Decisions regarding the division of marital assets upon divorce may be made either by the divorcing spouses themselves or by a judge. State law governs how marital and separate property is divided in the property distribution. Typically, each spouse will
Alan Pearlman
Since 1974 Alan Pearlman, Ltd. has counseled over 5,000 complex divorce matters and over 10,000 criminal matters including thousands of DUI cases. Concentrating on Family Law matters, the firm assists with Adoption, Child Custody Matters, Dissolution of Marriage(Divorce), Child Support, Visitation and Maintenance (formerly known as Alimony). Mr. Pearlman serves on several Bar Association special interest groups and committees, including former Chair of the Chicago Bar’s committee on legal technology.
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http://www.alanpearlmanltd.com/
Latest from Alan Pearlman - Page 2
2019 BRINGS MANY CHANGES TO ILLINOIS DIVORCE LAWS
This past January 1st over 250 new laws took effect for Illinois, including several sweeping changes to Illinois’ divorce laws. Here are some of the major changes to the Illinois Marriage and Dissolution of Marriage Act that have taken effect…
Joint Tax Returns and the Innocent Spouse Doctrine
Many married couples file joint tax returns to take advantage of certain benefits offered by this filing status. This may result in the unfortunate and unintended consequence of one spouse being held responsible for the underreporting of income by the…
Marital Deductions & Non-Citizen Spouses
A QDOT is a specific type of marital deduction trust that is designed to ensure that non-citizen spouses will eventually pay any taxes that may be due upon distribution of the principal from the trust, even if the surviving spouse…
Deductibility of Divorce-Related Payments
Prior to filing for divorce, various federal tax considerations should be reviewed due to their potentially profound implications. Among the major issues commonly covered in a divorce decree or agreement are: alimony, sometimes referred to as “spousal” or “separate maintenance”…
IRS Recharacterization of “Alimony” Payments
Three major issues commonly resolved in a divorce decree or agreement are: alimony, or spousal support; division of property; and child support. Each has its own tax treatment and implications. In general, for federal income tax purposes, alimony is “deductible”…
Howell v. Howell and it’s Affects on Military Retirement Pay in Divorce Cases
In a rare 8-0 decision, the Supreme Court recently overturned a ruling by the highest court of Arizona regarding the division of military retirement pay under a divorce decree. Howell v. Howell, decided May 15, held that any waived portion…
Parental Liability for Acts of Minor Children
In most states, the age of majority (when a person is recognized by law as an adult), is 18 years of age or older. A “minor” is a person who is under the age of 18. When a minor breaks…
Are Children Conceived After the Death of Parent Entitled to Benefits
Several states refer to children who are born or adopted after the execution of a parent’s will and omitted from the provisions of the testamentary instrument as “omitted” or “pretermitted” children. In the interest of fairness, states that recognize the…
Divorce and Federal Income Taxes
Prior to filing for divorce, various federal tax considerations should be reviewed due to their potentially profound implications. Among the major issues commonly covered in a divorce decree or agreement are: alimony, sometimes referred to as “spousal” or “separate…