On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, August 2, 2013. Gay couples throughout Illinois who took advantage of their right to enter a civil union have gained another victory. Amazingly, this victory comes in the form of a law passed hundreds of miles away. While gaining the right to gay marriage and civil union rights were hard-fought battles, obtaining a divorce is still difficult. Gay couples often travel to places where civil unions are legal and recognized. What these individuals don’t realize, however, is the fact that theyContinue reading
Tag Archives: Divorce
Fox legal analyst gives advice on prenuptial agreements
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, July 26, 2013. As of 2011, Chicago’s divorce rate stood at 7.4 percent for men and 10.2 percent for women. As a result, some residents interested in getting married in the near future — or perhaps those who have been married and are now considering divorce — may be interested in learning more about prenuptial agreements and how they influence family law matters in Illinois. A recent segment on “Fox & Friends” may provide them with valuable insight. While discussing theContinue reading
Recent TV segment highlights prenuptial agreements
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, July 24, 2013. In a recent “Fox and Friends” television segment, a noted legal analyst stated that two groups of people are considered to be the most likely to avail themselves of pre-nuptial agreements: those who marry for the second time and those who marry later in life. Couples in Illinois and across the country might be interested to know that “prenups,” as they have become known, are considered a good idea. According to the analyst, the most importantContinue 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
Alimony laws are changing
On behalf of The Walters Law Group, Ltd. posted in Divorce on Tuesday, July 9, 2013. Illinois residents may be aware that new alimony legislation is being considered in several states. The proposal is centered on lessening the burden of permanent spousal support after separation of divorce. Several states have already adopted the reform, and it includes specific amount of money and length of support for the receiving spouse. The opponents of the new laws argue that the reform may adversely affect many women who may not have any other sources of income,Continue reading
Dividing frequent flyer miles in a divorce settlement
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, July 5, 2013. For many Chicago couples, arriving at an amicable divorce settlement largely comes down to the division of marital assets. When it comes to assets such as stock portfolios, real estate and art collections, assigning a monetary value is not difficult. Credit card reward program points and frequent flyer miles are harder to negotiate. Some couples may run into questions about these types of programs, making a fair division a potentially contentious issue. These rewards can take years toContinue reading
Getting divorce in Illinois? How to protect assets
On behalf of The Walters Law Group, Ltd. posted in Divorce on Tuesday, July 2, 2013. Whether an Illinois individual has a wealthy spouse or not, it is important to prepare for intense legal battles with a possible spouse-turned-asset-bully. Many high-powered personality types don’t care about the money. They want to win – at all costs. It’s a game to them, and they enjoy playing the game, says a partner with a Los Angeles law firm. That’s why it may be time to make financial preparations when an individual knows that a divorce isContinue 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
Defining property ownership in divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, June 17, 2013. Understanding the difference between marital and non-marital property is crucial to determining the best individual course of action in a divorce. As an equitable distribution state, Illinois courts distribute all marital property equitably, or fairly, although not necessarily equally. Most property acquired during the marriage is considered marital property, regardless of who owns it or how title is issued. Therefore even if only one spouse is named as the owner, both spouses have an ownership right inContinue reading
Working moms and custody cases
On behalf of The Walters Law Group, Ltd. posted in Child Custody on Thursday, June 13, 2013. The Bureau of Labor Statistics reports that about 70.5 percent of moms work outside the home. Additionally, 30 percent of working women make more money each year than their husbands. This change in gender roles has also resulted in a change in some cases regarding child custody, causing dramatic reversals in determining which Illinois parent should get primary custody and spousal support. Historically, most mothers, whether they were working or not, usually received the kids duringContinue reading