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September 2016 Archives

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Are child support and alimony taxable?

Divorce is one of those things that seems to touch every area of life, whether you expect it o or not. One area that you will need to pay special attention to following a divorce is how you budget for and prepare your taxes. Taxes affect child support payments and alimony differently, and should be approached carefully. While it is always wise to consider having your taxes prepared by a tax professional, a general understanding of how taxation is leveed against child support and alimony for both spouses can help you plan well.

Illinois upholds no property division for domestic partners

Illinois been one of the more progressive states for years, when it comes to extending rights to those who choose non-traditional lifestyles or forms of cohabitation. However, the law has not been entirely on the side of those who choose to be in unofficial domestic partnerships, making it very difficult to achieve fair asset division for couples who choose to cohabitant and then break up. This long-standing position was revisited recently, but ultimately left standing.

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