illinois residents may have heard about the unusual case of an Arizona man who became famous as the “pregnant man” after giving birth to three children. The man’s attorneys have recently announced that he may seek an appeal following a denial of a divorce decree by a judge in late March. The judge stated that the transgender man failed to show that he was a partner in a heterosexual marriage prior to seeking the divorce andContinue reading
Protecting spouses from premarital debt
On behalf of The Walters Law Group, Ltd. posted in Divorce on Thursday, April 11, 2013. Some Chicago residents may wonder whether a prenuptial agreement can help protect a future spouse from debts acquired prior to the marriage. The issue often arises when a person with substantial assets enters into a relationship with a person who has accumulated several debts. Property acquired after spouses enter a marriage is divided equitably during a divorce in Illinois. However, property acquired prior to the marriage remains the sole and separate property of the spouse that acquired it.Continue reading
Judge orders stay in child support case for lottery winner
On behalf of The Walters Law Group, Ltd. posted in Child Support on Tuesday, April 9, 2013. After winning a large Powerball jackpot while knowing that a warrant had been issued for his arrest, a New Jersey father can breathe a slight sigh of relief. Although the man owes approximately $29,000 in back child support, a judge has ordered a stay for the warrant that was issued against him. The Passaic County Sheriff announced that the warrant has been stayed for a few days until the man is expected to appear in aContinue reading
Facebook pictures lead to charges in child support case
On behalf of The Walters Law Group, Ltd. posted in Child Support on Friday, April 5, 2013. Chicago parents responsible for child support payments should be mindful of the pictures they post on Facebook. A Milwaukee man has been hit with felony charges for non-payment of child support after he posted pictures of himself on Facebook holding large amounts of cash. The Milwaukee District Attorney’s Office reported that they did not believe that the man was as poor as he claimed to be, so they obtained access to his Facebook account. TheContinue reading