Financial Issues When Divorcing

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WIFE’S EMERGENCY MOTION FOR AN INJUNCTION DENIED

In a divorce proceeding, wife filed an emergency motion for injunctive relief. She alleged that husband secretly amended his revocable trust to remove her as successor trustee and beneficiary. A few months before he filed a divorce petition. Wife alleged that this trust had been part of the parties’ agreed estate plan and contained substantial [...]

By |2020-09-24T17:31:46+00:00September 24th, 2020|Financial Issues When Divorcing|0 Comments

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 |2019-10-31T19:18:53+00:00October 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 [...]

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 |2019-06-10T16:38:07+00:00June 10th, 2019|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 |2019-05-15T16:56:07+00:00May 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 [...]

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 [...]

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