On behalf of The Walters Law Group, Ltd. posted in Divorce on Tuesday, June 11, 2013. When it comes to marriage in Illinois, many couples fail to discuss entering into a pre-marital agreement. In many instances, people believe that a prenuptial agreement is not needed as discussing such an agreement signals an uncertainty about the upcoming nuptials. No couple wants to discuss the possibility of a divorce before even walking down the aisle. Regardless of whether or not a couple feels that a prenuptial agreement applies to them, the fact remains that nearly halfContinue reading
Tag Archives: Divorce
Prenuptial agreements protect in the event of divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, June 5, 2013. Discussing prenups with a future spouse can be particularly difficult. A prenup is a contract that divides assets in the event of a divorce, and most couples simply do not want to converse with their loved one about what would happen if their marriage ended before they have even walked down the aisle. However, prenups are put in place to protect both spouses and specify how any and all assets will be divided down the road, mitigatingContinue reading
Ways to simplify a divorce proceeding
On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, June 3, 2013. Divorce can be a complicated process. Some Illinois residents may be interested to learn of a few ways that spouses contemplating divorce may be able to help make the process simpler. The first step is to set anger or hard feelings aside during the divorce proceedings. These cases tend to be emotional, but using anger or other negative emotions when negotiating may only make the process more stressful. When a dispute arises, some experts recommend reviewing the reasonContinue reading
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
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
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
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
Managing your credit rating when getting a divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, April 3, 2013. Simply getting a divorce has no impact on the credit ratings of Illinois residents, but financial changes associated with splitting up a marriage can lead to lowering an individual’s credit score. This is why people who are considering a divorce should be proactive about tracking their credit score and splitting up finances as quickly as possible. The first thing that those considering divorce should do is get a copy of their credit score. This will tell them whatContinue reading