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Blog Posts in August, 2018

  • What Happens to Student Loans in a Divorce?

    Americans collectively owe nearly $1.5 trillion in student loan debts. Statistically, this means that 1 out of every 4 adults nationwide are currently part of a college debt repayment plan. The standard federal repayment plan takes at least 10 years to complete, and it’s not uncommon for people with student loan debts to marry and divorce within that same time period. But what happens to ...
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  • The Pros & Cons of Lump Sum Alimony Payments

    Before the divorce process can be finalized, all financial matters relating to spousal maintenance, or “alimony,” must be agreed upon by both spouses or determined by the court. The purpose of alimony is to offer financial support to a lower earning spouse as they adapt to being single and self-sufficient. Typically, alimony is paid in monthly installments to benefit the financial ...
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  • Timeshares & Divorce | Illinois Divorce Attorneys

    For some married couples, timeshares are a vacation paradise and a romantic home away from home. For many others, however, timeshares represent a misguided purchase that is notoriously difficult to sell. Typically, a timeshare allows multiple people to own the same property and utilize it for established periods of time during the year. While the idea is sound, the reality is a little less grand. ...
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  • Private School Tuition & Child Support Payments

    The primary purpose of child support is to provide minors with financially-stable living environments that encompass their basic living needs. Calculating and establishing the guidelines of child support payments is an important facet of many divorce settlements. Basic living expenses include: Clothing Shelter Food Educational expenses Health care (circumstantially) The Illinois Marriage and ...
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