Navigating the complexities of divorce while ensuring the protection of one’s family and financial future is a crucial aspect of the legal process. And, parents are particularly concerned about their children. Our family lawyer Wheaton can help you understand how marital assets and income factor into child support. The Law Office of Tania K. Harvey is dedicated to making sure clients have the outcome that they want and that they deserve. Contact us today for a free consultation at 312-803-5845.
Marital Assets and Income in Relation to Child Support
When it comes to addressing child support obligations during a divorce, the determination of income and assets plays a significant role in ensuring fair and just outcomes. A recent Illinois Supreme Court decision, Marriage of Dahm-Schell (Ill. Sup. Ct. 2021), shed light on the definition of “income” for the purpose of calculating child support or spousal maintenance obligations. The case clarified that even funds derived from a non-marital inheritance should be considered as income when determining support obligations.
The ruling in Marriage of Dahm-Schell underscores the importance of a comprehensive evaluation of all financial resources, including both marital and non-marital assets, when calculating child support payments. That is why it is essential to have an experienced family lawyer Wheaton on your side. Our legal team knows how important an accurate analysis of all financials can be in supporting your child now and in the future.
In this particular case, the court recognized that funds stemming from a non-marital inheritance could impact a party’s ability to contribute to the support of their children or ex-spouse. By broadening the definition of income to encompass various sources of funds, the court sought to ensure that support obligations are based on a thorough assessment of the financial circumstances of each party.
More about assets and income in divorce
In the context of divorce and child support, it is crucial to understand the implications of the Dahm-Schell decision on the treatment of marital assets and income. The ruling serves as a reminder that all financial resources, whether acquired during the marriage or brought into the union through inheritance, must be considered when determining support obligations. This comprehensive approach aims to promote fairness and equity in the distribution of financial responsibilities following a divorce.
For clients navigating divorce proceedings, particularly those involving child support matters, seeking guidance from an experienced family lawyer Wheaton, like those at The Law Office of Tania K. Harvey is essential. By working with knowledgeable attorneys who understand the nuances of family law and the evolving legal landscape, clients can navigate the complexities of asset division and income determination with confidence.
Contact our Family Lawyer Wheaton today for a Free Consultation
It is essential that you understand what income and assets you have and what role they play in determining child support. The Marriage of Dahm-Schell case highlights the importance of a holistic approach to evaluating marital assets and income in the context of child support obligations.
By recognizing various sources of funds, including non-marital inheritances, as income for support calculation purposes, courts strive to ensure that the financial needs of children and spouses are met adequately. For individuals seeking guidance in this area, consulting with our family lawyer Wheaton, who prioritizes client empowerment and participation in the legal process, is key to achieving a fair and equitable resolution.
In addition to providing top notch legal services, our firm seeks to empower clients by giving them a voice throughout the proceedings. By prioritizing the goals of their clients and ensuring they are actively involved in the decision-making process, The Law Office of Tania K. Harvey aims to safeguard the interests of families facing divorce.
