The 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:

One 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:

Most 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.

Since 2017, Illinois has used a calculation for determining basic child support obligations that factors in both parents’ incomes, as well as certain other criteria including parenting time and the number of children in question. This calculation often leads to a fair outcome that considers both parents’ responsibility to provide for their children, as well as their financial ability to do so. However, every family is different, and there are cases in which the calculation is not fully adequate to meet a family’s needs. In these cases, an Illinois court can deviate from the calculation to issue an appropriate order.

Reasons for Child Support Order Adjustments

A variety of circumstances may lead the court to make an adjustment to the basic child support calculation or use a different method for determining a parent’s child support obligation. Some possible factors that may be considered include:

• The parents’ financial resources - The court may choose to make an adjustment when a parent has extremely limited financial resources that would make paying the basic amount difficult, or when a parent has ample resources that would allow them to contribute a greater amount to support the child.
• The child’s accustomed standard of living - The court will often seek to issue an order that allows the child to maintain the standard of living they are used to, or the standard of living they would likely have in a two-parent household.
• The child’s medical and healthcare needs - Extraordinary expenses for ongoing or emergency medical care may require greater financial contributions from each parent to meet the child’s needs.
• The child’s special needs - A child with mental, physical, or developmental disabilities may require additional support from their parents to account for the regular costs of their care.
• The child’s educational and extracurricular expenses - The court may increase child support obligations to provide for a minor child’s tuition, tutoring, or out-of-school activities, and in some cases, parents may also be ordered to contribute to their child’s college expenses after the child has reached the age of 18.
• The parents’ child care expenses - The cost of child care that allows a parent to work or pursue an education can also be factored into child support obligations.

Contact a DuPage County Child Support Lawyer

At Mevorah & Giglio Law Offices, we understand the importance of ensuring that your children have the financial support they need, and we will help you ensure that all relevant factors are considered when determining child support obligations for you and the other parent. For a free initial consultation with a Bloomingdale family law attorney, contact us at 630-528-2050 today.

When a couple chooses to get a divorce, the process of dividing marital assets is likely to cause some conflict. Each party may have personal attachments to certain properties, and while it is sometimes fairly straightforward to reach an agreement that satisfies each person’s needs and wishes, certain kinds of properties are especially complicated. When it comes to dividing these properties, it is helpful to have the guidance of an experienced attorney who can help you protect your interests and avoid financial losses.

3 Properties That May Cause Conflict During a Divorce

Typically, the properties that are hardest to divide are those that have the highest value and that both parties rely on. These may include:

1. Retirement accounts: In Illinois, contributions to retirement accounts that were made during a marriage are usually considered marital property, even if the account is listed in one party’s name or funded through contributions from one party’s paycheck. The necessity of dividing a retirement account can affect both party’s retirement plans, and it can result in significant losses if you are not careful about how you divide it. Many retirement accounts must be divided in accordance with a Qualified Domestic Relations Order (QDRO) to prevent early withdrawal penalties and other tax implications.
2. The couple’s home: A home that you and your spouse shared during your marriage may be your most valuable marital asset, and it also often comes with strong emotional attachments, especially when you have children who feel secure in the home. Many couples try to arrange for one party to keep the home after the divorce, but it is important to keep in mind associated expenses like mortgage payments, utilities, and property taxes, in addition to the home’s value.
3. Businesses: A business bought or founded by either spouse during the marriage is also usually considered property of the marital estate. If one party is more invested in the business and wishes to keep it in the divorce, he or she will likely have to give up other assets to achieve an equitable distribution. A family business in which both parties are involved can be even more complicated, as you may need to arrange for a buyout of one party’s share or determine whether it makes sense to remain co-owners and business partners.

Contact a DuPage County Property Division Attorney

If you are concerned about your property interests and the financial impact of your divorce, the attorneys at Mevorah & Giglio Law Offices can help. We will work with you to reach a fair resolution that prevents you from experiencing excessive hardship. Contact a Lombard, IL divorce lawyer for a free consultation at 630-755-6426.