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 …
Protecting Your Children’s Inheritance When You are Divorced
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 …
3 Things You Must Do Once Your Divorce Is Final
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 …
Illinois Family Law: Retirement Options for Teachers in Illinois
Retirement issues can be confusing, especially when there is a pension involved and one spouse has Social Security benefits. It is up to each state to decide whether (and which) government employees would be covered by Social Security. Therefore, a state could choose for teachers to participate in Social Security even if they are covered by a stand-alone retirement plan …
Illinois Family Law: Best Interest of the Child Test for Visitation
Everyone involved in a family law proceeding involving children has heard of the the “best interest of the child” test. So what factors do Illinois courts consider for parenting time (or visitation)? (A) the wishes of the child, taking into account the child’s maturity and ability to express reasoned and independent preferences as to visitation; (B) the mental and physical …
Illinois Family Law: The Allocation of Possession and Responsibility of Pets
Until a few months ago, the only statute dealing with custody of a pet was found in the Illinois Domestic Violence Act of 1986, which allows a judge to award temporary legal custody of an animal if domestic abuse is a danger to the pet. 750 ILCS 60/214. However, effective January 1, 2018, the Illinois Marriage and Dissolution of Marriage …
Illinois Family Law: Best Interest of the Child Factors for the Allocation of Parental Responsibilities
Everyone involved in a family law proceeding involving children has heard of the the “best interest of the child” test. So what factors do Illinois courts consider for custody (errrr, I mean the “allocation of parental responsibilities”)? (1) the wishes of the child, taking into account the child’s maturity and ability to express reasoned and independent preferences as to decision-making; …
Ribbon Cutting for the Illinois Office
Big thanks to everyone who came out and supported the grand opening of the Rincker Law, PLLC’s Illinois Office in Downtown Champaign. Special thank you to the Champaign Chambers of Commerce for hosting the ribbon cutting offering us the opportunity. Photos from the event are on our Facebook page here.
Depreciation of Farm Assets and Child Support in Illinois
Many times clients contact me on a child support matter who own farms and, accordingly, have expensive farm equipment. Farmers usually take deductions on the depreciation of expensive equipment on their tax returns. This MAY affect child support, as a trial court has discretion to include nonrecurring income in calculating net income for child support purposes. See In Re Marriage of …
Retroactive Child Support in Illinois
You might wonder if child support can be awarded retroactively. In short, it can. In deciding whether to order retroactive child support or not, the court considers the following factors: A determination of the factors specified in the Illinois Marriage and Dissolution of Marriage Act; The noncustodial parent’s prior knowledge of the fact and circumstances regarding the child’s birth; The …
Ask Cari: Questions on Divorce, Debt and Prenups
Here are some recent answers from some questions I received on the Big D’s (Divorce, Debt, and Death): 1. What should people know when it comes to your spouse¹s debt when it comes to death or divorce? In most states, all debt obtained by either party after the date of the marriage is considered marital debt while debt incurred before …