Elmhurst Divorce Lawyers | Illinois Family Law Attorneys

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What Tax Issues Will I Need to Consider During My Divorce?

Posted on December 08, 2021 in Divorce

Elmhurst Divorce Attorneys 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.

Filing Status During and After Divorce

After your divorce is finalized, you and your spouse will be required to file taxes separately. However, before your marriage is legally terminated, you will need to determine how you will file tax returns either together or separately. By determining the correct filing status, you can determine the best ways to minimize the taxes you owe and ensure that you receive the proper tax refunds. Your options for filing taxes during your divorce may include:

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How Can Same-Sex Couples Protect Themselves During Marriage and Divorce?

Posted on November 30, 2021 in Divorce

Elmhurst family law attorney for same-sex 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.

Addressing Property Rights for Same-Sex Couples

Since same-sex spouses have the same rights as opposite-sex spouses, Illinois laws regarding property division will apply if a couple chooses to get a divorce. All property that was acquired during a couple’s marriage will be considered marital property, and these assets will need to be divided between the spouses during the divorce process.

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What Issues Will a Parenting Plan Address During an Illinois Divorce?

Posted on November 08, 2021 in Marital Agreements

Elmhurst family law attorney for asset division 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.

Matters related to your children are some of the most important issues that you will need to deal with during your divorce. To make sure you are making the right decisions and taking the correct steps to protect your parental rights and provide for your children’s needs, you can work with a skilled and experienced family law attorney. At the law firm of Weiss-Kunz & Oliver, LLC, we provide our clients with strong representation, ensuring that they are fully prepared to address child-related issues correctly during the divorce process. We will work with you to make sure your parenting plan will meet your family’s needs and protect your children’s best interests.

Addressing Legal and Physical Custody

Divorcing parents will need to determine how they will share custody of their children after dissolving their marriage. If they are able to complete an uncontested divorce, they will negotiate a parenting plan that will be included in their divorce settlement. If they are unable to reach a settlement, and divorce litigation will be required to resolve any outstanding issues, they may ask a judge to make the final decisions and finalize the details of their parenting plan.

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How Is the Division of Property Handled in an Illinois Divorce?

Posted on October 28, 2021 in Division of Assets

Elmhurst family law attorney for asset division 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.

Understanding Your Rights Regarding Marital Property

Before you can begin the property division process, you will need to understand what types of property will need to be considered. The assets you and your spouse own may be divided into two categories: marital property and non-marital property. Marital property includes all assets and debts you have acquired during your marriage (after the date you were married and before the date that you were legally separated). Non-marital property includes any assets either of you owned before you got married or that were acquired after a legal separation. Assets received through gifts or inheritances will also usually be considered non-marital property, and a prenuptial or postnuptial agreement may also be used to state that certain assets will be categorized as non-marital property owned by one spouse.

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When Can I Make Modifications to My Divorce Decree or Judgment?

Posted on October 06, 2021 in Divorce

Elmhurst family law attorney for divorce modifications 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.

Divorce-Related Issues That Cannot Be Modified

Most of the time, decisions regarding the division of marital property are final once a divorce decree or judgment is issued. Even if these decisions seem unfair, a person usually cannot ask for a post-divorce modification to make changes to how marital assets were allocated between them and their spouse.

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