On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, October 18, 2013. As difficult as custody and child support issues can be for a couple when they are getting a divorce, the subject can become even more complex if the parents were never married. This can be especially so for unwed fathers. There are many incorrect assumptions that such fathers often make that can keep them from fully taking advantage of their rights and being aware of their parental obligations. One major misapprehension is that the signing ofContinue reading
Tag Archives: child support
Stocks may be sold in Illinois to help pay for divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, September 20, 2013. Is there ever a good time to sell major stocks? Individuals who are in the midst of an expensive divorce may want to consider doing so as did the CEO of Best Buy who sold over $10 million of his company’s stock to pay for divorce proceedings. Such large sales of major stocks often raise eyebrows because they could be signs of insider trading. The Best Buy CEO has been credited with turning around the electronics retailer. TheContinue reading
Man in reduced circumstances jailed for missing alimony
On behalf of The Walters Law Group, Ltd. posted in Family Law on Tuesday, September 17, 2013. A family court judge has ordered that an ex-husband mired in financial difficulties remain confined to a work-release program where he must spend his nights and weekends in jail. In order to secure his release, the man must pay a lump sum of $25,000 toward more than $233,000 of spousal support that he owes his former wife. Jailed at least eight times in the past two years for missing child support payments, the man formerly worked asContinue reading
Blue Cross embroiled in child support payment case
On behalf of The Walters Law Group, Ltd. posted in Child Support on Thursday, September 12, 2013. An Illinois woman has found herself pitted against an unlikely foe in efforts to secure money for her and her children following a divorce. The insurance company Blue Cross and Blue Shield of Illinois has refused to comply with a request from the divorced woman to withhold reimbursements to her husband, a self-employed chiropractor, so that she can receive the child support payments to which she and her children are entitled. Blue Cross has contended that itContinue reading
Chicago fathers’ rights could be leveraged in fake pregnancy scam
On behalf of The Walters Law Group, Ltd. posted in Unmarried Couples on Tuesday, September 10, 2013. In a case that could happen in Chicago or anywhere with trusting friends, a couple bilked everyone around them by claiming that the wife had miscarried twins. The fact was, there would never have been a child custody battle with this alleged mother and father, since the pregnancy was never real in the first place. The duo received money for funeral expenses and other supposed costs due to the nonexistent tragedy. They also received jail time onceContinue reading
Financial planning can assuage common divorce fears
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, September 6, 2013. Illinois residents weighing the prospect of divorce might harbor reservations about doing so because of fears that they have about what will happen after the process is over with. This is especially true for the spouse who is considered the “out spouse,” or the one who lacks a working relationship with a financial advisor or attorney and is not involved in household finances, including bill-paying and investments. The “in spouse,” on the other hand, has aContinue reading
Illinois gambling winnings may be seized to pay support
On behalf of The Walters Law Group, Ltd. posted in Child Support on Monday, August 26, 2013. A new Illinois law aims to help the state reduce the state’s $3.1 billion of unpaid child support. Under the new law, any time a person wins at least $1,200 at a casino or racetrack, those winnings may be taken to pay past due child support. The law became effective immediately. When a person wins more than $1,200, the casino or racetrack is required to check the state’s database, which will be updated in real time.Continue reading
Dividing your assets at divorce with prenuptial agreements
On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, August 12, 2013. Prenuptial agreements are an important part of the proceedings when there is a high asset divorce. Illinois residents who are preparing for marriage or divorce may be interested to know some things to look out for when preparing a prenuptial or postnuptial agreement or attempting to negotiate property division at the dissolution of a marriage. A prenuptial agreement that is very old and without any postnuptial modifications or clarifications is liable to be challenged by theContinue reading
Divorced spouses remain liable for mortgage payments
On behalf of The Walters Law Group, Ltd. posted in Divorce on Thursday, July 11, 2013. When a couple files for divorce in Illinois, a common practice that often occurs is for one spouse to sign off on a deed to a house and transfer it to the spouse still living in the home. Although this transfer of property has legally occurred, as far as the mortgage company is concerned, both spouses are still responsible for payment of the mortgage as the lender does not have to remove either spouse’s name fromContinue reading
A fair divorce is not always a happy divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, June 28, 2013. Chicago couples who are seriously considering the dissolution of their marriage may be interested to learn that, in some cases, a fair settlement may not always make everyone happy. According to one woman, she discovered that agreeing to pay her ex-husband maintenance during their divorce negotiations actually set the groundwork for an amicable relationship after the split. According to the woman, her husband was unemployed at the time of the divorce. He asked that she pay him maintenanceContinue reading