How Property Is Divided in an Illinois Divorce Case
If you follow the tabloids and Hollywood divorces, you might mistakenly believe that property is automatically divided 50/50 in a divorce. While that it is true in community property states like California, it is not true in Illinois.
Tax Discounts on Valuations of Pass-through Entities
In the area of business valuation, the experienced practitioner should know as much, if not more, of the lingo than the competition. The seasoned attorney will know enough to size up his/her expert so the court does not dismiss a valuation as inherently unfair.
Features
Recession Keeps Family Lawyers Busy
Lawyers who specialize in divorce and custody disputes say they have witnessed a flood of activity in family courts in recent months due to the state of the economy.
Discovering the Illegible
At one time or another, most attorneys handling litigated custody disputes have obtained evaluators' notes, only to find them to be undecipherable. It is the author's position that when this occurs, evaluators bear the responsibility for having their notes transcribed at their own expense.
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NY Tax Law May Have Far-Reaching Effects
Franchisors and franchisees will be heading into uncharted territory in New York state when a new law takes effect in December 2009 requiring that every franchisor must provide the Department of Taxation and Finance with contact information and extensive sales and tax data about each franchisee that is operating in the state.
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Case Notes
Recent rulings of interest to you and your practice.
Appeals Court Upholds Lopsided Award Against Ford Motor Co.
In July, an appeals court upheld a product liability verdict against Ford Motor Co. for $8 million in compensatory damages and $42,050 in punitive damages.
Practice Tip: A Primer on Preserving Statute of Repose Defenses
From the first year of law school, attorneys know that one of the first things they must determine when responding to a complaint is whether the claims are time-barred, either by an applicable statute of limitation, or statute of repose.
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