If the spouse that is uninvolved in the businesses feels fairly confident that the financial information that’s being represented in the tax returns is accurate, there is certainly no reason not to file a joint return. Filing jointly is more financially beneficial than filing separate, which is the only other filing status available to married […]
Financial Issues
What advice would you give to people who are concerned about getting their fair share?
Fair share is a loose term that has no real definition outside of what an individual believes that definition should be. Sometimes, your fair share is not necessarily monetary or the percentage that you think it should be – but it could be less because the totality of the circumstances calls for that. For instance, […]
Is it true that going to court is the only way to ensure you’ll get your fair share?
When seeking a modification, does each spouse pay their own attorney fees?
This is one of the biggest risks of bringing these types of cases. A judge does not have to modify or terminate spousal support. It’s a case-by-case decision, it’s up to the judge’s discretion. The biggest thing that you have to lose by bringing forward one of these cases is a) their own attorney fees, […]
How can someone protect their credit rating as they go through divorce?
My spouse and I own a number of businesses. What should I do to get my fair share during divorce?
Chuck Roberts is family lawyer at Momkus McCluskey Roberts, LLC, one of the largest law firms in DuPage County, Illinois.
What are the most common financial mistakes that people make in a divorce?
If the spouse receiving spousal support gets a job, could their support be decreased or even eliminated?
Oftentimes when a spouse is paying spousal support, it is planned that the spouse receiving support will go back to work. That’s something that’s usually foreseen, that everyone expected. Just the fact that she got a job or is making some decent money, that typically was expected. It’s when that person gets the really great […]
If the payor spouse retires but then decides to work part-time, would the new job be a reason to modify spousal support?
There’s always that question: are you really retiring or are you going to be doing something else that’s less stressful or working part-time? That will be something that’s taken into consideration. If there’s still some sort of award of spousal support, the spouse could come back later and say he was going to retire fully […]
If a high-wage earner’s income plummets before divorce, would that affect spousal or child support?
It could. If the income plummets only the year before the divorce, we would obviously look at that to determine why it plummeted, to see if there was some divorce planning being utilized on the part of that spouse. If we assume, for argument sake, that the loss or the drop in income was not […]
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