The payment of child support is governed by Section 505 of the Illinois Marriage and Dissolution of Marriage Act (IMDMA). Under Illinois law and public policy, all parents have an absolute obligation to support their child, regardless of how much time they spend with the child, whether there is a visitation schedule in place, or whether they were ever married to the child's other parent. Typically, when a child resides with one parent more than fifty percent if the time, the other parent (non-custodial parent) is required to pay child support
What is a High Net Worth Divorce? By J. Turner Thornton , Partner, Varghese Summersett, Divorced Girl Smiling Trusted Professional What is a high net worth divorce?A high net worth divorce case is one in which the divorcing couple has significant assets, property, and income to divide. These cases often involve complex property division and alimony arrangements. Generally, this means at least a million dollars in assets that need to be divided. Divorce can be especially complex for high net worth individuals, requiring in-depth negotiations and property division arrangements. In such cases where significant assets are at stake, it’s essential to consider the possibility of hidden or undisclosed funds by either party. This is often a difficult task as cash is notoriously hard to trace. When marriage hits the rocks, some people may try to get creative or even go to extreme lengths to protect their financial well-being. Here are some ways people try to hide mo...
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