On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, February 7, 2014. Illinois residents may be interested in how to prove that their former spouse is cohabiting with a new partner. In most divorces, the payment of alimony is dependent on the receiving spouse remaining single. Therefore, spouses who receive alimony are reluctant to disclose a cohabiting relationship because it could bring an end to the spousal support. Paying spouses, on the other hand, would often prefer for a cohabiting relationship to be disclosed as early as possible.Continue reading
Tag Archives: alimony
What to know about liens and divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Sunday, January 19, 2014. Sometimes, when someone fails to pay debts, a lien is placed on a home to establish it as collateral as the debt collection is attempted. Chicago divorcees may be interested in the case of a woman who asked a debt advisor about removing a lien on the home she had previously shared with her ex-husband. The lien was placed because the woman’s ex-husband was behind in child support and alimony payments to his previous wife, andContinue reading
Woman still required to repay alimony after bankruptcy
On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, December 23, 2013. Illinois residents may be interested in a recent ruling made by the United States Court of Appeals for the Tenth Circuit on Dec. 9. According to the ruling, after filing for Chapter 7 bankruptcy, a woman who received alimony payments beyond the terms ordered by the court still has to return the funds to her ex-husband. A report says that the couple was married in 1988 and filed for divorce in 2005. After the separation, the man wasContinue reading
The Affordable Care Act and divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, September 27, 2013. The Affordable Care Act may make it easier for couples in Illinois to decide whether to stay in their marriage or get divorced. Health insurance is often a major factor for adults over 50 years of age. The 115,000 women who lose their private health coverage due to divorce every year would not have to worry about their eligibility after divorce as a result of the ACA. Older women who are not employed or do notContinue reading
Stocks may be sold in Illinois to help pay for divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, September 20, 2013. Is there ever a good time to sell major stocks? Individuals who are in the midst of an expensive divorce may want to consider doing so as did the CEO of Best Buy who sold over $10 million of his company’s stock to pay for divorce proceedings. Such large sales of major stocks often raise eyebrows because they could be signs of insider trading. The Best Buy CEO has been credited with turning around the electronics retailer. TheContinue reading
Man in reduced circumstances jailed for missing alimony
On behalf of The Walters Law Group, Ltd. posted in Family Law on Tuesday, September 17, 2013. A family court judge has ordered that an ex-husband mired in financial difficulties remain confined to a work-release program where he must spend his nights and weekends in jail. In order to secure his release, the man must pay a lump sum of $25,000 toward more than $233,000 of spousal support that he owes his former wife. Jailed at least eight times in the past two years for missing child support payments, the man formerly worked asContinue reading
Financial planning can assuage common divorce fears
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, September 6, 2013. Illinois residents weighing the prospect of divorce might harbor reservations about doing so because of fears that they have about what will happen after the process is over with. This is especially true for the spouse who is considered the “out spouse,” or the one who lacks a working relationship with a financial advisor or attorney and is not involved in household finances, including bill-paying and investments. The “in spouse,” on the other hand, has aContinue reading
Post-divorce financial planning
On behalf of The Walters Law Group, Ltd. posted in Family Law on Thursday, August 8, 2013. Alimony in Illinois is a legal obligation to support a spouse financially at regular intervals before or after marital separation or divorce. Such support can be important to divorced individuals who were not employed during their marriages and have limited prospects for substantial income, but alimony may not last forever or even for long, so former spouses reliant on alimony payments to pay necessary expenses should plan to adjust their budgets accordingly. Some family lawContinue 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
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