Our family law clients need to be aware of a big change to the tax treatment of alimony payments. Among the many changes to the tax laws enacted at the end of 2017 is a dramatic adjustment to tax consequences for those paying or receiving alimony (or maintenance payments as they are known in Illinois law) beginning January 1, 2019. In the past and continuing for the rest of 2018, the person paying alimony was able to take a tax deduction and the person receiving the payments had to claim them as taxable income. For any divorce decrees or property settlement agreements entered by a court
Legal Blog of Thaddeus M. Bond, Jr. Associates
Serving Waukegan, Libertyville, Lake County, Gurnee & nearby areas of Illinois
January 17, 2018
Our firm concentrates a significant portion of its practice in the area of family law. What does that mean? Family law covers an extensive range of issues: divorce, child custody, child support, alimony/maintenance, paternity, adoption and domestice abuse. Many of our clients have cases which touch upon more than one of these areas. We are often retained at the beginning of the case. In many instances, we handle post judgment issues which arise and are needed to correct a change in circumstances or deal with one party's failure to comply with a court order. Our firm also has
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January 12, 2018
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January 08, 2018
We all lead hectic lives. We sometimes put off important things like creating a will and/or updating our existing plan. The fact is none of us really know when we might become disabled or die. One of the best and most responsible things you can do for your family and loved ones is have a proper estate plan in place. You should designate a guardian for any minor children. Choose someone you trust to handle your affairs when you are no longer able to do so. Decide which people and charitable organizations are more important to you and make sure that your assets are distributed to them t
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December 29, 2017
In today’s video blog, Attorney June Peterson-Gleason discusses how long it takes to get divorced in Lake County, Illinois.
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December 26, 2017
The State of Illinois passed legislation on December 20, 2017 which became effective immediately and significantly reduced the fees which must be paid to set up and maintain a limited liability company with the Secretary of State's office. The fee to file articles of organization was reduced from $500 to only $150. The fee to file an annual report was reduced from $250 to only $75. These fees are more in line with those charged in other states as Illinois was charging some of the highest rates in the nation.
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December 19, 2017
Illinois statutes no longer use the term child custody but it is a commonly understood phrase. Instead of awarding custody, courts now delineate decision making responsibility in regards to such issues as education, primary residence, health care, extracurricular activities and religion. Most of the time, these issues are resolved as part of divorce proceedings. However, in many cases, the parents of the child have never been married so custody related issues are determined as part of a parentage case. In some cases, people other than a parent might seek some form of custody of a child.
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November 28, 2017
Getting divorced can be very stressful. Among the many issues you will have to deal with is payment of attorney's fees. Prospective clients frequently ask us how much they can expect to spend. The answer is rarely simple.
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November 02, 2017
We are a landlord’s rights firm, choosing to represent only residential property owners and not tenants (we do represent commercial tenants). A frequent mistake that we see is landlords failing to renew their leases in writing at or prior to the time they expire. When they have a good paying tenant, many landlords want to avoid causing problems by simply letting the tenant continue under the terms of the written lease as they currently exist.
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