blog home archives June, 2011 - Chicago Illinois Family Law Blog

June, 2011 - Chicago Illinois Family Law Blog Archive

Massachusetts Looks to Cap Alimony Payments with Proposed Legislation

By Nottage and Ward on June 29, 2011

In Massachusetts, legislation has recently been proposed that would significantly change the way alimony payments are decided in the State, reports The Boston Business Journal. Additionally, if passed, it would also allow divorced parties to revisit their established alimony agreements, in certain circumstances.

Known as the Alimony Reform Act of 2011, the bill has been praised by many for giving long-anticipated guidelines regarding alimony awards in the State. Massachusetts does not currently permit judges to set a cap on its duration, which has resulted in many scenarios of working ex-spouses making lifetime alimony payments to a non-working ex-spouse who are supported by an unmarried, live-in partner. Now, the proposed legislation gives precise definitions of new, additional categories of alimony, and also describes how long payments should continue. For example, in “general term alimony,” a former spouse who is economically dependent on the other former spouse is given regular payments; in “rehabilitative alimony,” payment is made to a former spouse who is expected to eventually become financially independent.

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Guidelines Released by Illinois Dept. of Insurance for Civil Union Spouses

By Nottage and Ward on June 22, 2011

On May 26, the Illinois Department of Insurance released information for insurance companies and consumers regarding the “Illinois Religious Freedom Protection and Civil Union Act,” which took effect on June 1. The Act permits unmarried adults in Illinois to enter into a civil union, and grants them much of the same legal rights that the law gives to married couples in the state.

On its website, http://www.insurance.illinois.gov, the Department published new information that explains the law’s impact on insurance coverage and benefits. A fact sheet for consumers contains frequently asked questions that cover such aspects of the new law as how to enroll a civil union spouse under an employer’s health plan. The Department also offers guidelines for Illinois insurance companies to help ensure that they comply with the new law and give policyholders information they need to know about the new law. Illinois residents with questions can visit the Department’s website or call one of the Department’s insurance experts at 866-445-5326.

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Census Bureau Survey Discovers U.S. Divorces Decline Slightly, But “Seven-Year Itch” Remains

By Nottage and Ward on June 13, 2011

ABC News reports that new data released by the Census Bureau shows that divorces in the U.S. have tapered slightly after decades of steadily increasing. Couples are now more likely to achieve 10 years of marriage. However, the trend of couples getting a divorce after seven years of marriage, called the “seven-year itch,” remains.

The Census Bureau obtained the data after conducting its Survey of Income and Program Participation in 2009, which surveyed 55,497 adults who are or have been married. Approximately 75 percent of people who have been married since the 1990s reported they had been married for 10 years or more, an increase of around three percent as compared to people married in the 1980s, when divorce rates in the U.S. began to peak. The 1960s and 1970s saw the highest divorce rates as the result of new laws that were passed that made it easier and faster to divorce.

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Study Finds a Connection Between Unemployment and Divorce

By Nottage and Ward on June 10, 2011

According to The Huffington Post, a recent study conducted by sociology professors at Penn State University found that, since the 1980s, divorce rates have consistently dropped when unemployment rates have increased.

The study analyzed data from all 50 states in the U.S. between 1960 and 2005. Researchers expected to discover that unemployment destabilizes marriage. Before 1980, this was true: when unemployment numbers rose, so did the number of divorces. Since the 80s, however, when unemployment rates have increased, divorce rates have declined.

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Divorce Rates Increase as the U.S. Economy Recovers

By Nottage and Ward on June 8, 2011

ABC News reports that divorce attorneys across the United States have seen an increase in the number of couples who are seeking to finalize their divorce after months of indecision during the economic recession.

According to the vice president of the American Academy of Matrimonial Lawyers (AAML), John Slowiaczek, the increase is due primarily to finances. He notes that many law firms are seeing an increase in the number of clients they have as the country recovers from the recession. Specifically, his law office in Nebraska saw an increase of 25 percent from January through April of this year when compared to the same period in 2010. Linda Lea Viken, president of the AAML, says that the recession made it difficult for couples to divorce on both emotional and financial levels. She notes that many couples may have assets that have decreased in value, or may be facing foreclosure on their home, both of which make it very risky for divorce. Some couples may have also had fears about the burden of being entirely responsible for their own bills after the divorce.

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The Importance of Prenuptial Agreements for Married Couples Who Own a Business

By Nottage and Ward on June 6, 2011

Recently, Forbes featured an article that discussed how divorce can complicate business ownership, particularly if the value of a business increased during a marriage. The value of a marital business in Illinois will usually be included in marital assets that will need to be split between divorcing spouses following a business valuation. However, there are steps a party can take to protect the business and their investments. If they have a greater stake in the business or if they consider the business to be separate property, they may be able to prevent a business valuation from being conducted.

While marital and separate property can be incredibly complicated, typically, one party will claim a right to a certain percentage of the other party’s business, whether or not they contributed directly to growing it. One of the biggest steps a person can take to protect their business during a divorce is to have a pre-nuptial agreement in Illinois in place before the marriage begins. In order for the prenup to be most effective, it should contain certain elements, including:

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Important Steps to Take Once Your Illinois Divorce is Finalized

By Nottage and Ward on June 2, 2011

Recently, The Boston Globe featured an article that noted several important steps a newly divorced person should be sure to take once their divorce is finalized to protect themselves and their financial future.

First, you should close all joint credit accounts that you shared with your now ex-spouse. Be sure all your credit card bills and/or debts are paid and are closed, either by yourself or your ex-spouse if they are responsible. You should also close all joint bank accounts you previously shared and open new checking and savings accounts in your separate name. Failing to do so could have serious repercussions for your finances and credit score. If appropriate, change your name with the Social Security Administration (SSA) before opening new accounts.

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