Category Archives: Divorce Law

How the tax overhaul will affect spousal support deductions

The new tax overhaul will remove a 75-year-old tax deduction for alimony payments. The new rule will not affect anyone who divorces prior to 2019; however, it will certainly change divorce negotiations. What’s changing? Currently, the spouse paying alimony can deduct it from their taxes and the spouse receiving the alimony pays taxes on it. The idea is that the payer is generally in a higher tax bracket. Thus, with the alimony deduction, they are paying less tax. The payee is generally in a lower tax bracket, and pays less tax on the income received. The current setup preserves more money amongst the ex-spouses. The new rules will result in alimony recipients receiving 10-15% less than what they would receive under the current law, and more money to be paid in taxes. For more information on the consequences of the tax changes, contact SMDA, PC at (586) 264-3756... To continue reading this legal news please click Read full information...

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Illinois Divorce Lawyer: Good Questions to Ask a Lawyer in an Initial Consultation

One of the pleasures of my practice in managing only Family Law cases (primarily divorce and child custody cases, and post decree problems with financial and child related issues such a modifications to custody or support orders) is the opportunity to meet with some really fine, caring, and interesting people, and help them navigate through their family issues, develop strategies that work, and to offer some effective approaches to their complex issues, based on years of my experience in this work managing complex divorce and post-decree cases successfully. What are some good questions to ask during an initial consultation?  My approach is to take time in these first meetings, to listen carefully, and to provide solid recommendations that are both effective and potentially game-changing, along with cost effective approaches so that my clients are not affected by high legal costs. Being highly effective, and cost-effective, is a longstanding hallmark of my approach.….. To continue reading this legal news please click Read full information...

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Uncontested Divorce : Top Tips & Concepts

While an uncontested divorce in Illinois can be fast and affordable (for a flat fee), there are still some things to know. As an uncontested divorce lawyer, I put together this list of my Top 5 Articles about uncontested divorce in Illinois. They cover topics such as dividing assets, splitting retirement, and the process for an uncontested divorce Starting an uncontested divorce People are very interested in figuring out how to start an uncontested divorce in Illinois. The truth is, starting it is the easiest part. But to satisfy some curiosity, I wrote this article about starting an uncontested divorce in Illinois. It should give a decent idea of what’s involved. But if you focus too much on starting the divorce, you’ll miss what’s more important about the process. Splitting Retirement Splitting retirement accounts can be an important part of a divorce. Certain types of accounts – like pensions, 401ks, and deferred compensation – require very….. To continue reading this legal news please click Read full information...

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Avoiding Financial Pitfalls in a Divorce

There are some common things that a person may be advised not to do when it comes to a divorce. For example, people are encouraged not to post too much information about the divorce on social media, not to make major decisions about the divorce based on emotion, and to avoid financial pitfalls stemming from the divorce. Financial pitfalls are easy to miss in many cases because there is so much going on in the divorce that the spouses may not be thinking of the bigger picture. In a divorce, the spouses routinely exchange financial disclosure information. This information is supposed to aid in the spousal division of property. The first mistake in a divorce would be to provide inaccurate financial information. Trying to hide assets is not a good idea because of the actions the court may take to punish the spouse for hiding the assets. However, providing inaccurate information on expenses can be just as detrimental. A spouse who undervalues his or her expenses could end up with….. To continue reading this legal news please click Read full information...

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Parenting and the Right of First Refusal

Parenting can be tough when you are undergoing a divorce as well as it is after a divorce. As a parent, you would want to be in a good co-parenting relationship with your ex-spouse once the divorce is finalized. You are probably aware that the toughest elements of the divorce are being felt by your child the most. Your child might understand more than what he or she lets on. It is your responsibility to deal with issues with your spouse so you can both be good parents to your child despite the divorce.   Right of First Refusal   When you are finalizing your divorce, you are probably negotiating with your soon-to-be-ex-spouse about many things concerning your family, especially child support and custody issues. You need to be aware that whatever you agree to during this period will be used as the standard of how you get on with your lives after the divorce. When the orders about your children in your Final Decree rolls out, you must know that this will be what you….. To continue reading this legal news please click Read full information...

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