The actions of spouses can definitely have a detrimental effect on the finances of an individual. The divorce of former New York governor Eliot Spitzer provides some insight into the ways that a prenuptial agreement can avoid problems later.
There has been an increase in law firms providing representation for fathers in child custody cases as the number of stay-at-home dads has risen as well. Traditionally, the rights of mothers and fathers in child custody battles have not been given equal consideration. As women enjoy more equality in the workplace in Illinois and around the country, some men are saying that they should get equal treatment within the arena of family law.
Illinois movie fans may have heard that actress Halle Berry recently agreed to pay her ex-boyfriend almost $200,000 a year in child support payments. Since 2012, Berry had been fighting over custody with her ex-boyfriend, who works as a model. In that year, the actress tried to move the couple's daughter with her to France, but a judge blocked the request.
Couples in Illinois may be faced with a number of tax considerations when they pursue a divorce. In addition to changes to how a person files his or her tax return, the division of marital property might be influenced by tax exemptions and burdens. A financial advisor discusses a number of these issues in a recent article.