Perhaps no issue is the source of greater confusion among divorce lawyers than the issue of commingled property and contribution claims. That confusion is compounded by the fact that in practice, judges have differing opinions on when a contribution claim is appropriate and when it isn’t. Thus, outcomes vary greatly…
In just a few short years, cryptocurrency has moved from the fringes of the technology and finance worlds into the mainstream. According to a Pew Research Poll conducted in November 2021: 86% of Americans had heard “at least a little” about cryptocurrencies, 24% claimed to know “a lot” about them,…
When going through a divorce, a marital asset is defined as any asset that a party accrued during the marriage. For example, a husband’s retirement account that accrued during the marriage would be considered marital, while any portion of his retirement account that he accrued prior to the marriage would…
Generally speaking, retirement benefits that are earned during the marriage are considered marital property under the Illinois Marriage and Dissolution of Marriage Act. However, determining the amount of spousal retirement benefits that are marital property is often times a central issue to the division of the marital estate upon divorce.…
It is not uncommon for a spouse to have received an inheritance during the marriage. When people are divorcing, one of the biggest issues is how the court will divide their assets. The first step a court must take when determining how to divide assets in a divorce case is…
When two people get divorced, the court allocates marital property among the parties. Previously, family pets were considered “property” and were allocated as such. The seminal case in Illinois to address issues with family pets was Marriage of Enders, which was decided in 2015. In this case, the parties…
The dictionary definition of “dissipation” is waste by misuse, to spend or use wastefully or extravagantly, to squander, to deplete. The definition contained in the Illinois Marriage and Dissolution of Marriage Act refers to a spouse’s wasting of marital assets during while a marriage is undergoing an irretrievable breakdown. What…
When going through a divorce, one thing parties are tasked with is dividing the marital estate. This involves dividing marital assets, and allocating the responsibility of marital debts as well. Debt that is incurred during the marriage is presumed marital. But what if the debt is for student loans…
Imagine the following scenario: Kim and her boyfriend Kanye decide they want to get married. Kim and Kanye have acquired a lot of money, bling, and swag throughout their years of work in music and promotions. Kim, being the more cautious one, decides that before she and Kanye get married,…
One thing that occasionally complicates a divorce is when a spouse has an ownership interest in a non-marital business. Countless hours of hard work have gone into the business, there are stocks and ownership interests involved, or perhaps one spouse has control over the business and the other has none. …