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 …
Ask Kym: How Do I Co-Parent Amidst COVID-19?
In the past few days, we have had numerous calls on this issue. While there is no clear law as to what rules apply to parenting time and visitation during a pandemic like COVID-19, since this is an unprecedented global health crisis, I wanted to provide some suggestions to our clients and potential clients who co-parent. Please remember that although …
NALC Fact Sheet: Community Property Issues with Farm and Ranch Divorces
Read Texas associate attorney Stephanie Bradley Fryer‘s take on community property issues for farm and ranch divorces. Cari and Stephanie teamed up on working on this Fact Sheet with the National Agriculture Law Center on this issue. You can read all the Fact Sheets on family law issues in agriculture here.
Family Law Issues in Agriculture: Child Support
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 …
Family Law Issues with Agriculture: Estate and Succession Planning
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 …
Family Law Issues in Agriculture: Animal Issues
Divorces among farm families inherently have animal issues – not only with live animals but also with genetic material (e.g., embryos, semen). These are important property disputes for some farm families. Depending on the state, companion animals can be treated differently. Companion Animals To begin, companion animals typically include dogs and cats, but can also include some exotic animals and …
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