A business is an asset. Just because one spouse acquired a business interest before the marriage does not mean that it, or part of it, is not going to be considered marital property. In Illinois, business interest is subject to equitable distribution if: • the business ownership was acquired during the marriage; • there was an increase in value of …
Ask Cari: If a Parent Receives Money as a “Gift”, Does it Count as Income for Child Support Purposes?
Dear Cari, My parents give me money each month as I’m still a college student. Will this count as my “income” for child support purposes? I live in Urbana, Illinois. Thanks, Todd Dear Todd, Yes, the courts have the ability to consider that income. Consider these cases: In Re Marriage of Rogers, 213 Ill 2nd 129 (2004), which set forth …
Illinois Family Law: Was Your Marriage Invalid?
When two people are going through a divorce, one of the first things courts consider is whether the marriage itself was VALID. Albeit rare, under Illinois law, parties can assert a ground for dissolution of the marriage alleging that the marriage itself was not valid. Here are a few of the possible reasons: a party lacked property capacity to consent to …
Illinois Family Law: Common Law Marriage
Interestingly, Illinois does not recognize common law marriage (i.e., when two people cohabitate and hold the other out as a spouse for a certain period of time); however, Illinois WILL recognize a common law marriage in other state if that couple then moves to Illinois and then wants a divorce. Importantly, this doesn’t affect child support if there are kidlets …