Posted on December 08, 2021 in Divorce

When you choose to get a divorce, there are many complex financial issues that you will need to address. Making the right decisions as you plan to end your marriage and proceed with the divorce process will ensure that you will have the financial resources you need as you move forward into the next phase of your life. When addressing financial matters, tax considerations are one of the key issues that you will need to address. By understanding how the decisions you make during your divorce will affect the taxes you owe and the deductions and credits you can claim, you will be able to avoid unexpected surprises and maintain financial stability in the future.

At the law firm of Weiss-Kunz & Oliver, LLC, we work closely with our clients to help them gain a complete understanding of the financial issues that will play a role in their divorce. We regularly represent clients in high net worth divorce cases, and we are familiar with the complex tax considerations that can arise when addressing ownership of property, support payments, transfers of money or property between spouses, selling real estate or other property during divorce, and other financial issues. We work to help our clients make the right decisions that will protect their financial interests throughout the divorce process and beyond.

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 Posted on November 30, 2021 in Divorce

Over the past decade, the LGBTQ+ community has experienced significant benefits as state and federal laws have recognized their rights. Since 2015, same-sex couples have been able to be legally married in every state in the U.S., and this has not only allowed them to establish long-term relationships, but it has also provided them with the benefits and legal protections that come with marriage. While LGBTQ couples now have the same rights as opposite-sex couples, they may need to address some unique legal issues prior to getting married, during their marriage, and in the event of a breakup or divorce. To protect their rights and interests, couples may want to consult with an attorney to address matters related to same-sex marriage and divorce.

At Weiss-Kunz & Oliver, LLC, we believe in protecting the rights of our clients, regardless of their sexual orientation, gender identity, family relationships, or any other concerns that may affect a family law case. We work to help our clients understand the steps they can take to protect themselves as they prepare to get married, and we provide strong and effective representation during the divorce process. We work to ensure that same-sex spouses will be able to address the legal issues that may affect them and resolve disputes related to their property, their finances, and the custody of their children.

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 Posted on November 08, 2021 in Marital Agreements

Most divorce cases involve a variety of complex legal issues and financial concerns. However, cases in which a couple has children can often become even more complicated. In addition to addressing their individual desires and financial needs, parents will need to determine how to handle child custody going forward. Since divorcing spouses will often disagree about these issues, they may need to resolve contentious disputes. Each parent will likely be concerned about where their children will live, when the children will be able to spend time with them, and how they will make decisions about how children will be raised. During their divorce, spouses will need to create a parenting plan that fully details the decisions made regarding these issues.

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 Posted on October 28, 2021 in Division of Assets

Getting a divorce will require you to address many different legal issues, and figuring out how you and your spouse will separate your lives from each other can often be a complex process. Determining how to approach the division of marital property is not always easy, but by understanding how the laws apply in your case, you can make decisions that will protect your rights and financial interests, allow you to benefit from the effort you put into your marriage, and provide you with the resources you need to succeed as you move forward with your life.

During the divorce process, you can make sure you are taking the right steps to address property division by working with an experienced attorney. The lawyers of Weiss-Kunz & Oliver, LLC provide our clients with knowledge and understanding of how the divorce laws in Illinois apply to them and how disagreements between spouses can be resolved. Whether you need to address valuable assets during a high net worth divorce or are looking to negotiate a property settlement during an uncontested divorce, we can advocate for your interests and advise you on how to resolve disputes successfully and finalize your divorce as quickly and efficiently as possible.

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 Posted on October 06, 2021 in Divorce

Legally ending a marriage is a complex process, and couples will need to address many different issues as they work to complete their divorce. Once the divorce process is complete, spouses will usually be ready to move forward from this difficult time and begin the next stage of their lives. However, some ex-spouses may experience changes in their lives that affect the terms of their divorce decree, or they may uncover issues that they believe were handled incorrectly during their divorce. In certain cases, an ex-spouse may petition for modifications of their divorce decree or judgment, and a person may also need to take action to enforce the terms of their divorce.

While there are many situations where a person may feel that post-divorce modifications are necessary, they will need to meet certain requirements to show that these types of modifications should be made. By understanding how the laws in Illinois apply in these situations, an ex-spouse can make sure they take the correct steps to successfully petition for changes to their divorce decree. At Weiss-Kunz & Oliver, LLC, we work with our clients to help them determine whether they qualify for post-divorce modifications, and we provide representation when addressing these matters in the courtroom. If you believe that a modification is needed, we can help you prepare and file a petition, assist in negotiating an agreement with your ex-spouse, and advocate on your behalf during legal proceedings.

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 Posted on August 27, 2021 in Divorce

A divorce will involve many different issues that will need to be addressed before a couple’s marriage can be legally dissolved. In some cases, couples will be looking to pursue an uncontested divorce in which they will resolve these issues outside of court, create a divorce settlement that fully details the decisions made, and complete their divorce by attending a “prove-up” hearing. However, it is likely that couples will encounter disagreements about some of these issues, and they may struggle to resolve these disputes on their own. In a contested divorce case, a person will want to understand their options for addressing these issues.

At Weiss-Kunz & Oliver, LLC, we know the difficulties that divorcing spouses can encounter as they determine how to proceed with ending their marriage. We are dedicated to helping our clients find effective solutions that will allow them to complete the divorce process as efficiently as possible and move forward with their lives. For those who have encountered disputes that seem difficult to resolve, we work to help them determine the best course of action. We make sure our clients know their options at all times, and we provide strong legal representation to ensure that their rights and interests will be protected.

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 Posted on August 13, 2021 in Children and Divorce

Of the many complex financial issues that spouses may need to address during the divorce process, tax considerations can be among the most confusing. These issues can be a major concern for parents since the ability to claim children as dependents can affect the amount of taxes that a person will pay, the tax credits they can claim, and the tax refunds they will receive when filing their annual tax returns. Parents will need to be sure to understand how to address child-related tax issues both during the divorce process and after their divorce is complete. They will also need to understand how they will be affected by changes in tax laws, including the ability to receive advance child tax credits.

Advance Child Tax Credits for 2021

The American Rescue Plan Act, which was signed into law in March of 2021, allows parents to receive advance payments during the year for child tax credits that will be claimed on their tax returns for that year. For 2021, the child tax credit is $3,000 for a child under the age of 18 or $3,600 for a child under the age of six. Parents may receive monthly payments from the IRS between July and December of 2021, adding up to half of the total amount of the child tax credit. The remaining amount may be claimed on the parent’s tax return for 2021.

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 Posted on July 23, 2021 in Spousal Maintenance/Alimony

Out of the different types of financial matters that couples will need to address during a divorce, spousal support can often be one of the most contentious issues. While parents will usually recognize that child support will be necessary to provide for their children’s needs, and couples understand that they will need to divide their marital property fairly and equitably, a spouse may be unhappy about the requirement to make ongoing payments to their former partner. However, there are situations where this form of support may be necessary, and it is important for spouses to understand how the laws that address this issue will apply in their case.

When addressing matters related to spousal support and other financial issues during your divorce, you can improve your chances of achieving a positive outcome by working with an experienced divorce attorney. Your lawyer can explain your rights and ensure that all financial factors in your case are considered properly, and they can act as your legal advocate, making sure your rights and interests will be protected in the decisions that are made.

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 Posted on July 13, 2021 in Child Custody

When divorcing spouses share children, the divorce process is much more complex – legally, financially, and personally. If you are a parent getting a divorce in Illinois, it is essential to know what to expect. By educating yourself on child custody concerns, you can prepare for these concerns in advance. The better prepared you are, the better position you will be in to make the decisions that are right for you and your family.

For help, contact a skilled divorce lawyer who understands the unique challenges parents face during divorce and how to meet these challenges head-on. Getting divorced as a parent can seem overwhelming and intimidating, but you do not have to face this situation alone. An experienced attorney can protect your rights, explore your options with you, and help you take the legal steps necessary to accomplish your child custody goals. 

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 Posted on June 23, 2021 in Marital Agreements

Prenuptial agreements: Are any other legal documents subject to more controversy and misunderstanding? Prenuptial agreements, also called premarital agreements or “prenups,” are legal contracts that a couple signs before getting married. Many people grossly misunderstand the purpose of a prenuptial agreement. They assume that only couples who do not believe in the longevity of their marriage would sign a prenuptial agreement or that prenups are only used by wealthy husbands to prevent their wives from pocketing their wealth.

In reality, drafting a mutually beneficial prenuptial agreement is one of the most responsible and practical steps you can take before getting married. Prenups serve a wide range of purposes, including protecting both spouses’ property rights, avoiding stressful litigation in the event of divorce, and describing how property should be distributed if a spouse passes away.

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