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630-575-8585

2015 Spring Road, Oak Brook, IL 60523

Top Chicago Area Divorce Lawyers

Burr Ridge divorce attorney child support

Child support is an important source of financial support for divorced and unmarried parents. It can also be significant financial responsibility on the part of the paying parent or “obligor.” If you have a high income and are planning to divorce, you may have questions about how your financial status may affect your child support order. Illinois uses the “Income Shares” model to determine child support. The amount an obligor pays in child support is mostly based on the discrepancy between the two parents’ net incomes, but other factors may also play a role in child support calculations.  

Statutory Guidelines for Child Support Payments

Considerable modifications and updates to the Illinois Marriage and Dissolution of Marriage Act (IMDMA) went into effect in 2017. Child support payments in Illinois used to be based solely on the obligor parent’s income and the number of children requiring support. Illinois now uses a child support calculation method that takes both parents’ net incomes into account. The parent with the majority of parenting time, previously called the custodial parent, receives child support while the parent with less parenting time is the payor. Child support payment amounts based on statutory guidelines are determined by the following main steps:

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Oak Brook divorce attorney dissipation of assets

It is no secret that money is the source of countless marital arguments. Many married couples fight about finances because one of the spouses made purchases or accumulated debt without the other spouse’s knowledge. Spouses may also hide assets or income from the other spouse. If you and your spouse are considering divorce, and there has been a history of financial deception in your marriage, you should be aware of the ways that this may impact your divorce.

Almost Half of All Married Couples Admit to Hiding Debt

Most people would agree that honesty is a critical component of a healthy marriage. However, a surprising number of married spouses have admitted to being dishonest when it comes to money. Approximately 41 percent of adults admit to hiding bank accounts, spending habits, or debts from their partners. This so-called “financial infidelity” or deceitful behavior can lead to dramatic consequences, including the end of the marriage entirely.

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Oak Brook divorce lawyer parental relocation

Dividing the time you and your ex-spouse spend with your child can prove difficult after your divorce. So, the thought of spending even less time with your child can be gut-wrenching. If your child’s other parent wishes to move a significant distance away, you may worry about how this will affect your parenting time arrangement. You may wonder if there is anything you can do to ensure that you will still get adequate time with your son or daughter or if you can prevent the relocation entirely. An experienced attorney can explain the laws regarding parental relocation and how it applies to your situation. 

Defining “Relocation” With Regard to Illinois Law

One of the updates to the Illinois Marriage and Dissolution of Marriage Act (IMDMA) that went into effect in 2016 specifically addressed the rules regarding parental relocations. Special rules apply when a parent with the majority of the parenting time or equal parenting time relocates to a location that is:

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Cook County divorce attorney

When a couple decides to divorce, issues such as the division of marital assets and debts and the allocation of parental responsibilities and parenting time must be resolved. Some couples are able to reach a settlement agreement about the terms of their divorce through negotiations or alternative resolution methods such as mediation and collaborative divorce. Others, however, cannot reach a solution that both spouses agree to. If a divorcing couple cannot reach an agreement about one or more of the relevant divorce issues, the case may go to trial.

The Fact Gathering Phase

The “discovery” phase occurs prior to the divorce trial. During discovery, each party and his or her respective attorney will gather information about the unresolved divorce issues. Several methods may be used to gather financial data and other relevant information, including:

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Oak Brook divorce attorney hidden assets

When we hear the word “addiction,” most of us assume the addiction is a substance abuse problem. However, many people suffer from addictions that are not related to drugs and alcohol in any way. A shopping addiction, also called compulsive shopping or compulsive buying, can be a major problem that has significant implications on a person’s life as well as the lives of family members. If your spouse is a compulsive shopper or simply spends too much money on unneeded items, you may have concerns about how this excessive spending will influence your divorce.

Protecting Your Financial Future

Most individuals with a shopping addiction are not simply greedy or consumeristic. Many use shopping as a means of coping with low self-esteem, depression, anxiety, or other personal struggles. Although their excessive spending may not be malicious, it can have devastating effects on a couple’s finances. If you are planning to divorce your spouse and he or she has a problem with overspending, there are several steps that may help you protect your financial future:

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Botti Marinaccio, LTD.

630-575-8585

2015 Spring Road, Oak Brook, IL 60523

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