Interest and Dividend Income In An Illinois Divorce - Russell D. Knight

From Law Office of Russell D. Knight – Interest and Dividend Income In An Illinois Divorce breaks down how income from investments, businesses, and appreciating assets can impact child support and maintenance decisions in Illinois divorce proceedings. This episode delivers practical insights on how income generated through stocks, bonds, LLCs, and S-corporations is treated during asset division and support calculations under 750 ILCS 5/503 and related statutes.

Listeners will gain a deeper understanding of how Illinois law defines "income"—from dividends and interest to K1s, 1099s, and even unrealized gains—and why it matters in court. The episode outlines how courts determine whether assets are marital or non-marital, and how they calculate maintenance and child support using gross and net income, as defined by both 750 ILCS 5/504 and 750 ILCS 5/505. It also touches on the discretion courts have when imputing income and what happens when parties attempt to manipulate their income via asset structuring.

Law Office of Russell D. Knight explains how S-corporations and retained earnings can complicate proceedings, and when courts may (or may not) consider those amounts as marital income. The discussion explores legal precedents from In re Marriage of Ryman, Heroy, Gosney, Lugge, Joynt, and Talty, emphasizing the real-world impacts these rulings have on families navigating asset-heavy divorces.

Whether you're dealing with hidden income, high net-worth negotiations, or professional goodwill, this episode empowers you to better understand your financial position during divorce. Learn how future income, including stock options and passive gains, can affect your divorce outcomes—and why knowing the rules can make or break your financial future.

Law Office of Russell D. Knight

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