KW Economics prepares financial analyses for divorce and marital dissolution matters venued in Illinois: income available for support, the value of business interests in the marital estate, and the tracing of separate and marital funds, each presented so that either spouse or the court can examine the figures.
A divorce or marital dissolution matter asks what income each spouse has available for support, what the marital assets, including any business interest, are worth for the division of the estate, and which assets are separate rather than marital. Each is answered from the business books, tax returns, and account histories rather than from the tax return alone. Read the full divorce and marital dissolution analysis guide.
Illinois courts ask whether the methodology behind an expert opinion is generally accepted in the relevant professional community, and separately whether the economist is qualified by training and experience and applied the method to the facts of the case. Forensic economic methods for lost earnings, worklife, and present value are published and long used, so the examination usually turns on the inputs and their support in the record.
Highest court: Illinois Supreme Court. Federal venues: N.D. Ill., C.D. Ill., S.D. Ill. Court system: illinoiscourts.gov.
Whether Illinois divides marital property equitably or as community property, which valuation date applies, how income available for support is defined, and how the goodwill of a professional practice is treated are questions of law that counsel confirms; the report presents each finding so it can be applied under either party's position.
The same four steps apply to a divorce and marital dissolution matter venued in Illinois; the governing framework in Illinois decides how each finding is applied.
Divorce and Marital Dissolution cases venued in Illinois are heard in the Circuit Court (General jurisdiction; 25 judicial circuits across the state, including the Circuit Court of Cook County). Final appeals run to the Illinois Supreme Court. Matters within federal jurisdiction proceed in the United States District Courts for the Northern District of Illinois, Central District of Illinois, and Southern District of Illinois.
Whether Illinois divides marital property equitably or as community property, which valuation date applies, how income available for support is defined, and how the goodwill of a professional practice is treated are questions of law that counsel confirms; the report presents each finding so it can be applied under either party's position. Illinois courts ask whether the methodology behind an expert opinion is generally accepted in the relevant professional community, and separately whether the economist is qualified by training and experience and applied the method to the facts of the case. Forensic economic methods for lost earnings, worklife, and present value are published and long used, so the examination usually turns on the inputs and their support in the record.
Request a consultation on divorce and marital dissolution cases in Illinois or call (201) 343-0700. Plaintiff and defense counsel.