Zuba & Associates, P.C.

November 2014 Archives

Don't let your ex lie about income for a child support order

Although child custody laws in Illinois have only recently acknowledged that most children benefit from having both parents actively involved in their life, it has long been accepted that both parents should financially contribute to the basic needs of a child. Divorcing parents or those who were never married can both benefit from a child support order. However, if one parent is not being totally honest about what he or she makes, determining an accurate amount for child support can be difficult.

Want to keep the house after the divorce? Take a look at the loan

For some Illinois couples, dividing up the assets can be a drawn-out process characterized by petty disputes. For other couples, the process is much simpler, with both parties agreeing on how to divide all or most of the property. However, simply deciding that one individual should retain possession of a certain asset after divorce -- such as a house -- may not always be enough.

Credit scores can take a hit during divorce

Many married couples in Illinois choose to share almost everything after saying "I do." Unfortunately, depending on what kind of information was shared between the couple, this can ultimately backfire during a divorce. Of particular worry for some divorcing individuals is the state of their finances and credit scores.

Do I need to worry about taxes during division of property?

The final divorce settlement may look like the finish line of a race, but if you're sprinting toward that goal without stopping to consider how various decisions can affect your future, you could ultimately end up doing more harm than good. Aside from moving from a joint tax return to filing as single, certain aspects of the division of property can have additional tax implications. If you're considering a divorce in Illinois, you may be well-advised to slow your sprint down to a walk.

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Zuba & Associates, P.C

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6067 Strathmoor Drive
Rockford, IL 61107

Phone: 815-397-7000
Fax: 815-397-1834
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