When a divorce occurs, the division of marital and financial assets is a necessary step in the divorce proceedings. Social Security benefits may come into play in certain jurisdictions when other assets are divided. Government employees can put money into their government pension plans without contributing to Social Security.  This makes a percentage of their pensions a legitimate Social Security substitute that is considered a marital asset that can be divided in a divorce.

Many people consider their dogs and cats members of the family, not property, and custody of the pets can become a major issue in the divorce proceeding.  As of January 1, 2018, a new Illinois law was passed that treats pets more like children and allows couples more options to come to a compromise when it comes to pet custody.

With all the stress, time, and effort that goes into the divorce proceeding, it is easy to overlook the effects of the divorce on the children.  Children are vulnerable to stress from a divorce because they are witnessing the splitting of their family, often for reasons that they do not know or understand.  The situation can be especially stressful if one parent engages in parental alienation.

The 2017 Tax Act has changed the 529 Plans in ways that benefit the account holder. With these plans, an account holder can save money for a beneficiary to help pay for college tuition and post-secondary training, as well as tuition for elementary and secondary schools. Read more …

On January 25, 2018, the Hoffman Estates Chamber of Commerce & Industry held its seventh annual Celebration of Excellence Awards Dinner. Allen Gabe Law, P.C. was announced as the winner of the Small Business of the Year Award.

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