Articles

The Importance of Establishing Parentage in Illinois

St. Charles Family Law Firm

When a child is born to a married or recently divorced mother, the mother's husband or former husband is presumed to be the child's father. He automatically becomes the child's legal parent, which means that he has the same legal rights regarding the child that the child's mother has. But not all children are born to married or recently divorced mothers. According to the Centers for Disease Control and Prevention, 40.2 percent of babies born in the United States are born to mothers who are not married. In this type of situation, the child's father must establish his paternity in order to be legally considered the child's parent.

Failing to establish a child's paternity can make it difficult for the father to have a relationship with the child if his relationship with the child's mother ends because if he is not a legal parent, he cannot work with the court to establish a parenting time schedule or determine his parental responsibilities. It can become necessary to work with an experienced Illinois family lawyer to establish paternity and gain these rights. Although the term “paternity” is often used colloquially, Illinois law now uses the term “parentage” because it can refer to an individual of either gender.

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The Division of Retirement Assets in a Divorce

St. Charles Divorce Attorneys

When a couple divorces in Illinois, their assets are divided equitably between them. These assets include everything the couple earned or developed during their marriage, such as their home, their joint savings account, their personal possessions, and their retirement accounts. The only property that is not subject to division during the divorce process is singly-held property, which includes anything either partner owned before entering the marriage or property gained through inheritance or as a gift. Otherwise, assets such as pensions, IRAs, SEP accounts, and 401(k) accounts are all subject to court division under the Illinois Marriage and Dissolution of Marriage Act.

Dividing your retirement accounts with your spouse can change your financial future. It could mean that you will have to work longer than you initially envisioned or that you will need to make some changes to how you save and invest your money. To learn more about how the court division of your retirement assets will affect your financial health after the divorce, speak with an experienced Kane County divorce attorney.

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What is the Role of a Forensic Accountant in a Divorce?

St. Charles Divorce Attorneys

A forensic accountant is an accountant who uses his or her expertise to conduct an investigation of an individual, group, or company's financial past. In a divorce, a forensic accountant may aid the court by examining the couple's financial history and current financial outlook to determine an appropriate way to divide their property and fair child support and spousal support amounts. If one party suspects that his or her spouse is hiding assets in an attempt to keep them from being divided in the divorce, a forensic accountant may be asked to investigate this. "Forensic" simply means "suitable for the court of law." When a forensic accountant investigates a married couple's finances, the accountant's findings may be submitted to the court for consideration. Talk to your divorce lawyer about what a forensic accountant may and may not do, how the data he or she obtains may be used, and what you should do to prepare for a forensic accountant's investigation of your assets.

How to Find the Right Forensic Accountant

Many divorce and family lawyers have forensic accountants in their professional networks. This is because forensic accountants frequently work with divorce lawyers to determine their clients' true financial situations during the divorce process. A forensic accountant is often just one of the professionals a divorce lawyer asks for help with a client's divorce. Usually, a divorce is a team effort. Other professionals who may be asked to help with your divorce include a real estate appraiser, a child custody evaluator, and a financial adviser.

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College Expenses: Who is Responsible?

Kane County Family Law Attorneys

By the spring of their senior year, most high school students know if they will attend college the following fall and if so, where. Planning for college can be stressful for every member of the family, from the prospective student making sure he or she meets all admission requirements and deadlines to parents figuring out how their child will afford college.

College is expensive, and many families begin saving for this expense years in advance and approach it with multiple funding sources, including scholarships, loans, the student working an on-campus job while attending college, and the parents paying some expenses out of pocket. In a family where the student's parents are still together, determining how to fund the student's education can be difficult. When the student's parents are divorced, determining how to pay for college can be even more difficult. Unless a couple specifically included plans for their child's college expenses in their child support or divorce agreement, coming to a fair determination can be challenging. Work with an experienced Kane County divorce attorney to determine the options available to you and your family.

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