Zuba & Associates, P.C.

Family Law Archives

Long-term view vital for effective money decisions during divorce

Unfortunately, people often make mistakes when negotiating their divorce settlements. Advice about post-divorce finances could help spouses in Illinois avoid money problems after the end of a marriage. People should focus on the future and the possibility of unforeseen life changes.

How child support relates to social services

Many Illinois single parents are struggling to get by and support their children, especially if they are making their own way without child support from the other parent. In some cases, they may apply for public assistance, especially if they are facing poverty. This can be especially likely when the other parent was previously responsible for carrying the majority of family expenses. However, when a single parent applies for government assistance and social services, one of the first inquiries he or she is likely to face from that office will be about his or her child support situation.

Less than 70 percent of child support is received by parents

Child support can help custodial parents make ends meet when they have to raise their kids alone. Despite the misconception that many single parents in Illinois live lavish lifestyles funded by their ex-spouses, the facts show the opposite. The mean amount of child support that custodial parents are court-ordered to receive is about $500 a month. More than half of the parents who are owed child support don't receive the full amount. About a quarter don't get any child support at all.

The benefits of establishing paternity

Establishing paternity is an important step that all Illinois parents should take, especially if the parents are not married. Although many parents or potential parents only think about the child support aspect, there are numerous other benefits for both the child and the parents.

Financial steps to take in preparing for divorce

When people in Illinois are considering getting a divorce, they may want to take certain steps to prepare financially for the process ahead. The first step should be to organize financial information. This may include getting copies of financial documents and putting them somewhere safe, such as with a friend or in a safe deposit box.

Parenting plans can set guidelines for the future

Many parents in Illinois are most concerned with how they will maintain and enhance their relationship with their children after a divorce. Just because their romantic relationship is ending does not mean that their bond with their children is any less precious or important. Indeed, handling custody and parenting matters between a divorcing couple can often be one of the most contentious and challenging issues that come with the end of a marriage.

Divorce and dividing 401(k) funds

One of the most highly disputed issues that divorcing couples in Illinois may address is the division of 401(k) funds. These types of retirement accounts, like other forms of pensions, have their own set of rules that should be followed in order to avoid consequences such as high tax bills, large penalties and unintended distribution.

The benefits of planning for divorce in advance

Just as someone puts a seat belt on even though he or she is not planning to get into an accident, people should prepare and plan for getting divorced. Illinois residents may be able to protect assets from creditors or property division by creating a prenuptial agreement. It may also be possible to do so by keeping assets in a separate account. As a general rule, separate property refers to anything a person owned prior to a marriage.

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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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