Child support in most states is largely formulaic (i.e., a math equation)– basic support is typically calculated by looking at the income and qualified deductions of each parent. However, for most involved in farming and ranching or other kind of agri-business, finding the numbers for the math equation is anything but straightforward. This figure is also used to help calculate …
Most parties going through a divorce do not consider the option of keeping the farm business intact. Everyone’s brains (including the lawyers’) typically go to dividing the farm/ranch assets, along with its inventory. However, there is another option: keeping the business intact. This has several advantages, especially if this is a multi-generational farm family business. This requires careful planning and …
It is uncommon for agriculture producers and business owners to consider estate planning and succession planning for their agriculture operation in the midst of a divorce; however, divorcing farm families should consider this while negotiating the division of marital assets. These assets may include the farm or ranch business and its assets. After all, divorce is one of the Big …
In Illinois, spousal maintenance obligations ends either: (1) automatically based on a date specified in the court order; (2) automatically upon remarriage; (3) when the recipient spouse begins cohabitating with a significant other, which requires the payor-spouse to ask the court; (4) automatically upon death unless a life insurance policy is to be paid to the recipient ex-spouse when the …
Medical records are required to be produced if they are relevant for spousal maintenance. If the spouse requesting maintenance is claiming he or she cannot work because of a medical condition, then the other spouse is entitled to the medical records. During the discovery phase of litigation, the parties may request documents that are relevant to the divorce, including spousal …
When a divorced or separated parent who has physical custody of the child(ren) wants to relocate, he or she is required to give at least sixty (60) days’ prior written notice of the change of residence (“relocation”) to the other parent, unless such notice is impracticable or unless otherwise ordered by the court. See 750 ILCS 5/609.2(d). This notice must …
I get a lot of questions during consultation on the factors to determine the allocation of parental responsibilities in Illinois. Although trial court judges are given a lot of deference to take into consideration the totality of the circumstances, the statute sets forth 14 concrete factors (and one catch-all factor) for the court to consider. They are: the wishes of …
As of 2018, matrimonial judges can consider the “well-being” of a pet in deciding whether there will be sole or joint ownership. The new law expands the Illinois Marriage and Dissolution of Marriage Act (“IMDMA”). Now, 750 ILCS 5/503(n) states that: “If the court finds that a companion animal of the parties is a marital asset, it shall allocate the …
Consider this story. Beth’s divorce from her husband was recently finalized. Her most valuable assets are her retirement plan at work and her life insurance policy. She updated the beneficiary designations on both to be her two minor children. She did not want her ex-husband to receive the money. Beth passes away one year after her divorce. Her children are …
The divorce process can be long and expensive. However, the work does not end once the divorce decree is signed. In order to ensure that your assets and estate planning wishes are carried out in light of this major life change, there are three things you must do as soon as possible. Change Beneficiary Designation On Life Insurance A life …