Is it too late for a prenup if I’m already married? In Illinois, prenups become effective on the day that you and your betrothed are legally married. If you’re past that point, a prenuptial agreement is no longer a valid option. That does not mean it is too late for you and your spouse to protect yourselves and your respective …
Not all prenuptial agreements are created equal. Sometimes, in the course of a divorce proceeding, the court will strike down a prenup and refuse to enforce it between the divorcing parties. If you are working with an attorney to draft a strong prenuptial agreement between you and your betrothed, or if you have a prenup and are contemplating a divorce, …
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.
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 …
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, …
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 …
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 …
This time of year is my favorite season — and sometimes I refer to it as Prenup Season. Why? Couples planning to tie the knot this spring or summer may be considering a prenup. I also posted a quick video here on the topic. Here are three tips for the betrothed who want a prenuptial agreement: The sooner, the better. …
As a divorce attorney, I get a lot of questions about Consolidated Omnibus Budget Reconciliation Act (“COBRA”). More specific information relating to your family’s health insurance should be investigated by you and your spouse via the applicable employer. Generally speaking, COBRA is governed by the Employee Retirement Income Security Act (“ERISA”) and applies to covered employees, their spouses, their former …
Prenuptial agreements are oftentimes viewed as taboo; instead, farmers, ranchers, agribusiness owners, and food entrepreneurs should view prenuptial agreements like an insurance policy for a marriage. Nobody gets on an airplane thinking that it is going to crash, but you still go over the safety instructions. A prenuptial agreement simply notes the safety instructions in case the marriage terminates for …
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 …