Illinois parents who get divorced may be ordered to pay child support or be due to receive child support depending upon the circumstances of their situations. The requirement to pay child support is a legal obligation intended to help the recipient parent meet the financial needs of children. It is to be used for anything from every day expenses to extracurricular expenses. The failure to pay child support can result in serious criminal charges. If you must pay or should receive child support, understanding this is important for you.
Any Illinois resident that has gotten divorced knows how deeply the experience can feel. Especially when children are involved, the emotional issues to face seem countless. From child support to child custody arrangements and beyond, there are numerous things to address and agree upon. While it may be possible to intellectually understand the logistics of a divorce, there are some realities that surpass the intellect and the logistics.
When handling divorce cases for Cook County residents who have a high net-worth, we here at Lois Kulinsky & Associates, Ltd. will sometimes see scenarios involving hidden assets. If you suspect that your spouse is not disclosing assets as instructed by the court, you may not know where to start looking for those funds. Fortunately, there are resources at your disposal to help in this search.
Dividing marital property can be one of the most difficult portions of a divorce. Illinois couples who have experienced a divorce can attest to this. Bank accounts, homes, property and even items of sentimental value can all be at risk of being split or lost to the other spouse. Part of the process of identifying a property division settlement is determining the value of all assets or liabilities. This must happen so that the ultimate settlement is fair.