economic issues

Question 1

what is the doctrine IL uses for property distribution

Answer 1

Equitable distribution

Question 2

2 things to do for property distribution

Answer 2

1) categorize each property

2) apply relevant law to distribute

Question 3

separate property distinctions

Answer 3

1) OWNED by 1 party b4 marriage
2) any gift or inheritance during marriage given in their OWN NAME
3) appreciation: increase of value of separate property

Question 4

does a person have a right to claim of reimbursement for other persons appreciation of property

Answer 4

yes/

- if other part gave money to the other parties appreciation of value of property, they have right to that

Question 5

what is marital property

Answer 5

everything else besides

1) OWNED by 1 party b4 marriage
2) any gift or inheritance during marriage given in their OWN NAME
3) appreciation: increase of value of separate property

Question 6

does it matter who bought the marital property or with what money

Answer 6

DOES NOT MATTER whose money bought it or whose name and title it is under

Question 7

how to determine who gets marital property (factors)

Answer 7

completely discretionary

1) age and health of spouse
2) education, job skills, earning capacity (job, how long been out of job)
3) if 1 has custodian of children
4) obligation of previous marriage
5) any debts and who incurred and what type of debts
6) duration of marriage

Question 8

do courts look at marital fault for distribution

Answer 8

NO

- fault is ignored

Question 9

real name to use for alimony

Answer 9

spousal support

• same factors as property distribution
• not meant to penalize, only to support person

Question 10

the 4 types of spousal awards

Answer 10

1) permanent periodic payment
2) lump sum
3) rehabilitative alimony: limited time linked to program of education or training
4) reimbursement: ex: where spouse paid for tuition of other spouse

Question 11

permanent periodic payments

Answer 11

monthly checks, indefiently

- can have a subsequent modification

Question 12

when to allow subsequent change in both child support and spousal support

Answer 12

subsequent modification: substantial change in circumstances

Question 13

when does permanent periodic payments end

Answer 13

• terminate on death of either party

- terminate on remarriage

Question 14

are lump sum spousal supports modifiable

Answer 14

NO