Zuba & Associates, P.C.

Posts tagged "alimony"

Reese Witherspoon, Ryan Phillippe divorce caused by age

According to Ryan Phillippe, age may not be just a number after all. Although the couple split several years back, he only recently cited his and Reese Witherspoon's young age at the time of their marriage as one of the contributing factors to their divorce. Prior to this confession, Phillippe had been notably quiet about the subject of his divorce.

Will my taxes be affected by my divorce?

Even if you and your ex have already split and settled on every aspect of the divorce settlement, you'll likely still need to watch how its terms might affect your taxes for the next several years. Depending on when you and your ex legally divorced, you may even still be able to file jointly to retain married tax benefits for one last year in Illinois. It can also be beneficial to consider how the various terms of a divorce settlement may affect future taxes, as in some situations it could affect any decisions that are made. 

Alimony after a divorce isn't always clear cut

Every family in Illinois is unique. Many families have two working parents, though extenuating circumstances could leave a family with both adults out of work. These choices are often very personal and may seem to have an otherwise negligible effect on other aspects of life, but that may not be so during a divorce. If you're ready to divorce, but only one of the two of you worked throughout the marriage -- or if one of you vastly out earned the other -- those choices could play a significant role in proceedings.

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.

Worried about losing money in divorce? Nick Cannon may not be

Financial stability is at the forefront of many people's minds when considering a divorce. While this is an understandable concern, coming out in the red after a divorce settlement seems to be a popular divorce myth that isn't always true. Instead, some Illinois couples may actually fare better afterward. 

During a divorce, it's okay to stand up for your rights

When discussing the divorce process, much of the attention may appear to be focused on how to sail through as smoothly as possible. However, at times, this is simply not possible. For some people in Illinois who are going through a divorce, there may be times when it is simply okay to disagree with how things are proceeding. 

What should I avoid doing during a divorce?

Although we often discuss various actions that may be beneficial during divorce proceedings on this blog, what actions to avoid may be just as important. While it is possible to readdress things such as custody arrangements, child support and even alimony payments after a divorce is settled, returning to court can be a time-consuming and costly effort for those in Illinois. If you'd like to hopefully have everything settled the first time around, here are a few things you may wish to avoid. 

Anne Griffin says prenup should be thrown out in divorce

Prenuptial agreements are exceptionally useful tools to ensure that certain assets are protected should a marriage possibly end in divorce. However, it may seem as though nearly every high-profile divorce has at least one party that challenges the validity of a prenup. Illinois billionaire Ken Griffin recently filed for divorce from his wife, and the couple's prenup has been at the center of contention.

Professional athletes deal with divorce and alimony

Professional athletes often appear to be in the media on a regular basis, although not always for a great play on the field. While lately that focus has narrowed in on issues of domestic abuse, a more prevalent issue is the divorce rate for professional athletes in Illinois and across the United States. These men and women experience divorce at a rate more than 50 percent higher than the rest of America.

Illinois billionaire Ken Griffin to divorce wife of 11 years

After 11 years of marriage, Ken Griffin -- the founder of Citadel -- filed for divorce from his wife. The 45-year-old Illinois CEO claimed that irreconcilable differences had led to the eventual need for the divorce. Although there was apparently a prenuptial agreement signed by both parties, with substantial assets involved, division of property might not be so clear cut.

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