DuPage County Divorce Attorney | Bloomingdale Family Law Lawyers
Button 1 Button 2 Button 3 Button 4 Button 5 Button 6
Mevorah & Giglio Law Offices
630-932-9100
Menu
DuPage County Attorneys

LOMBARD

900 E. Roosevelt Road, Lombard, IL 60148

Phone: 630-932-9100

BLOOMINGDALE

134 N. Bloomingdale Road, Bloomingdale, IL 60108

Phone: 630-529-4761

CHICAGO

105 W. Madison Street, Suite 2200, Chicago, IL 60602

Phone: 630-932-9100

NAPERVILLE

1730 Park Street, Suite 202, Naperville, IL 60563

Phone: 630-420-1000

Family Law

Lombard divorce lawyersPreparing for retirement is a lifelong process that requires careful planning and thoughtful goal setting. Most married couples work on their retirement plan together, with many expecting to rely on savings that both spouses have accumulated throughout their lives and careers. However, when your marriage ends in divorce, those retirement plans can be turned upside down, and you and your spouse will likely need to adapt your retirement goals for your new life circumstances. In some cases, this means delaying your retirement date, but there may be other options as well.

What Happens to Retirement Savings in an Illinois Divorce?

What becomes of your retirement savings depends on whether the funds qualify as marital or non-marital assets. If you have a retirement account that was funded entirely before your marriage, it will be considered non-marital property, and you will likely be able to hold onto the entire amount. If you have contributed to an account both before and during your marriage, the pre-marriage contributions may also qualify as non-marital property, though it is important to maintain detailed records to clarify this non-marital portion.

Any contributions to a retirement account during your marriage will likely qualify as marital property, even if you and your spouse each have accounts in your own name. This applies to a variety of accounts including IRAs, pensions, 401(k)s, and more. These accounts will be considered in the division of marital property in your divorce, and if an account needs to be split, it is important to take action to minimize tax consequences and early withdrawal penalties. For example, you should obtain approval for a transfer incident to divorce in order to divide an IRA, and a Qualified Domestic Relations Order (QDRO) in order to divide employer-sponsored accounts like a 401(k).

...
Hits: 114

Lombard family law attorneysOne of the biggest challenges of being a parent is the responsibility to make important decisions that affect the lives and well-being of your children. Married parents at least have the benefit of being able to confide in and consult with a trusted partner when making such decisions, but for divorced or single parents, this is often not the case.

Even co-parents who get along and communicate well must cope with the challenge of raising their children between two different households, and co-parents who are in conflict with each other tend to face even more significant obstacles. The way that you and your co-parent share decision-making responsibilities depends largely on your family’s unique situation, but an experienced attorney can help you work toward an effective arrangement.

What Kinds of Decisions Are Considered to Be Significant in Illinois?

Under Illinois law, parents have the discretion to make routine decisions regarding their children during their allocated parenting time. However, certain types of significant decisions are governed more specifically according to the terms of a parenting plan. These include decisions regarding:

...
Hits: 413

DuPage County divorce attorneysThe outcome of a divorce is heavily influenced by all aspects of the couple’s marital finances, including both assets and debts. Any marital debt remaining at the time of the divorce may need to be divided equitably between both spouses, and this can lead to complications with creditors in the future. Addressing debt before filing for divorce may help you to simplify the divorce process and protect yourself from financial liability.

Types of Marital Debt to Address

It may surprise you to learn that, as with assets, debts incurred by either or both spouses during the marriage are generally considered to belong to the marital estate, meaning that they will factor into the division of assets and debts in the divorce. Common marital debts that divorcing couples must contend with include home mortgages, credit card debt, and vehicle loans. Student loans may also qualify as marital debt if a spouse continued their education during the marriage, especially for the purposes of better providing for the family.

Options for Addressing Debt

Whenever possible, it is a good idea to be proactive about marital debt before initiating the divorce process. Possible strategies for minimizing the impact of debt on your divorce include:

...
Hits: 651

Lombard divorce attorneysOne of the most important things that divorcing couples should know is that the terms of a divorce resolution are legally binding. This means that violating them can have substantial legal consequences, in some cases including charges of contempt of court. If you believe that you may be facing such charges, an attorney can help you avoid them or defend against them.

What Happens When a Person is Charged With Contempt of Court?

Typically, contempt of court charges come about after one of the parties to the divorce files a petition for enforcement of the divorce order against the other party. This may happen after a person fails to pay court-ordered spousal maintenance or child support, or a party violates the terms of the allocation of parenting time or parental responsibilities.

A person who is found to be in contempt of court may be subject to a variety of penalties, including:

...
Hits: 145

DuPage County divorce lawyersMost people are aware that when a couple gets a divorce, they will need to reach a resolution on important issues including the division of marital property and the allocation of parental responsibilities. However, there are many other implications of the divorce process that may not be immediately apparent. One such issue is continued health insurance coverage for a spouse or child.

This issue is of particular relevance now, when many families are struggling with health problems related to COVID-19, or the risk of contracting the coronavirus. If you are concerned about losing access to affordable health care at a time when you need it most, you may have even decided to delay your divorce or pursue a legal separation while remaining legally married. However, it is important to know that if you decide to move forward with your divorce, there are options for maintaining coverage.

The Illinois Spousal Continuation Law

Under Illinois law, if you were covered under your spouse’s employer-sponsored health insurance plan during your marriage, you have the option to continue that coverage after your divorce. In order to do so, you must notify your spouse’s employer within 30 days of the divorce judgment, and once continued coverage is granted, you will also need to pay the full premium throughout the time you remain covered. If you are below the age of 55 at the time of the divorce, continued coverage can extend for a maximum of two years, whereas if you are retired or over the age of 55, coverage can continue up until the point at which you are eligible for Medicare.

...
Hits: 210

Latest Blog Posts

Archives

  • DuPage County Divorce Lawyers
  • Elite Lawyer
  • National Association of Distinguished Counsel
  • Top 40 Under 40
  • 2015 Top 40 Lawyers Under 40
  • Super Lawyers
  • Better Business Bureau

Let us start helping you with a FREE initial consultation.

NOTE: Fields with a * indicate a required field.
*
*
*

One Stop For All Your Legal Needs

Whether you are going through a divorce, injured in an accident, need to file a workers' compensation claim, charged with a crime, immigrating to the United States, or need to file for bankruptcy, Mevorah & Giglio Law Offices can help. Our trial lawyers have over 40 years of experience helping clients throughout Northern Illinois from four offices in Lombard, Bloomindale, Naperville, St. Charles, and Chicago.

Steven Mevorah has assembled experienced attorneys under one roof so that his clients need not search for a new attorney each time they need help. Mr. Mevorah has also established a wide network of additional attorneys so that his clients merely need to stop by Mevorah & Giglio Law Offices to find the attorney they need.

Client Focused Representation

Our practice is focused on meeting your needs with flexible hours and locations to serve you:

  • Free initial consultations
  • Saturday and evening appointments available
  • Home and hospital visits if your injuries prevent you from traveling
  • Multiple locations throughout Chicagoland
  • Veteran trial attorneys
  • Experienced negotiators
  • Payment plans available
  • Cash, check, or credit card accepted