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January 2019 Archives

How capital gains tax plays in to home equity

A previous post on this blog talked about how couples who are splitting, either in a divorce or even after a long-term relationship, must wrangle with property division. During this process, among other decisions, splitting couples must choose how to divide equity in a home that they own or that is legally marital property.

What happens to home equity when you divorce?

At one point, you and your soon-to-be-former spouse planned to spend the rest of your lives together, and during that time, you may have secured assets together that you now need to figure out how to divide. For many couples facing similar situations, the most substantial asset the parties must figure out how to divide between them is a shared home.

When can a teen choose which parent to live with?

A previous post on this blog talked about how parents in Rockford can manage to co-parent their older children, particularly their teenagers. Even when parents are getting along, allocating parental responsibilities in these situations can be particularly tricky for several reasons. For one, teenagers, more so than younger children, often have a life of their own, including activities, jobs and social occasions they prefer not to miss. Moreover, a teen may have a strong opinion about how much time he or she wants with each parent.

Review of when child support ends in Illinois

As our website has discussed, a parent's child support obligation does not last forever. When one thinks about it, this makes sense since a child who lives with both of his parents in Rockford will eventually be expected to make his own way in life and pay for his own needs.

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