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July 2013 Archives

Using a QDRO to split a retirement account in an Illinois divorce

What are Qualified Domestic Relations Orders, and how do they relate to asset division in Illinois divorces? QDROs are used to give an alternate recipient the right to receive funds from a private-sector retirement account such as a 401(k) or a pension plan. The alternate recipient could be the plan participant's child, spouse or former spouse, so you can see why QDROs are important in dividing assets in the divorce process.

Alimony troubles for NBA champ Dwayne Wade

In an Illinois divorce, an Agreed Preliminary Injunction, or API, can require that the divorcing parties set up a shared bank account into which income should be deposited. Funds can then be allocated to the proper recipients, and this kind of agreement may be especially useful in a high-asset divorce.

What are the long-term effects of divorce on young children?

The results of a recent study may not be all that surprising to parents: that younger children tend to experience more long-term negative effects from divorce than do older children. Every case is different, of course. We established this blog to discuss these matters and more, so let us consider the study's recent findings.

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