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
Tag Archives: alimony
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
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
More Illinois women are paying alimony
On behalf of The Walters Law Group, Ltd. posted in Family Law on Saturday, May 25, 2013. With the growing trend of women earning more income than their husbands, more women are being ordered to pay spousal support to their husbands in divorce cases. Alimony was once a means of providing economic and legal recognition for women, who mostly stayed out of the workforce. This allowed them to take care of the duties of running the household. In the event of a divorce, alimony acknowledged that the wife had sacrificed her earning powerContinue reading
Should abusers receive spousal support?
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, August 31, 2012. Legislators in one state recently passed a new bill that prohibits spousal abuse victims from being forced to pay alimony to their abuser. Those marital partners who were abused would no longer face making spousal support payments to convicted abusers under the new regulation. Many Chicago victims of spousal abuse would likely hope that similar legal protection be provided to all in the future. A 39-year-old California successful financial planner and mother of two children wasContinue reading