On behalf of The Walters Law Group, Ltd. posted in Child Custody on Tuesday, November 26, 2013. After being separated for approximately 35 years, a mother and son will be reunited thanks, in part, to the kindness of a stranger. The separation began when the child’s father, who was estranged from the mother, picked the child up at his home in Illinois for what appeared to be a routine visit. According to the mother, the father left the United States with the child and took him to Mexico, ignoring her repeated pleasContinue reading
Tag Archives: Divorce
Social Security benefits and divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, November 18, 2013. Residents of Illinois who are divorced often have questions as to the effect that the dissolution of their marriage will have on their right to receive Social Security benefits. In actuality, a person who has gone through a divorce may be able to collect retirement benefits based upon the work record of his or her ex-spouse, assuming certain conditions are satisfied. At the outset, divorced spouses must be unmarried and at least 62 years old, must haveContinue reading
Don’t let a prenup be invalidated
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, November 13, 2013. Illinois residents with significant wealth or real estate that they wish to protect may ask their betrothed to sign a prenuptial agreement before marriage. A prenuptial agreement can ensure that in the case of a divorce, assets enumerated in the agreement remain in the hands of the person who owned them prior to the marriage. In addition, a premarital agreement can predetermine issues related to spousal support. As such, a premarital agreement can reduce the likelihood ofContinue reading
What high asset couples should consider in a prenuptial agreement
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, November 8, 2013. Chicago-area fans may wish newly engaged Kim Kardashian and Kanye West well on their marriage. At the same time, they may wish the couple to have a prenuptial agreement to protect their interests, especially when it comes to Kardashian’s track record: Her last marriage ended after 72 days. A prenuptial agreement makes good sense for the celebrity couple since both have substantial assets they will bring to the marriage. Kardashian is worth an estimated $40 millionContinue reading
Illinois divorce cases may benefit from testimony of experts
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, October 30, 2013. Divorce proceedings can be complicated and divisive, particularly when it comes to custodial and financial issues. While some separating couples are able to agree on most matters, not every divorce proceeds this smoothly. Experts are therefore often used to help resolve certain conflicts. These professionals can be court-ordered or privately retained, and their opinions are often afforded considerable weight by a judge. Child custody and visitation is often a contentious issue, and a psychological expert can be calledContinue reading
Advance planning can negate some mistakes in divorce proceedings
On behalf of The Walters Law Group, Ltd. posted in Divorce on Tuesday, October 22, 2013. Illinois residents thinking about a divorce should consider asking themselves a few questions ending their marriage. Advance planning can cut down on the mistakes people getting divorced make. For openers, a person should meet with a financial planner to understand their financial picture before property division is started. For example, one spouse may desperately want the house, but if they don’t have the resources to support it following the divorce, there is no reason to fightContinue reading
Tips for unwed dads in Illinois
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, October 18, 2013. As difficult as custody and child support issues can be for a couple when they are getting a divorce, the subject can become even more complex if the parents were never married. This can be especially so for unwed fathers. There are many incorrect assumptions that such fathers often make that can keep them from fully taking advantage of their rights and being aware of their parental obligations. One major misapprehension is that the signing ofContinue reading
To do list for an Illinois divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Monday, October 14, 2013. Divorce can take huge emotional toll on an individual, but it does not have to be a financial burden. Individuals who are in a marriage that isn’t working out might want to take a few simple steps to protect themselves financially. First, individuals going through a divorce need to educate themselves on family finances. If the one spouse has taken the lead on the household finances, it’s important for the other spouse to understand the breakdownContinue reading
Marital infidelity and divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, October 9, 2013. Illinois residents going through a divorce know that there is often bitterness between the parties when a marriage is breaking up. This can be especially true if the decision to file for the divorce is the result of the infidelity of one of the spouses. Whether this behavior will be taken into account during divorce proceedings depends upon the laws of the state in which the divorce is filed. States with no-fault divorce laws generally do not considerContinue reading
Reverse mortgages and divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, October 4, 2013. A relatively new financial planning tool known as a reverse mortgage has recently increased in popularity in Illinois and elsewhere. This type of loan may benefit an older homeowner that is going through a divorce. A reverse mortgage allows individuals who are 62 or older to use the equity in a home to get a loan and receive the proceeds in monthly installments, in a lump sum or through an available line of credit. Principal and interestContinue reading