Financial Issues When Divorcing

//Financial Issues When Divorcing

DEBT IS NOT TO BE TREATED AS A CREDIT FOR FATHER’S CHILD SUPPORT OBLIGATIONS

The Marital settlement agreement (MSA) provided that husband owed wife a child support arrearage in the amount of $79,301.44.  He would repay that debt by reimbursing each of the 3 children's section 529 plans accordingly.    The parties  would jointly bear the children's higher education expenses.  The MSA did not provide that husband's repayment of the [...]

By | October 31st, 2019|Financial Issues When Divorcing|0 Comments

RETIREMENT AND DISABILITY BENEFITS

After court entered judgment of dissolution.  Husband died.  Then, wife (Jodi) filed 3rd-party complaint against Mary.  Mary was husband's wife at the time of his death.  Jodi alleged that Mary was unjustly enriched because she was receiving a pension as surviving spouse of a disabled firefighter under Section 4-114 of Pension Code. The Trial Court [...]

SO, YOU HAVE EVIDENCE TO PROVE THESE ARE LOANS?

Husband incorporated JDS Homes, a construction business.  In 2006, JDS Homes purchased a parcel of land in Burr Ridge known as the Crosscreek Subdivision. The land was divided into 10 separate lots. With the exception of Lot 7, all of the lots were developed and sold. In 2012, respondent incorporated JDS Home Builders. Lot 7 [...]

By | September 17th, 2019|Financial Issues When Divorcing|0 Comments

PERMISSIVE MILITARY SERVICE CREDITS PURCHASED DURING THE MARRIAGE

The Trial Court found that ex-husband had to reimburse ex-wife for her marital share of funds used to purchase the enhancement. Ex-wife appealed.  She argued that the permissive military service credit was marital property since the enhancement had been purchased with marital funds. The Appellate Court reversed the Trial Court. It found that the permissive [...]

By | June 10th, 2019|Financial Issues When Divorcing|0 Comments

TAKE ACTION IN THE RIGHT WAY

Woman was in a divorce case.  She filed a breach of contract complaint against two sets of her attorneys. She alleged excessive fees against them.  The attorneys had originally filed fee petitions under Section 508 of the Dissolution of Marriage Act.   The case was not over at the time.  So, the court reserved its ruling [...]

By | June 10th, 2019|Divorce, Financial Issues When Divorcing|0 Comments

YOU ARE NOT THE LEGAL BENEFICIARY

Bruce and Linda were married. Bruce purchased two life insurance policies and an annuity from New York Life, and the Equitable Annuity. At the time Bruce purchased the policies, the beneficiaries of the policies were Linda and their children. Later, Linda filed a dissolution action against Bruce. By agreement of both Bruce and Linda, the [...]

By | May 15th, 2019|Financial Issues When Divorcing|0 Comments

EMPLOYERS MUST PAY OUT WHEN THEY ARE SERVED WITH A WITHHOLDING ORDER

The trial court entered a judgment of dissolution of marriage.   Husband was ordered to pay $370 per month in maintenance to wife when their farmland sells. An auction was held that same month.   The sale did not take place yet. Wife filed a wage garnishment against husband’s employer.  The employer did not pay out to [...]

IS IT CIVIL OR CRIMINAL CONTEMPT?

The trial court entered a judgment of dissolution.  A few days before trial, wife’s attorney was allowed to withdraw from representing her.  On the same date that the attorney had filed the motion to withdraw. Wife was awarded a condo owned by the parties. Wife was required to pay all expenses associated with the condo.  [...]

By | April 19th, 2019|Financial Issues When Divorcing, Uncategorized|0 Comments

WAS HE LYING THEN, OR IS HE LYING NOW?

In a divorce case, there was a disputed $1,551,616.48 Fidelity account. At one time, this account contained husband's premarital fund.  It was a joint account between the parties. Later, husband transferred the account solely to wife. Husband testified he transferred the account to wife to protect the account from two malpractice actions that were then [...]

WHO SHOULD RUN THE BUSINESS?

Husband filed a motion for a preliminary injunction against wife.  He had filed divorce proceedings.  He wanted the court to stop her from participation in the operation of their family-owned tavern. The trial court granted his request.  The wife appealed. The Appellate Court agreed with the trial court.  Wife had been employed as a bartender [...]