By Paul Chatzky | Published July 15, 2020 | Posted in Divorce | Tagged Tags: child support, hiding assets, marital assets, spousal support | Comments Off on Six Common Ways Spouses Try to Hide Assets During Divorce
We would all like to believe that our soon-to-be ex-spouses, for all their faults, will be honest during divorce, but that is often not the case, especially where money is involved. After all, dishonesty in one form or another might be the reason your marriage is ending. As you head into the divorce process, be Read More
Read MoreFor most couples, the marital home is their largest and most valuable asset. Beyond your home’s monetary value, it is the center of family life, a place where kids were raised and special occasions were celebrated. When a couple gets divorced, what happens to the house they once shared is a concern for both parties, Read More
Read MoreOn behalf of Law Offices of Paul Chatzky With so many American residents stuck at home with their families, prognosticators have predicted that several months down the road, the country could experience a baby boom and a divorce deluge. Unlike a cozy blizzard that keeps you home from work for a few days, a global Read More
Read MoreOn behalf of Law Offices of Paul Chatzky Throughout the United States, the COVID-19 pandemic has changed our daily routine in ways that none of us could have ever imagined. Like everyone else, spouses who are already experiencing the turmoil associated with divorce have been forced to deal with additional challenges. Despite the obstacles, it Read More
Read MoreProperty division is often one of the most contentious issues in divorce, after child custody. The property that was part of your married life is more than just “stuff.” Most people have emotional attachments to these items and things to consider beyond pure monetary value. Even so, the value is still important, because both parties Read More
Read MoreGoing through a divorce is stressful enough, but the coronavirus pandemic spreading throughout the United States presents additional complications for spouses who have decided to split. In addition to changes that might need to be made regarding custody and visitation arrangements while travel is restricted, negotiations over property division need to address any new economic Read More
Read MoreDuring a crisis such as the COVID-19 pandemic, family becomes more important than ever, especially for children whose schedules have been disrupted by long-term school closures and the cancellation of other activities. Parents who are divorced or live apart for other reasons know the importance of maintaining healthy communication through difficult situations. Though this situation Read More
Read MoreThe federal Tax Cuts and Jobs Act of 2017 eliminated the tax deduction for people paying spousal maintenance, or alimony, while exempting recipients from having to include those payments as taxable income. Many states, including Illinois, reacted to this substantial change by passing revised spousal maintenance legislation. The revised Illinois law made a number of Read More
Read MoreAt a time in history when half of all American marriages end in divorce, it makes perfect sense to develop procedures for peaceful and respectful marital dissolution. Divorce mediation and collaborative divorce share the goal of creating an effective process for decision-making that is less fraught with animosity and argument than traditional courtroom litigation. If Read More
Read MoreWhen a couple gets divorced in Illinois, the partners must divide both their assets and debts between them. Even if a couple has a well-executed premarital agreement addressing the disposition of separate and marital assets, they may not have had the foresight to also divide any potential debt. If the process is left to the Read More
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