NBA star and ex-wife reach divorce agreement in Chicago

On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, July 29, 2013. An NBA star and his estranged wife took their contentious divorce to Illinois courts. Their divorce reached a settlement after six years of negotiations between the ex-spouses and their attorneys. The settlement, which has a non-disparage agreement, requires the Miami Heat’s Dwayne Wade to pay $5 million to his former wife, who has contentious statements about the level of support that she has received from Wade. Wade’s attorney noted that Illinois courts dismissed a lawsuit from the ex-wifeContinue reading

Fox legal analyst gives advice on prenuptial agreements

On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, July 26, 2013. As of 2011, Chicago’s divorce rate stood at 7.4 percent for men and 10.2 percent for women. As a result, some residents interested in getting married in the near future — or perhaps those who have been married and are now considering divorce — may be interested in learning more about prenuptial agreements and how they influence family law matters in Illinois. A recent segment on “Fox & Friends” may provide them with valuable insight. While discussing theContinue reading

Recent TV segment highlights prenuptial agreements

On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, July 24, 2013. In a recent “Fox and Friends” television segment, a noted legal analyst stated that two groups of people are considered to be the most likely to avail themselves of pre-nuptial agreements: those who marry for the second time and those who marry later in life. Couples in Illinois and across the country might be interested to know that “prenups,” as they have become known, are considered a good idea. According to the analyst, the most importantContinue reading

Gay or lesbian marriages ending in divorce

On behalf of The Walters Law Group, Ltd. posted in Family Law on Monday, July 22, 2013. For many same-sex couples, being able to enter the civil institution of marriage is a long-awaited blessing. The District of Columbia, in conjunction with 12 other states, has lifted the ban on same-sex marriages resulting in tens of thousands of people obtaining marriage licenses. The transition, however, isn’t always easy. The stigma associated with the traditional roles played in a conventional marriage often don’t apply to same-sex couples. Their relationships are frequently created based onContinue reading

Charlie Sheen seeks to reduce child support for ex-wife

On behalf of The Walters Law Group, Ltd. posted in Child Support on Monday, July 15, 2013. Illinois residents who follow celebrity news may have heard that television star Charlie Sheen has filed a modification request to change the amount of child support that he pays to his ex-wife, Brooke Mueller. According to the actor, he pays Mueller $55,000 in child support monthly even though she has not had their two children in her care since May. Mueller reportedly had their 4-year-old twin boys taken from her care by social workers in early May.Continue reading

Divorced spouses remain liable for mortgage payments

On behalf of The Walters Law Group, Ltd. posted in Divorce on Thursday, July 11, 2013. When a couple files for divorce in Illinois, a common practice that often occurs is for one spouse to sign off on a deed to a house and transfer it to the spouse still living in the home. Although this transfer of property has legally occurred, as far as the mortgage company is concerned, both spouses are still responsible for payment of the mortgage as the lender does not have to remove either spouse’s name fromContinue reading

Alimony laws are changing

On behalf of The Walters Law Group, Ltd. posted in Divorce on Tuesday, July 9, 2013. Illinois residents may be aware that new alimony legislation is being considered in several states. The proposal is centered on lessening the burden of permanent spousal support after separation of divorce. Several states have already adopted the reform, and it includes specific amount of money and length of support for the receiving spouse. The opponents of the new laws argue that the reform may adversely affect many women who may not have any other sources of income,Continue reading

Dividing frequent flyer miles in a divorce settlement

On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, July 5, 2013. For many Chicago couples, arriving at an amicable divorce settlement largely comes down to the division of marital assets. When it comes to assets such as stock portfolios, real estate and art collections, assigning a monetary value is not difficult. Credit card reward program points and frequent flyer miles are harder to negotiate. Some couples may run into questions about these types of programs, making a fair division a potentially contentious issue. These rewards can take years toContinue reading

Getting divorce in Illinois? How to protect assets

On behalf of The Walters Law Group, Ltd. posted in Divorce on Tuesday, July 2, 2013. Whether an Illinois individual has a wealthy spouse or not, it is important to prepare for intense legal battles with a possible spouse-turned-asset-bully. Many high-powered personality types don’t care about the money. They want to win – at all costs. It’s a game to them, and they enjoy playing the game, says a partner with a Los Angeles law firm. That’s why it may be time to make financial preparations when an individual knows that a divorce isContinue reading