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Child Support Guidelines Feuding Parents Cannot Ignore

Child custody battles can turn a family’s life upside down, but the parent who has custody of the children can give them a stable life with adequate child support. In Illinois, this is determined by a set of guidelines the court uses to calculate the amount the non-custodial parent must pay. This includes a formula that can come into effect if the guidelines do not meet the best interests of the children. Some of the factors that can influence this include the child’s: Education requirements Standard of living or lifestyle pre-divorce, i.e... Read more

Filing Bankruptcy in Illinois? Here Is What You Need to Know

Declaring bankruptcy can seem devastating at first, but the relief you feel will be palpable. That’s because by taking this action, you can: Protect your home from foreclosure and get time to make outstanding mortgage payments Prevent the utility services from cutting off your gas, electricity and water supply Challenge creditors who are trying to make you pay more than you owe Discharge your debts by getting a fresh start on your financial obligations Prevent the bank or a business from reclaiming your vehicle or other property if you were ... Read more

What You Need to Know About Alimony Laws in Illinois

Divorce can be a messy affair for a couple but knowing divorce laws can help you streamline your plans for a new beginning. What Is Alimony? Alimony or spousal maintenance refers to payments an ex-spouse must make post-divorce as alimony under certain circumstances. According to state law, a spouse has the right to demand temporary alimony when the divorce case is pending as support in maintaining their financial status. However, before a judge can grant one, the court has to determine whether the recipient of the alimony requires financial aid... Read more

Home Purchasing Basics in Illinois

If you are trying to buy a house in Elgin, IL, understanding local real estate requirements and laws can help you save thousands. Here are some tips that can help you make an informed decision: Research Market Trends Reading up on Illinois real estate market trends can help you determine the right time to purchase a home. Timing can make a huge difference when it comes to the cost of the house. This is best done with an experienced real estate agent who is familiar with the market. For example, unlike you, a real estate agent knows that even ... Read more

The Need for a Will and a Trust in Estate Planning

A comprehensive estate plan will have both a will and trust to ensure all financial and physical assets are distributed in an orderly manner after the death of an individual. The process of estate planning and the forming of trusts is currently covered under the Illinois Trusts and Trustees Act. However, starting January 1, 2020, it will be replaced by the Illinois Trust Accumulation Act. Estate planning is considered an important milestone for an individual. The two main instruments used to either distribute financial and physical assets inclu... Read more

Managing Parenting Time with Non-traditional Work Hours

All divorce proceedings under the Illinois Marriage and Dissolution of Marriage Act require a parenting plan to be presented as part of the divorce agreement. It helps identify who has custody of the child and how parenting time or visitation will take place. A pre-planned arrangement helps reduce friction and confusion between both parents, which can ultimately affect the self-esteem and psychological development of a child. Many parents might have non-traditional working hours, which may make it difficult for them to develop a holistic parent... Read more

The Basics of Estate Planning and a Secure Future

Estate planning is an important milestone and a critical part of our adult life. It is the process of structuring and distributing your assets and responsibilities to your family members for a prosperous and secure future. The process can be complex and difficult to keep track of the documents you may need to complete your estate plan. Knowing the basics can help you navigate through the process and ensure you have made a comprehensive plan to secure the future of your family. As you start to plan ahead for your beneficiaries, you should consul... Read more

Negotiating the Best Spousal Maintenance Terms

Spousal maintenance or alimony is usually negotiated during the divorce settlement and approved by a judge before it comes into effect. The amount is sought to support an ex-spouse who might use it to cover their medical bills, education, rent, or other monetary commitments after a separation. The calculations and conditions for a spousal maintained amount applied as per the Illinois Marriage and Dissolution of Marriage Act (IMDMA) that govern the ground for both the modification, termination and approval of any agreements. Negotiating and gett... Read more

Ways to Avoid a Foreclosure

Due to financial difficulties and hardships, there may be times when we are unable to pay our mortgage payments on time. Submitting payment past due dates on a regular basis or skipping payments not only leads to additional fees – it can also lead to potential foreclosure. When a foreclosure process starts by a real estate developer or bank, the homeowner will have to forfeit all their property rights. All outstanding debts are paid by a foreclosure auction. If you are facing financial difficulties and wish to understand ways to avoid a p... Read more

Dynamics of Post Decree Divorce Modifications

A divorce decree is considered final because it contains both present and future provisions in relation to a variety of matters. However, due to a substantial change in circumstances, there may be a request from one party to revisit the ruling, resulting in a post-decree modification. The provisions defining a divorce and subsequent allocation of assets and parental responsibility are guided by the Illinois Marriage and Dissolution of Marriage Act. Considering the complications behind post-decree modifications after a divorce decree is signed, ... Read more