Posted on September 12, 2014 in Alimony

When a married couple decides to divorce, the issue of spousal support, also known as alimony, may arise. This matter can be decided outside of a court, but if a couple cannot come to an agreement, it will be up to a judge to determine if spousal support is owed, how much will be paid and for how long.

Spousal support may be ordered in the form property, multiple payments or one lump sum. If it is determined that spousal support is owed, a judge will consider a variety of factors when determining how much to award.

These considerations include the income and assets of each individual as well as their financial needs and the quality of life that the couple was enjoying before the divorce. A judge will also look at the earning potential of each individual and any disabilities or issues that may prevent one person from being able to support himself or herself. Another consideration is if one individual provided assistance to the other in education or career opportunities or gave up their own career to take care of their family.

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 Posted on September 05, 2014 in Child Custody

Parents make important choices for their minor children like where to live, what medical treatment to have and what schools to attend. Children might not have the decisive power adults have, but kids do have opinions. Their desires concerning child custody and visitations matter to Illinois family courts.

Wheaton parents influence what children say, think and do. A child's opinion about custody arrangements may be swayed by which parent's rules are easier to follow or material benefits – a larger bedroom at mom's house or a later bedtime at dad's. Judges, who discuss custody with minors in the privacy of a judge's chambers outside parental influence, are aware of these factors.

A court or parent can request incorporation of a child's wishes into a custody decision. Ideally, a custody order is the careful examination of several elements leading to a judgment in the best interests of the child. Neither the desires of parents nor children are ignored.

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 Posted on August 29, 2014 in Alimony

In today's society, where Wheaton marriages commonly include two working spouses, some people feel financial support for an ex is unnecessary. You've probably heard former spouses refer to alimony as a type of post-marital reward, but that's not why spousal maintenance exists. Even when both spouses work during marriage, their individual financial statuses are often disparate – something that can become glaringly clear during divorce.

Spousal support seeks to balance the financial circumstances of couples as they exit marriage. Alimony can be temporary — for example, until an ex has sufficient education or employment training to self-support. Permanent spousal maintenance is less likely now than in the past, since fewer spouses today are entirely dependent upon another spouse's income.

FindLaw reports each state has its own laws dealing with alimony. Illinois courts base alimony decisions on several factors, not the least of which is a former spouse's ability to make support payments. The potential recipient also must have a legitimate need for support before spousal maintenance is considered.

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 Posted on August 22, 2014 in High Asset Divorce

Sports stars have many things Wheaton residents may envy – world-class athletic skills, sizeable fortunes and public recognition. There are downsides attached to being a professional athlete that might make you glad you aren't one of them. The divorce rate among well-paid, famous sports pros is 20 to 30 percent higher than the U.S. national average of about 50 percent.

Basketball superstar Michael Jordan wasn't immune from a marital break-up. He married early in his career with the Chicago Bulls and fathered three children during the marriage. Jordan divorced his wife Juanita 17 years later, after reconciliation attempts failed.

Reports in Sports Illustrated and The New York Times pegged the pro athlete divorce rate at between 60 and 80 percent. The very things people envy about sports professionals apparently contribute to problems in their marital relationships. Athletes are faced with easily-attainable temptations and spend a lot of time on the road.

Plenty of Illinois spouses with jobs that require frequent travel maintain solid marriages. However, those spouses probably don't have the added stress of being swarmed by fans, who may repeatedly invite them to participate in marriage-damaging activities. Professional athletes also have more than sufficient funds to keep them from getting bored, which they sometimes spend on all the wrong kinds of fun.

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 Posted on August 15, 2014 in Alimony

Not every Wheaton separation or divorce includes support payments to ex-spouses. When alimony is part of separation or post-marital agreement, each party has an obligation to account for payments on tax returns. How the payments apply to a tax situation depends upon whether you are a payer or recipient.

The payments are taxable income for the person who receives spousal maintenance. The former spouse making payments generally is entitled to tax deductions. In both cases, tax agencies like the Internal Revenue Service and family courts want proof of transactions to support claims during a tax or legal dispute.

Alimony payers and recipients are advised to keep track of payment dates, amounts, methods of payment and receipts. The records may show variances - the date an alimony check is written may differ from the date an ex deposits a check. Record-keeping should include relevant check or account numbers, addresses, bank names and copies of physical evidence — cashed checks, money orders and signed and dated receipts, especially when transactions are in cash.

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 Posted on August 08, 2014 in Child Support

Illinois family law attorneys help separated and divorced parents reach child custody and visitation agreements. Lawyers also provide guidance for setting up arrangements for child support. Some Wheaton custodial parents may not realize they can contact the DuPage County State Attorney's Office directly for help with some of these issues.

The state office, under the Illinois Department of Healthcare and Family Services, offers a variety of low cost or no-fee services to custodial parents, whether or not a parent receives government assistance. The office helps custodial parents without child support court orders to obtain them, as long as the child's parentage is clear. When the legal father of a child is unknown or in question, the office works toward establishing paternity before pursuing a child support order.

The office's Child Support Enforcement Unit safeguards the flow of child support between non-custodial parents and custodial parents. A custodial parent sometimes cannot collect back-owed support because the location of a non-custodial parent is unknown. The state has access to resources that makes finding a missing parent easier than a custodial parent's solo effort.

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 Posted on August 01, 2014 in High Asset Divorce

Emotions appear to dominate a marital breakup. In reality, decisions made at the end of a Wheaton marriage largely center around finances. The financial impact of divorce can be greatest at its extremes, especially when spouses have accumulated considerable wealth.

A high-profile Illinois couple is headed toward divorce. The 45-year-old founder of Citadel cited irreconcilable differences as the reason he wants to divorce his 43-year-old wife, Anne Dias Griffin, the head of her own investment firm. Ken Griffin and his wife have three children.

Insiders reported the Griffins were unofficially separated for at least one year before the July divorce petition. Discussions about the separation apparently began about five months ago. However, Anne Dias Griffin claimed the divorce filing was a surprise that occurred while she and the couple's children were on vacation.

The Citadel hedge fund and brokerage firm was founded the year after Kenneth Griffin graduated from college. He was married previously. Griffin and Anne Dias Griffin signed a prenuptial agreement before marrying 11 years ago.

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 Posted on July 25, 2014 in Child Custody

The company a parent keeps may influence the outcome of legal disputes with an ex. Illinois family courts place children's best interests first in child custody cases. While neither parent's fitness may come into question, Wheaton judges are sometimes required to decide whether contact with a third party is detrimental to a child's well-being.

The owner of the National Football League's Indianapolis Colts was arrested in March. Police said Jim Irsay was stopped for driving erratically. Arresting officers reported the ball club owner was too intoxicated to stand without support.

Investigators alleged Irsay was driving under the influence of a powerful prescription painkiller.Prosecutors originally intended to file felony drug possession charges. Irsay faces trial in August for drugged driving charges and possible disciplinary action from the NFL.

The team owner's alleged behavior is affecting a couple's child custody case. A divorced non-custodial father is worried about Irsay's influence on his children, ages 12 and 17. Irsay owns the home where the children and their mother live and apparently spends a substantial amount of time with the family.

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 Posted on July 18, 2014 in Child Support

Credit reports show how well people manage money. Lenders make decisions on credit extension and loans — in part, based upon an individual's credit score. A Wheaton consumer with a high credit score is likely to live up to the financial terms of a mortgage, credit card or car loan while a low credit score indicates a person is a risky bet.

Illinois lenders may dig a little deeper into a report and discover a non-custodial parent is behind on child support payments. Consumer credit analytics companies, like FICO and VantageScore, don't figure back-owed child support into a credit score. However, child support arrears will be visible on a credit report and affect debt-to-income ratios, which influence lender decisions.

Government and other child support agencies are required to supply delinquent child support payments details to credit reporting agencies, under the Social Security Act. A credit report from Equifax, TransUnion or Experian will show how much a parent owes in support. It's up to the consumer to make sure the report contains correct data.

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 Posted on July 18, 2014 in High Asset Divorce

Back in 2010, a member of the City Council in Chicago, Illinois, made an announcement to the public and to her fellow politicians that she and her girlfriend had gotten engaged to be married. This was done on the Illinois House floor, so it was a public declaration that she wanted people to hear about, using it as a chance to stand up for same-sex marriage rights by addressing the fact that her marriage would not be allowed in Illinois.

She noted then that the day was both bittersweet and happy all at once, saying that she felt anyone who was engaged to be married, regardless of their sexual orientation, should have the chance to celebrate their love.

When the two were married, the politician was the first elected official in the state - at least with that high of a profile - to be part of a same-sex marriage. Their marriage ceremony did not happen until 2011.

However, she recently took to Twitter to tell people that she and her wife are now going to be divorced. She says that this merely shows that people are all the same, giving a nod to the fact that both same-sex and opposite-sex couples sometimes end up getting divorced. She also said that her wife had asked to retain her own privacy during the process, and she asked people to honor that request.

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