Tag Archives: Kane County divorce attorney

How Bonuses, Commissions, and Stock Options Are Treated During DivorceThe income you earned before you filed for divorce is considered marital property, which is part of the division of property. Your income after your divorce is used to calculate child support and spousal maintenance but is otherwise yours to keep. The structure of your pay has little consequence on your divorce if you receive a straightforward salary or hourly wages. With other forms of compensation, the timing of your divorce could determine whether your spouse can claim a portion of that income:

  1. Bonuses: In most cases, a work bonus qualifies as marital property if you received it before you filed for divorce. You must make sure that your spouse does not double count the bonus by claiming it as marital property and including it as part of your income when calculating support. An exception may be a bonus with a clawback provision, which states that you must return the bonus if you are no longer with your employer before a set date. You could argue that you should not include the bonus in the division of property because you could lose it. If it is part of the division of property, you should include a section in your agreement stating that your spouse must repay their share of the bonus if you are forced to return it for reasons beyond your control.
  2. Commissions: Some employees receive a commission for work completed in place of or in addition to their salary. If you know that commission pay is coming, you can try to file for divorce in advance so that it is not marital property. However, your spouse may argue that the commission is marital property because you completed the work related to the commission while you were still married. If you cannot agree with your spouse, a divorce court will need to decide whether the commission is marital property.
  3. Stock Options: Illinois divorce law states that stock options that you receive during your marriage are assumed to be marital property, regardless of whether they are vested or if you know their actual value at the time of the divorce. A divorce agreement can set a provision that you will pay your spouse a share of these stocks when you exercise your option on them. Stock options are not marital property if they were a gift or part of an inheritance, which does not apply to stock options you received through work.

Contact a St. Charles Divorce Attorney

Much of your negotiating during divorce will focus on identifying your marital properties, determining their value, and dividing them between you and your spouse. A Kane County divorce lawyer at Goostree Law Group can ensure that your division of property is accurate and meets your needs. To schedule a free consultation, call 630-584-4800.

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Child Support Variables That You Will DecideDivorcing parents in Illinois do not negotiate child support payments in the same way they may negotiate spousal maintenance. With spousal maintenance, you may need to decide whether payments are necessary and how long they should last. With child support, those issues are predetermined. Child support is mandatory and will last until all of your children have turned 18 or graduated from high school. The formula for calculating child support is also set because the income shares table will tell you the base child support obligation that you share. However, there are still factors regarding child support that you can control.

Establishing Your Income

When calculating child support payments, parents may disagree on their respective incomes. Your income level affects the total child support obligation between the two of you and how much of that obligation you will pay. You need to accurately report your income while making sure that your spouse is not underreporting their income. Your spouse may accuse you of misrepresenting your income. If you cannot agree on each other’s incomes, a divorce court will examine your case and decide for you.

Division of Parenting Time

The child support formula changes if you have what Illinois classifies as a shared parenting arrangement, which is each parent having at least 146 nights with the children. This is a 60-40 division of parenting time. The revised formula increases the overall child support obligation but expects both parents to pay for most of their own child-related expenses. As a result, the child support payments between parents are less than with parents who do not meet the requirements for a shared parenting arrangement.

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Avoiding an Addiction Relapse During Your DivorceAddiction comes in many forms, whether it involves alcohol, drugs, sex or other excessive behavior. People dealing with addiction can become abusive towards the ones they love and betray their trust. It is commendable if you have recovered from an addiction, but your spouse does not have to forgive you for your past actions. You may end up divorcing despite your efforts to improve yourself. While this may be a devastating turn of events, you cannot let yourself relapse into your addiction.

Addiction and Divorce

Your marriage and your family may have been your primary motivations during your recovery. You want to be someone that your spouse and children can rely on, and that idea gave you the strength to seek help and change yourself. The divorce takes away your spouse as a pillar of support. It is also possible that the divorce court will view your history of addiction as a potential danger to your children, which could affect the allocation of parental responsibilities. Divorce is a stressful and sometimes frightening process for anyone. You may be tempted to return to your addiction because it feels comfortable and will take your mind off your anxiety. A relapse would be disastrous for yourself and your divorce. It would likely limit your parenting time with your children and distract you from what you need to accomplish in your divorce.

Preventing Relapse

You should realize the risk of relapse during your divorce and take steps to protect your health:

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How to Determine Whether an Inheritance Is a Marital Property in DivorceMost properties that you obtain during your marriage are classified as marital properties in the event of a divorce, such as items you have purchased and the income you have earned. Gifts and inheritances are the exceptions to this rule. Inheritances are assets given to you through an estate planning document, such as a trust or will, or after the probate process. Even if you inherit an asset while you are married, it is usually a nonmarital property as long as you can prove that the person who gave it to you intended for you to be the sole owner of the property. However, your decision on what to do with a property after you inherit it can make it marital property.

Commingling and Transmuting

An inherited property can become marital property if you commingle it with other marital properties or involve your spouse in its ownership or management. For instance:

  • Inherited money becomes marital property if you put it into a joint account with other marital money; or
  • Inherited real estate becomes marital property if you refinance the property and your spouse cosigns on the agreement.

In these situations, your inherited properties are either transmuted into marital properties through your actions or become indistinguishable from your martial properties because they are commingled. As marital property, your inheritance could be divided between you and your divorcing spouse or given to you in exchange for other marital properties. As nonmarital property, your inheritance would not count towards the equitable division of property.

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How Apps Can Help You with Co-ParentingWith the popularity of smartphone applications, it is no surprise that there are several apps related to divorce. Among these, co-parenting apps seem to be the most common. There are apps that help you create a parenting schedule, communicate with your co-parent and even make child support payments. Many apps will require you to pay a subscription fee to use their most advanced tools, and you should thoroughly research an app before you decide to rely on it for your co-parenting needs. There are several ways that a co-parenting app can be useful to a modern, two-household family:

  1. Organization: Most co-parenting apps have a shared calendar feature. You could also use a basic calendar application that will not require any fees. A calendar app records your parenting schedule and can give automated reminders about when you are supposed to pick up and drop off your children. More advanced apps allow you to track and share child-related expenses, which is a helpful record when calculating child support payments.
  2. Communication with Your Co-Parent: For some people, talking to their co-parent through an app is less stressful than a phone call. Some apps are designed to help co-parents communicate with each other in an organized setting. A message through an app is less intrusive than a text message and easier to notice than an email. You may not be expecting an email from your co-parent but will know to check the app for messages. Some apps scan your messages for emotionally charged language and warn you before you send the message.
  3. Communication with Children: Your children need to know when they are scheduled to be with each parent, as well as have a safe forum to communicate with their parents. You may need to tell your child that you are running a little late, or your child may need to tell you about a change in their school or social schedule. You can communicate with your children through normal texting and phone calls, but using an app can help you both stay organized. An app also helps you separate your messages to them about your parenting schedule from messages that are purely social.

Contact a Kane County Divorce Lawyer

Apps can be useful tools during and after a divorce but are not a replacement for an experienced divorce lawyer. A St. Charles, Illinois, divorce attorney at Goostree Law Group can help you create your parenting plan and advise you when changes are necessary. Schedule a free consultation by calling 630-584-4800.

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Goostree Law Group

Goostree Law Group

 555 S. Randall Road, Suite 200
St. Charles, IL 60174

 630-584-4800

 1770 Park Street, Suite 205
Naperville IL 60563

 630-364-4046

 400 S. County Farm Road, Suite 300
Wheaton, IL 60187

 630-407-1777

Our Illinois divorce attorneys represent clients in Kane County, DuPage County, Kendall County and DeKalb County, including Geneva, Batavia, St.Charles, Wayne, Wasco, Elburn, Virgil, Lily Lake, Aurora, North Aurora, Elgin, South Elgin, Bartlett, Crystal Lake, Gilberts, Millcreek, Maple Park, Kaneville, LaFox, Yorkville, Oswego, Plano, Sugar Grove, Big Rock, Bristol, Newark, DeKalb, Sycamore, Naperville, Wheaton, West Chicago, Winfield, Warrenville, Downers Grove, Lombard, Oak Brook, Streamwood, Hoffman Estates, Barrington, South Barrington, Lake Barrington, Schaumburg, Big Grove, Boulder Hill, Bristol, Joliet, Kendall, Lisbon, Minooka, Montgomery, Plainfield, Sandwich, Yorkville and many other cities.

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