Financial Issues When Divorcing

//Financial Issues When Divorcing

WHAT IS AT STAKE TO GET THE OTHER SIDE TO PAY YOUR ATTORNEY FEES?

Husband appealed the court's allocation of property and debt.  A divorce decree was entered. It was husband’s job in court to prove that his 401k, ESOP, or stock options had a nonmarital value.  It was not wife’s job to do that.  The Court did not find that husband proved that his valuable assets were his [...]

By | June 22nd, 2018|Divorce FAQS, Financial Issues When Divorcing|0 Comments

BE CAREFUL WHEN YOU ARE BEING TOO CAREFUL

Wife filed a motion to enforce or clarify the marital settlement agreement (MSA). The MSA was part of their judgment of dissolution. The Trial Court properly granted husband's motion to dismiss.  Wife appealed. The Judgment of dissolution had included an express integration clause.   It stated their intent to bind themselves to their written agreement.  It [...]

By | May 31st, 2018|Divorce, Financial Issues When Divorcing|0 Comments

CAN YOUR PARENT BE SUED FOR YOUR LEGAL FEES?

An attorney entered into a written agreement with Jason.  Attorney agreed to represent Jason in a divorce. Jason agreed to pay the attorney $375 per hour for his services with an initial retainer of $5000. At the time they made the agreement, Jason told the attorney in writing that all billing should be sent to [...]

WHEN DOES AN IRRETRIEVABLE BREAKDOWN OF THE MARRIAGE HAPPEN?

  Trial court e-ntered a Judgement of Divorce.  Wife appealed various issues. One of them was dissipation.  The Trial Court found no dissipation. Wife argued that the trial court’s judgment failed to account for millions in “missing funds.”  She contends that $6,429,000 is “missing” from the Gift Trust.  She argued that Husband failed to provide [...]

WHAT DOES IT MEAN TO RESERVE CONTRIBUTION TO EXPENSES?

The issue was college education.  The parties had four children. The parties’ judgment for dissolution of marriage did not order a specific dollar amount or percentage to be paid by either party.  It left the amount to be determined at a later date. The Judgment required Husband to maintain accounts for each child’s college or [...]

By | April 13th, 2018|Child Support, Financial Issues When Divorcing|0 Comments

ENFORCING AN ORDER VERSUS CHANGING AN ORDER

Husband and Wife divorced in Michigan.   Wife received 25% of Husband’s military pension.   Wife moved to Illinois.  She petitioned to register the Michigan Judgment in Illinois.  Husband did not appear in the Illinois court. An order was entered in Illinois dividing Husband’s military pension to give Wife her fair share.  It modified the original order. [...]

By | March 23rd, 2018|Financial Issues When Divorcing, Uncategorized|0 Comments

WHEN ARE DISABILITY BENEFITS EQUAL TO RETIREMENT BENEFITS?

The parties were divorced.  Afterwards, husband was injured at his job.  He began receiving disability benefit.  He was eligible to receive retirement benefits at that time. Wife filed a petition to receive half of the disability benefits.  She was entitled to one half of his retirement plan under the judgment. Husband was eligible to retire [...]

By | March 16th, 2018|Financial Issues When Divorcing, Uncategorized|0 Comments

SOCIAL SECURITY BENEFITS ARE NOT DIVIDED IN DIVORCE COURT

Parties are divorcing.  Wife works in the private sector and has Social Security withheld from her pay.  Husband is an officer with the city police department.  He contributes to the police pension fund. He does not have Social Security tax withheld from his pay. Husband can retire at age 50 with full pension benefits.   Wife [...]

THE COURT IS NOT GOING TO DO YOUR WORK FOR YOU

  Parties prepared for their divorce trial. The parties had plenty of time during pretrial discovery and during trial.  They could have presented evidence of the value of the house and the two businesses.  Therefore, the trial court was not able to value certain properties. Husband argued that the two businesses were his sole property. [...]

THINK ABOUT YOUR ARGUMENT BEFORE YOU MAKE IT

Dissolution judgment was final and enforceable at the time husband died.  Wife wanted to get her share of the pension through a QDRO. The trial court said that it had lost jurisdiction when husband died. The court said that it had no power to issue an order for a QDRO for wife.  A Qualified Domestic [...]

By | November 17th, 2017|Financial Issues When Divorcing, Post-Decree Issues|0 Comments