I note three key issues usually discussed in prenuptial agreements in this short video. They are the identification of separate/ marital property, spousal maintenance and estate rights. Interested in a free 15 minute consultation on a nuptial agreement? Please contact cari@rinckerlaw.com or call (217) 531-2179.
Ask Cari: Is my inherited IRA included in my child support and maintenance calculations?
What is considered income for child support and maintenance calculations during a divorce can be very complex especially when it comes to inheritance. The Illinois Supreme Court recently helped to uncomplicate one gray area when it held that mandatory individual retirement account (IRA) distributions and withdrawals are considered income when calculating child support and maintenance calculations In re Marriage of …
Child Support During High Inflation
In the first quarter of 2022, inflation is up over 8%, the highest since the early 1980s. With this high inflation rate, you are likely paying more for everything for your child – from gas in your car, to diapers and music lessons. Maybe you’re wondering if your child support payments can go up to match your increased costs. Unfortunately, …
Business Ownership and Divorce: What You Need to Know
Divorce is rarely simple. When two people’s lives are intertwined—physically, emotionally, and legally—separating the individual strands can be a task akin to untying the Gordian knot. The longer a couple has been together and the more they share, the more difficult this task becomes. It can be even more difficult if the divorcing couple co-owns a business or one spouse …
Illinois Prenups: What You Need to Know to Get Started
Do I need a prenup before I get married? No one gets married with the intention of getting divorced, but it is always a good idea to protect your rights and your property in the event that life does not goes as planned, regardless of your financial circumstances. Divorce is inevitably complicated, contentious, and unpredictable. In Illinois, the law requires …
Illinois Family Law: Supervised Visitation
Supervised visitation requires the presence of a third party during parenting time. 750 ILCS 5/600(m). This restriction on parenting time can only be imposed after a hearing where the court finds the child’s physical, mental, moral or emotional health is “seriously endangered.” This is not as a strict a restriction of termination of parental rights. Instances where supervised visitation may …
Wanna Catch-Up on My Old Podcasts?
So the cat is out of the bag – I will be starting a new podcast soon with Purdue University Extension called “Ag Law Today”. In preparation of entering this new podcasting, I have compiled my old appearances on podcasts. You can view it here. Happy listening and stay tuned for more info on Ag Law Today!
Illinois Family Law: Duration of Spousal Maintenance in a Divorce
Once it is established that a spouse will be granted maintenance, the next question is: for how long? There’s not much guess work when it comes to the duration of maintenance because it is calculated under 750 ILCS 504(b-1)(1)(B) by a formula. The length of the marriage is multiplied by: • 20% if the marriage was for 5 years or …
Illinois Family Law: Is Adultery a Ground for Divorce?
People oftentimes come into my office asking me this question. As of January 1, 2016, there are no more “fault-based grounds” for divorce in Illinois. Under 750 ILCS § 401 dissolution of marriage is based on irreconcilable differences only. Specifically, it must be alleged that: 1) There is an irretrievable breakdown of the marriage; 2) Efforts at reconciliation have failed; …