Posts By: MICHAEL C CRAVEN

Tax Issues in a High Net Worth Divorce

    In any divorce, the division of the couple’s assets and property is a key part of the dissolution of the marriage. When dividing assets, their tax implications should be considered as a key element of the settlement.     Tax implications need to be considered before entering the property division portion of the divorce process. This is because if the property and assets are not divided taking each piece’s tax benefits and burdens into consideration, one spouse can...   Read more ...  

Comments (0) Permalink

Child Custody Changes Come to the Illinois Marriage and Dissolution of Marriage Act

In 2015, the Illinois Marriage and Dissolution of Marriage Act was amended to acknowledge the realities that parents in today’s world face. One of the most significant changes was the deletion of the terms “custody” and “visitation” to refer to the decision making responsibilities of parents and the time a parent spends with his or her child in the context of divorce. It was replaced with the terms “parental responsibilities” and “parenting time” in an effort to acknowledg...   Read more ...  

Comments (0) Permalink

What You Should Know About Settling a Divorce Before the Trial

When a couple decides to get a divorce, they have a lot of options. Sometimes, the couple has more options than they realize. For example, a couple might begin the divorce process without realizing that they can settle it outside of court, rather than going through the litigation process. Although this option exists, it is not always possible for some couples. The best way for an individual couple to divorce depends on many factors present in their relationship and their goals for life after the...   Read more ...  

Comments (0) Permalink

When is Shared Custody Appropriate?

Shared custody of a child is appropriate in any divorce case where both parents are fit to care for their child and the court determines that a shared custody arrangement is in the child’s best interest. In nearly all cases, it is best for a child to have a consistent, substantial relationship with both of his or her parents. With this in mind, the court does its best to create child custody arrangements that allow for these relationships to develop and flourish. If you are a parent goin...   Read more ...  

Comments (0) Permalink

What If My Ex-spouse Hits The Jackpot?

  While many people assume or anticipate that their legal disputes with their ex-spouse will end after a divorce, the reality is that parties often find themselves continuing to negotiate, or returning to court, sometimes long after the divorce. Co-parents may decide that they need a new parenting arrangement or that the child support is too high or too low. Ex-spouses may want to adjust alimony or spousal support. The impetus for all of these disputes is usually a change in circumstances, ...   Read more ...  

Comments (0) Permalink

The Divorce Process Explained

Going through a divorce can be one of the most stressful experiences that a person can face. A married couple never starts their marriage with the expectation that a divorce awaits in the future, but sadly divorces do happen, and they can become very emotionally taxing.   The institution of marriage is controlled by the laws of our society – there are laws that say who can get married, when they can marry, and a marriage license is required in order to make the union officially recogn...   Read more ...  

Comments (0) Permalink
1 … 44 45 46 47 48 … 66