Archive, June 2015.
Division of Property upon Divorce: The Impact of a Trust
The division of marital assets is one of the most important and complex steps in the divorce process. Parties must first determine what the marital assets are and the value of them. Under certain circumstances, property that is part of a trust may be protected from inclusion as marital property. Therefore, it is important for both grantors and beneficiaries of trusts to understand when property in a trust may or may not become part of the division of marital property.Trust Property Under Illinois law, property acquired as a gift or inheritance and kept separate is generally protected from …
Post-Divorce Modification and Illinois Law
Upon completing the divorce process, it is very likely that one's circumstances will change at some point in the future. This is particularly true if a couple divorces at an earlier stage in life. If the changes are significant, upon notice and motion, it is likely that a court will order a modification of maintenance and/or child support awards.
Maintenance in Illinois Divorce Cases
Upon divorce in Illinois, it is possible that one spouse may be awarded, and the other spouse ordered to pay, maintenance. Maintenance is support for one spouse from the resources of the other spouse. The issue of whether, and in what amount, maintenance may be awarded is often a critical issue for divorcing couples.