Imputing Income In An Illinois Divorce - Russell D. Knight

From Law Office of Russell D. Knight – In this podcast, we dive into the complexities of "Imputing Income In An Illinois Divorce," exploring how the Illinois divorce court handles situations where a spouse may be hiding or underreporting their income. Divorce proceedings often hinge on a few key numbers, including the income of each party, which plays a critical role in determining child support, maintenance (formerly known as alimony), and other financial obligations. We'll break down the legal processes used to uncover hidden income through forensic accounting and how the Guardian Ad Litem helps to reveal the true parenting time arrangement.

A common issue in Illinois divorce cases is one party voluntarily underreporting their earnings to lower financial obligations. In this episode, we discuss how the Illinois Marriage and Dissolution of Marriage Act allows the court to impute income to a spouse when they are voluntarily unemployed or underemployed. We also explore when the court may consider a spouse’s previous earnings or determine their potential income based on work history, qualifications, and prevailing job opportunities.

We'll also cover the role of vocational assessments in more challenging cases where past earnings are unclear or disputed. While courts may rely on minimum wage calculations for non-working spouses, proving that someone can and should be earning more requires careful legal strategy. Hiring a vocational professional can be a costly but necessary step to ensure that income imputation is accurate and fair, making a significant impact on the outcome of a divorce settlement.

If you are facing a divorce in Chicago and suspect that your spouse is hiding income or deliberately underemployed, tune in to learn how you can navigate these challenges in an Illinois divorce court. Contact the Law Office of Russell D. Knight for a consultation and to discuss your unique situation further.

Law Office of Russell D. Knight

1165 N Clark St #700, Chicago, IL 60610, United States

(773) 334-6311

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