MLG LAW GROUP-CHICAGO DIVORCE AND CUSTODY LAWYERS

A new law in Illinois as of January 1, 2015 changes how spousal support is determined for divorcing couples whose combined gross income is less than $250,000. This new law raises some interesting issues with respect to the global finances of divorce, so let's examine briefly the new law of spousal support in Illinois. The law, which was developed by the Illinois State Bar's Family Law Section Council, creates a protocol for calculating maintenance based on the income of the parties and the length of the marriage. The law that has been in use for years essentially placed a high degree of discretion with the trial judge; parties to divorce sometimes had very little guidance as to what a given judge would award for maintenance, or if any award was to be granted. Under the new law, a maintenance award should equal 30 percent of the payor’s ( the one who pays maintenance) gross income minus 20 percent of the payee’s (recipient) gross income, not to exceed 40 percent of the parti

Divorce and foreclosure often go hand in hand. If you find yourself facing a divorce, you may have questions about your current home mortgage, particularly who is liable for the debt after the divorce and how to avoid a foreclosure. Read on to get the information you need to help you through this difficult time. (To learn the ins and outs of the foreclosure process, and foreclosure procedures in your state, visit our  Foreclosure Center .) Who Is Responsible for the Mortgage? The first thing that a divorcing couple must first figure out is who is responsible for the mortgage debt. In many cases, when married couples first take out a mortgage, they obtain the loan and take title to the property jointly. In other circumstances, just one spouse may take out the mortgage and sign the promissory note. Signing a mortgage and promissory note has important legal and financial ramifications. The note creates the promise to pay, whereas the mortgage creates the lien on the property. (Learn

Many years ago, the myth began to circulate that if parents are unhappy, the kids are unhappy, too. So divorce could help both parent and child. "What's good for mom or dad is good for the children," it was assumed. But we now have an enormous amount of research on divorce and children, all pointing to the same stubborn truth: Kids suffer when moms and dads split up. (And  divorce doesn't make mom and dad happier, either .) The reasons behind the troubling statistics and the always-present emotional trauma are simple but profound. As licensed counselor and therapist Steven Earll writes: Children (and adult children) have the attitude that their parents should be able to work through and solve any issue. Parents, who have given the children life, are perceived by the children as very competent people with supernatural abilities to meet the needs of the children. No problem should be too great for their parents to handle. For a child, divorce shatters this basic