Crypto Divorce Lawyer

Dividing assets is a standard part of any Illinois divorce case. At Masters Law Group, our skilled cryptocurrency divorce attorneys track down these digital assets and negotiate an appropriate and fair division.

While some cryptocurrencies are easily found during the discovery phase of divorce proceedings, others, such as bitcoin, can be more challenging to find, particularly when they are private. If you have an impending divorce on your hands, you need to know how to find, value and divide them.

If you or your spouse own cryptocurrency, you are going to want to make sure it is discussed with your divorce attorney. It may be a marital asset that needs to be valued and divided; but due to cryptocurrency wildly fluctuating, it can sometimes be problematic to value, and therefore split fairly.

Here’s what you need to know about handling bitcoin and other cryptos in divorce.

A QUICK RECAP OF CRYPTOCURRENCY

The use of cryptocurrency varies user to user. Some people prefer to use cryptocurrency for online purchases to ensure secure financial transactions. Others might use it simply to capitalize on discounts or rewards offered for the use of digital currencies.

The most popular form of cryptocurrency is Bitcoin. Some examples of other digital currencies are Litecoin, Ethereum, Ripple, Zcash, Bitcoin Cash, and Cardano. Digital currency is bought, sold, and traded on various platforms. Coinbase is a popular platform used for Bitcoin. Some other digital currency exchange platforms are Kraken, BitStamp, ShapeShift, Gemini, and Bisq.

Cryptocurrencies are validated by a blockchain. This refers to a list of records called blocks that are linked together like a chain. Blockchains are designed to be secure. The foundation of a blockchain is a “decentralized database.” Blockchains can include a piece of information called a hash.

It is very important to know if any parties in a family law matter have cryptocurrency. Cryptocurrency can be a marital asset eligible for division in a divorce. If you know cryptocurrency exists, it will need to be valued. Cryptocurrency has an exchange rate just like standard currency and it can be converted into U.S. dollars. There are programs on the internet that can assist with the conversion of cryptocurrency to dollars. It may be helpful to know which conversion rate program that cryptocurrency owner utilizes.

LOOKING FOR CRYPTOCURRENCY

Valuation presents the primary difficulty when two people need to divide digital currency. Cryptocurrency assets are notorious for sharp shifts in value over short periods of time.

Figuring out whether or not cryptocurrency exists is important. Have you discussed cryptocurrency with your spouse? Have you overheard them boating to their friends about their crypto wallet? Will bank account statements or credit card statements show deposits or withdrawals from a digital currency platform? Are there emails or other correspondence that contain information about cryptocurrency?

If any of these are true in your marriage or divorce, you should notify your attorney immediately. Your attorney will need to start collecting information about the cryptocurrency. Obtaining documentation about cryptocurrency can be tricky because often the point of cryptocurrency is for transactions to remain private or secure.

First, it needs to be determined if the cryptocurrency owner has a wallet and whether that wallet is online or is a physical device. The wallet will have an ID and a password for logging which can be requested in discovery. Wallets can be similar to a portable hard drive and be an actual physical item. In other instances, the wallet may just be online and through one of the cryptocurrency exchange platforms. Different steps need to be taken to preserve information from both kinds of wallets.

An owner can usually download a transaction history from his/her wallet or exchange platform. The transaction history is often downloaded as an Excel spreadsheet or other electronic document. The download contains information like a bank statement such as date, time, amount of cryptocurrency, conversion rate, balance, transaction ID, and hash information.

Most transactions will show some sort of confirmation of purchase. Often the confirmation occurs via email and serves as a receipt. The confirmation may include the conversion rate, dollar amount, and a date and timestamp. In some instances, the confirmation may identify where the cryptocurrency user deposited the funds after sale or where they withdrew the funds from to make a purchase. This can help you in the long run to identify other assets.

Cryptocurrency Division

After identifying crypto as a marital asset and considering its valuation, you have four main options for dividing the assets in  question:

  • Simple Division: In this approach, you simply receive a share of the cryptocurrency in its current form.
  • Custodial Holding: Should you not wish to set up a cryptocurrency account, you may find the custodial approach suitable. A third-party custodian who can transact in cryptocurrency receives your share and holds it until the divorce is final.
  • Cryptocurrency Owner Liquidation: The former spouse who owns the asset will convert the other party’s share to cash. The digital currency’s value on the day of sale determines how much money you receive.
  • Liquidation With No Claim Upon Remaining Cryptocurrency: This approach starts the same as #3. However, both parties have agreed in advance that the original owner of the cryptocurrency now has full title to the remaining asset and does not owe the former spouse any more of the cryptocurrency regardless of how its value may change in the future.

Choosing how to distribute cryptocurrency in a divorce requires careful evaluation. You may need to weigh advice from your divorce attorney to arrive at the best solution for your unique case.

FINAL THOUGHTS

These days, bitcoin and other cryptocurrencies are all the rage. As such, the issue of bitcoin is bound to pop up in divorce cases.

Lack of familiarity with cryptocurrency or outright discomfort with it add another wrinkle to divorce negotiations. Which is why it is important to make sure that bitcoin is properly discovered and valued in family law matters. If you know or suspect that cryptocurrency will be a part of your divorce, talk to your family law attorney immediately and put together a game plan for dealing with it. This may include a plan for how to explain how cryptocurrency works with other parties or professionals in your case.

If you are concerned about how your or your spouse’s cryptocurrency assets could affect your divorce or the asset division process, Masters Law Group can help. Our team of highly trained and experienced attorneys are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.

Masters Law Group Recognized in the 2023 Edition of “Best Lawyers in America”

Masters Law Group is a Chicago family and divorce law firm focused on solving problems and achieving the best possible result for our clients. We’re proud of our industry achievements, now including being recognized for professional excellence in the 29th edition of The Best Lawyers in America® in two categories.

As part of the 2023 selection of distinguished firms, Masters Law Group was regionally ranked in two practice areas, Family Law and Family Law Mediation. 

Best Lawyers in America is the oldest and one of the most respected peer-review publication in the legal profession. Best Lawyers lists are compiled based on exhaustive peer-review evaluation. Lawyers are not required or allowed to pay a fee to be listed; therefore inclusion in Best Lawyers is considered a singular honor.

This recognition honors the professional accomplishments of the top tier legal talent in the country who were selected by their peers through Best Lawyers’ rigorous and peer-reviewed selection process. More than 12.2 million evaluations were analyzed, resulting in the recognition of only 5.3% of lawyers in the United States. Achieving this recognition signals a unique combination of quality law practice and breadth of legal expertise.

Masters Law Group is delighted to once again receive such recognition. 

About Masters Law Group

Located in Chicago, Illinois, Masters Law Group handles family law matters in Cook County and surrounding counties. Masters Law Group concentrates in the area of domestic relations, which includes divorce, allocation of parental responsibilities, child support and related family matters.

Our recent recognitions in Family Law and Family Law Mediation highlights our experience, dedication and talent in these fields.

Our Attorneys

Best Family Law Attorney

Erin E. Masters (Attorney / Family Law Mediator) and Anthony G. Joseph (Attorney / Guardian Ad Litem/Child Representative) both have extensive experience and knowledge in family law and family law mediation.

Ms. Masters’ recent recognitions include in Family Law and Family Law Mediation, and has represented a variety of clients, both pre-decree and post-decree. 

“We are honored that Masters Law Group has been recognized by Best Lawyers® for the sixth consecutive year.” commented Managing Partner Erin Masters. “We thank all our fellow attorneys in the Chicago Metropolitan area for including us in this prestigious list as well as our attorneys and staff for their hard work and dedication in serving our clients.”

In addition to representing clients, Ms. Masters is also a court-appointed Child Representative and has experience advocating for children in these high-conflict matters. Further, she has also been appointed by the Circuit Court of Cook County to mediate complex family law cases.

2023 Best Lawyers

Anthony G. Joseph has been recognized for his excellence in Family Law and is an active trial lawyer whose practice focuses exclusively on Family Law and on the list of approved Guardian Ad Litem/Child Representatives for the Domestic Relations Division of the Circuit Court of Cook County. He has an emphasis on International Child Abduction and cross-border custody issues pursuant to the Hague Convention of 1980 and the UCCJEA. Mr. Joseph also publishes in the area of civil litigation.

WORK WITH THE BEST

With a long history of awarded recognitions in Family Law, Masters Law Group LLC has a unique depth of knowledge, experience and talent in the Family Law and Divorce field.

Masters Law Group is dedicated to understanding your individual needs and helping you work through stressful situations in the Family Law and Divorce fields. They move through settlement negotiations, mediation or litigation with their clients’ assurance and well being in mind.

Schedule a consultation here to speak with an experienced attorney regarding your family law matter today.

 

 

International Child Custody: How Masters Can Help

Every year, children are wrongfully removed from the United States or retained outside of the U.S. in violation of parental custody rights. Whether trying to identify risk factors or your child/children have been removed from their habitual residence, knowing your legal options through The Hague Convention could prove detrimental in protecting victims involved. 

When Illinois courts determine custody arrangements, they ultimately consider the best interests of the child/children involved. However, what are often relatively simple custody matters can quickly become complicated when one parent moves out of the state or out of the country. Especially unlawfully.

If you need legal representation to protect your rights or the rights of your child, we can help. At our downtown Chicago law office, we represent parents and children in a variety of complex international custody disputes. Here’s what you need to know.

Negotiating International Child Custody Disputes

Parents who wish to move out of the country may do so by seeking a custody modification just as they would if they were moving out of state. Complications arise when a parent moves out of the country before a custody order is finalized or when a parent does so in violation of an existing order. When a parent moves out of the country in direct violation of a custody order, he or she is committing international parental child abduction.

The Hague Convention on the Civil Aspects of International Child Abduction provides an expeditious method to return a child internationally abducted by a parent from one member country to another. The powerful international treaty that can yield beneficial results when it is implemented correctly and appropriately.

The Hague Convention

Many countries subscribe to the Hague Convention, which facilitates reciprocal agreements when it comes to custody. Although the Hague Convention does not ultimately decide custody cases, it does determine which jurisdiction or which country should hear the case. Generally, this is where the child had established familiar roots before his or her removal or abduction or, as the Convention calls it, the child’s “habitual residence.”

Because many countries do not have formalized laws regarding international child abductions and because there are so many variables involved with each case (such as whether or not both parents want custody), there are no hard-and-fast rules for international child abduction cases. Each situation must be evaluated on its own merits and in light of that particular nation’s laws and regulations regarding custody matters.

International parental abductions of U.S. children have been reported in countries all over the world, including Australia, Brazil, Canada, Colombia, Germany, India, Japan, Mexico, Philippines, and the United Kingdom. A parent who is left behind when a child is abducted to another country faces daunting obstacles to finding and recovering the child.

A History of Success Serving Clients In Illinois and Internationally

Masters Law Group has extensive knowledge and experience with The Hague Convention which provides that a parent whose child has been wrongfully removed from or retained in the United States may petition for the child’s return to his or her country of habitual residence. 

Our clients span across the entire United States, from Washington to Wisconsin; so you can rest assured knowing the experienced Masters Law Group attorneys are fighting for you and your family. Our attorneys understand the laws in these highly sensitive cases. Their priority is to ensure the kids return to safety and that they have the opportunity to exert their rights and obtain justice. 

Here are just a few of our featured Huage Cases:

How Our Firm Can Help

If you are in need of an international child abduction lawyer, we can help. The legal system is a complicated and confusing place. That’s why we’re here—to make sure that you understand your rights and options, so that you can make the best possible decisions for your family.

We can represent you if:

  • You live in the United States and your child has been abducted into a foreign country.
  • You live anywhere in the world and your child has been abducted into the United States.
  • You have been accused of international child abduction and need a lawyer to protect your parental rights.

We will carefully examine the facts to determine the strength of your case. We will give you straightforward advice so that you know exactly where you stand in the eyes of the law.

To learn more about your options, contact us to schedule a one-on-one appointment with our experienced lawyers, Erin E. Masters and Anthony G. Joseph. We understand that your children are your top priority. We will work aggressively to advocate on their behalf.

Contact Masters Law Group Today

Illinois is a community property state, which means that all of the marital property is divided equally between the spouses. This can have a significant impact on child custody arrangements, especially if one spouse intends to leave the state or country.

If you have found yourself in a situation where your former spouse has unlawfully fled the country with your child, you should contact your attorney right away. At Masters Law Group, we can handle the process of contacting domestic and international governments to ensure that your rights are being protected.

Our attorneys have extensive knowledge and experience with The Hague Convention on Civil Aspects of International Child Abduction (“The Hague Convention”) that was enacted into law through the International Child Abduction Remedies Act (“ICARA”). Our experienced attorneys will provide you with detail-oriented representation as each case is unique. Contact our Chicago office to schedule a consultation today.

Chicago’s #1 Divorce Law Firm

Whether you are going through a divorce, a child custody dispute, or other family law issue, you want to find the best family law attorney for your situation. Today we’ll tell you why we’re the #1 premier family law group in Chicago for those facing divorce.

As the vows are read aloud, no one anticipates a future divorce. Whether you’ve been married 50 days or 50 years, situations change, people change, and life simply doesn’t work out how you imagined it. And that’s ok.

Marriage and divorce are both common experiences for adults, although both can be challenging. About 90% of people in Western cultures marry by age 50. In the United States, about 50% of married couples divorce, the sixth-highest divorce rate in the world. Subsequent marriages have an even higher divorce rate: 60% of second marriages end in divorce, and 73% of all third marriages end in divorce.

So if you find yourself in the extremely tough position of ending your marriage, you need the right support on your side. There are many legal professionals to choose from, so it’s crucial to know what to do and who to ask for help.

A Little Bit About Masters

A premier family law group servicing Cook, Will, Lake, and Dupage counties, Masters Law Group LLC is a Chicago-based law firm that has a unique depth of knowledge, experience and talent in the Family Law and Divorce field

Masters Law Group’s dedicated attorneys have a unique depth of knowledge, experience and talent in the Family Law and Divorce field. including DuPage, Will and Lake. 

Our downtown firm and attorneys have won many awards for their work, including but not limited to, Best Law Firms by US News for years 2021 and 2022, Leading Lawyers recognizing Erin Masters, Super Lawyers recognizing Anthony G. Joseph, The Top 100 Lawyers, and the 10 Best Attorneys for client satisfaction.

As of last week, we have been formally recognized as 2023 Best Lawyers!

BEST LAWYERS 2023

Simply put, our commitment and dedication to clients is simply unmatched.

Let’s take a further look at our attorneys, and what we do best.

Our Attorneys

As you can see, our award-winning attorneys are highly experienced in their field of work. Especially when it comes to divorce in the state of Illinois.

Erin E. Masters is the principal of Masters Law Group, located in Chicago, Illinois. Masters Law Group concentrates in the area of domestic relations, which includes a heavy focus divorce and the relative legal subsidiaries that span from divorce (such as Divorce Mediation, Parenting Time, Allocation of Parental Responsibilities and Post-Divorce Disputes).

Erin E. Masters

Ms. Masters earned her Bachelors of Arts degree in Psychology from the University of California, San Diego, where she attended on a merit based scholarship. She would go on to receive her Juris Doctorate and Certificate in Child and Family Law from Loyola University of Chicago, School of Law, in May of 2004.

Erin was admitted to the Illinois Bar in November 2004 and to the General Bar for the United States District Court for the Northern District of Illinois in 2005 and the United States District Court for the Eastern District of Wisconsin in 2020. Ms. Masters was admitted to the United States Supreme Court in March 2009.

Throughout her career Ms. Masters has represented a variety of clients, both pre-decree and post-decree. In addition to representing clients, Ms. Masters is also a court-appointed Child Representative and has experience advocating for children in these high-conflict matters. Further, she has also been appointed by the Circuit Court of Cook County to mediate complex family law cases.

Anthony G. Joseph is a senior and founding attorney at the firm and received his B.A. degree in Global Economic Relations from the University of the Pacific in Stockton, CA.

He obtained both his J.D. degree and Certificate in Trial Advocacy from The John Marshall Law School in Chicago, Illinois.

Mr. Joseph was admitted to the Illinois Bar in November 2010, the Federal General Bar and Trial Bar for the United States District Court for the Northern District of Illinois in 2012 and the United States District Court for the Eastern District of Wisconsin in 2020.

Anthony G. Joseph

Furthermore, Anthony is an active trial lawyer whose practice focuses exclusively on Family Law, with a particular emphasis on International Child Abduction and cross-border custody issues pursuant to the Hague Convention of 1980 and the UCCJEA. Mr. Joseph also publishes in the area of civil litigation.

Mr. Joseph is “AV” Preeminent Rating from Martindale-Hubbell Peer Review, which is the highest peer review rating available and has been named a “Rising Star” by Illinois Super Lawyers in both 2019, 2020 and 2021. Mr. Joseph is also on the list of approved Guardian Ad Litem/Child Representatives for the Domestic Relations Division of the Circuit Court of Cook County.

Karly Armstrong is an associate attorney at Masters Law Group, she received her B.A. in Political Science & Interdisciplinary Social Sciences – International Studies from the State University of New York at Buffalo in 2016 and graduated magna cum laude. 

Throughout her time at the State University of New York at Buffalo, she was in the advanced honors program and wrote her undergraduate thesis on Middle Eastern women’s rights movements.

Karly Armstrong

Karly received her J.D. from Loyola University Chicago School of Law in May 2021. At Loyola, she was on the ABA Negotiations Team. She also was a student clinician at the Loyola Community Law Center where she served as a Guardian ad litem in contested minor guardianship proceedings. Karly took her Illinois bar exam in July 2021 and passed. She has been admitted to the Illinois bar since November 2021.

Karly is proactive in helping those who are seeking advice when it comes to divoce in the state of Illinois.

What Does a Divorce Attorney Do?

Divorce lawyers provide advice on marriage termination, including dividing assets, custody, and the options available to the client under the law. When looking for a divorce lawyer, word-of-mouth referrals from friends, family, and other professionals are a useful place to start.

Seeking out attorneys who specialize in areas such as custody or division of assets can also be beneficial.

Masters Law Group understands that divorce is a stressful situation and that our clients want to move on with their lives. As such, we move through settlement negotiations, mediation or litigation with our clients’ assurance and well being in mind.

Divorce cases involving substantial assets or complex estates require specialized knowledge.  Masters Law Group is skilled at identifying and valuing assets and wealth, including real estate, securities, business interests, retirement funds, pension plans, tax shelters (domestic and foreign), overseas accounts, stock options, trusts and other actual or potential sources of wealth.

Let’s Get to Work

We understand everyone’s individual needs are different, which is why our first step is getting to know you and understanding your unique situation. 

Whether you are facing a contested divorce, civil union, or series of different divorce-related issues, our firm’s attorneys are ready to skillfully advocate for your position and provide your voice when you need it most. Contact us today to schedule a consultation.

I Need a Divorce. Help!

If your marriage is in question, you may be the one who is deciding “Should I stay or should I go”? While the process can seem overwhelming, there are things you can do to get through this difficult adjustment. If you’ve decided divorce or separation is the only way forward, here’s what you should know.

If you have decided to get divorced, you may have concerns about the cost, time commitment, and stress associated with the process. Which is why Masters Law Group works tirelessly in order to make the divorce process easier on you, for you and your children.

If possible, an amicable relationship with your ex can lead to a more straightforward divorce, because it won’t (usually) involve going to trial. An amicable or somewhat amicable divorce will often result in a quick(er) divorce.

As an ordeal that can be draining mentally and financially, it’s important to be prepared. Whether you are in search of Divorce Mediation, a Contested Divorce, Uncontested Divorce or Legal Separation, here’s what you need to know.

Is a Quick Divorce Possible?

Divorce is a stressful experience, and it’s important to get through it as quickly as possible in order to mitigate stress on everyone involved. Especially the children. The divorce process does not have to take years or even months. If you’re able to come to an agreement with your spouse about custody, visitation, spousal support, and division of property, your divorce can proceed through divorce court rather quickly.

The easiest type of divorce, which takes the least amount of time, is called an uncontested divorce. In Illinois, this is also referred to as “dissolution of marriage”. This relatively fast divorce happens because all of the major issues have been agreed upon by you and your spouse. Both parties agree on all the key terms of the divorce, including: Dividing marital property, Child custody and Parenting Time schedule.

Do Uncontested Divorces Take Less Time Than Contested Divorces?

A contested divorce is one where the parties cannot agree on some or all issues. It may involve a trial, and it may involve lengthy settlement meetings. It may also involve digging into your spouse’s finances, which takes a lot of time and energy.

There are many reasons why divorce can be contested. Typically, one party feels that they have not been treated fairly in some way during the divorce process and wants to fight for what they feel is their right. If you are going through a contested divorce, it is important to know what your options are so that you can make an informed decision about how to proceed with your case.

An uncontested divorce, however, takes a lot less time because you agree with your spouse on various issues. Here are a few examples:

  • Custody
  • Visitation
  • Child support
  • Spousal support
  • Division of assets
  • Life and health insurance policies

In the long run, an uncontested divorce will save you time and money in legal fees, will reduce stress, and will get you through the court system much faster than a contested divorce.

Divorce Mediation

Anger. Resentment. Bitterness. These are some of the feelings that many people associate with family law issues. It is often true that litigation – the traditional mode of dispute resolution – breeds these kinds of feelings. Fortunately, there are other ways to deal with family disputes that lead to much happier, healthier results: Mediation.

Mediation is considered an alternative dispute resolution process where an impartial or neutral mediator helps guide you and your spouse in settlement efforts – hopefully helping you reach a final agreement.  Unlike judges, a mediator has no authority to make decisions for you or your spouse. Their job is to keep you and your spouse’s focus on your needs and interests instead of fault and rights.

When a couple begins divorce mediation, they either choose the mediator in advance or one may be appointed by the court, with the court deciding how to split the costs.  Both spouses provide documentation to support their viewpoint regarding disputed issues, while the mediator works with both sides to find a resolution. The goal of the mediator is to reach an agreement between the two parties, therefore it is critically important to work with your divorce mediator attorney to ensure that the proposed solution is truly fair and equitable to you.

Legal Separation

Your first thought may immediately go to divorce, and that is understandable due to it being the most common approach to seemingly irreconcilable differences. However, you have another option that is less permanent that is worth considering. There is a large difference between deciding to be physically separated from your spouse and legally separated from them.

A divorce means your marriage is 100% legally over, the court can assist in determining the allocation of parental responsibilities, parenting time, and child support. The court can also determine spousal support and divide property. Couples that have decided they can’t reconcile may be ready for an immediate divorce. However, even if you believe you will ultimately file for a divorce, a legal separation is worth to consider.

A legal separation is a less permanent option, meaning you’re living apart but still legally married. If you don’t think you can live with your spouse, you can file for legal separation. Obtaining a legal separation does not prevent you or your spouse from obtaining a divorce later. Legal separation is less emotionally taxing than divorce because the permanence of a divorce isn’t there which still allows for the legal relationship to exist between the married couple. The court can order a separation between you and your spouse, and it would include similar aspects to a divorce such as allocation of child support and custody arrangements.

Getting Started

Part of divorcing is figuring out who gets what. A good place to start is to make a list and keep proper documentation of personal items that belong only to you, such as jewelry, family heirlooms, or photos and papers that have special meaning to you. If necessary, give these items to a trusted family member or friend for safekeeping.

It’s essential to have your financial paperwork organized and in one place, such as a file or binder. Start by collecting and making copies of your legal documents, including:

  • Marriage documents: Agreements and marriage license
  • Tax returns: Federal and state tax returns for the past five years
  • Real estate: Deeds, appraisals, cost basis of home, mortgages, rental property records
  • Business documents: Receipts, tax returns, payroll information, and any registrations, patents, or trademarks
  • End-of-life plans: Will, power of attorney, advance healthcare directive

If you have trouble finding any documents (or your spouse is making it difficult), your attorney can help.

Do You Need an Attorney for Divorce?

Hiring an experienced legal advocate that is well-versed in family law will be the best option for you moving forward. They can help explain this process to you and is the greatest way to ensure the best possible outcome that is custom and unique to your family’s situation.

Illinois Legal Aid Online provides a  guided interview that will ask you a series of questions related to this topic and then the program will complete the forms for you. It is free to use.

To see the overall process of getting a divorce in Illinois when you have children, please  click here.

Masters Law Group understands that divorce is a stressful situation and that our clients want to move on with their lives. As such, we move through settlement negotiations, mediation or litigation with our clients’ assurance and well being in mind. Whether you are facing a contested divorce, uncontested divorce, or civil union divorce, our firm’s attorneys are ready to skillfully advocate for your position and provide your voice when you need it most. Contact us today to schedule a consultation.

Back to School: 5 Tips for Co-Parenting

Back to school comes with a lot of nerves and excitement for children and families. For parents who are separated, in the middle of a divorce, or already divorced, co-parenting with your ex can be a challenge.  At this time of year, however, your children need you to put aside your animosity in order to make their school year a success.

After a divorce, working with your child’s other parent may be uncomfortable, to say the least. But making the effort to cooperate with your co-parent and your child’s school set-up can make things easier for everyone. That’s especially true now, with emerging strains of COVID-19 and now Monkeypox concerns clouding parents’ vision of the 2022-2023 school year.

We know it can be hard to get on the same page with your ex. We also know that you want what’s best for your children—and that means being able to communicate effectively with each other in order to ensure they get the education they deserve.

Here’s what you should know about co-parenting this fall and a couple of tips to help you prepare for your child’s 2022-2023 school year.

Share Obligations for Back-to-School Shopping

As the school year approaches, it’s important to remember that back-to-school shopping is a shared responsibility. Shopping for materials and supplies can be costly, especially if you’re buying them for more than one child. Suppose you are co-parenting and are happy to help your children pick out new clothes and supplies. In that case, others may not be as excited about the process of buying “boring” mandatory necessities. Make a clear plan of who is buying what and when to ensure your child doesn’t miss out on those soccer boots or backpacks (plus, you’ll avoid duplication of expenses).

Keep a Predictable Parenting Time Schedule

Stay ahead of any anticipated disputes by designing, implementing, and complying with a detailed parenting plan. Creating a parenting schedule can be an emotional law topic and should have been set during your divorce proceedings. If this is not the case, it’s important for parent-child relationships to have consistency in their schedule, and therefore you need to set one immediately.

If you are co-parenting, it helps both parties to keep track of the child’s activities. For children, it helps give them a sense of routine, security, and certainty which is an important part of healthy child development.

Inform Your Child’s School of Your Co-Parenting Arrangements

When your kids start a new school year, it’s important to make sure that the school knows who they should talk to in case of emergencies. And even more importantly, who they should release their children to after school? At the start of each school year, provide the principal at your children’s school with a copy of your child custody and parenting order. This is especially crucial if your parental responsibilities order has been modified over the past year. This will put the school on notice about who they should talk to in case of emergencies and who to release their children to after school to avoid conflict.

Coordinate Events with Your Co-Parent 

It can be difficult to attend school functions when you’re divorced. Your co-parent may not want you to go, or they might want you to attend but won’t be there themselves. If this is the case, make sure your child knows who will be attending without making it seem like the non-attending parent didn’t want to go.

Sporting events, class plays, and class graduations are all important to your child and their development. They will ultimately suffer if you end up clashing at these important milestones. For their sake, try to cooperate with one another to attend school events together as a show of unity and support. If that isn’t a possibility, make sure your child knows who will be attending, so they’re not on the lookout for ultimate disappointment.

Set Expectations and Remember Your Priorities

The first few weeks of school can be a bit chaotic. It’s important to remember that it’s not just your child who is adjusting to new teachers, new classrooms, and new classmates—you are too!

When you are co-parenting and planning for your kids to go back to school, make sure you’re both on the same page. Back-to-school time opens a door for conflict, but conflict results in the child/children suffering.

You and your co-parent need to know what is expected of each other. Who is going to help with homework? Who will take your child to football practice? Maybe mom helps one child, and dad is responsible for helping the other. Maybe you take it in weekly or biweekly turns. There is no right answer, but whatever arrangement you and your co-parent decide upon should be detailed in your parenting plan to eliminate confusion in the future.

Allocation of Parental Responsibilities

If you STILL cannot come to a civil agreement on parenting time, the Allocation of Parental Responsibilities is an actionable step to set a new plan in place.

There are three basic types of child allocation of parental responsibilities in Illinois — joint allocation of parental responsibilities, sole allocation of parental responsibilities, and shared allocation of parental responsibilities:

  • Joint allocation of parental responsibilities requires parents to cooperate in decision-making regarding their child’s education and schooling matters (amongst other decisions such as health care and religious instruction). It does not mean that the children live with each parent for an equal amount of time. The parties will agree, or the court will assign a residential parent. The non-residential parent will pay child support and exercise parenting time. The amount of time the children spend with the non-residential parent is addressed in a parenting time agreement or order.
  • Sole allocation of parental responsibilities is the term that describes the arrangement that gives one parent the responsibility for deciding everything related to the child’s welfare. It does not mean that the other parent is out of the picture.
  • Shared allocation of parental responsibilities is a form of joint allocation of parental responsibilities. It is appropriate when the child spends equal time with each parent, the parents reside in the same school district and are able to joint parent.

How Masters Law Group Can Help

Masters Law Group LLC focuses on helping clients assert their rights to further the best interests of their children. Attorney Erin E. Masters is a court-appointed Child Representative and has experience advocating for children in these high-conflict matters. Attorney Anthony G. Joseph is also on the list of approved Guardian Ad Litem/Child Representatives for the Domestic Relations Division of the Circuit Court of Cook County.

We offer a variety of services to help parents, children, and families through difficult times like Divorce, Parenting Time, and Allocation of Parental Responsibilities. If you are in need of legal assistance, contact a member of our team today. Our attorneys will work with you to develop an action plan that is fair and fits your unique needs and goals. 

We will work diligently on your behalf and provide regular updates throughout the process. You can count on us when it matters most—and we hope that means now! Contact us today to speak to a qualified Chicago family law attorney to set up a free consultation with us.

The Muddy Waters of Financial Restitution Against Parental Abductors

In federal court, a convicted offender may be ordered to reimburse victims for financial losses incurred due to the offender’s crime. This reimbursement is called “restitution”. Parental International Child Abduction is against the law, however, the provisions of such cases are not crystal clear. Read on to learn more. 

Parental kidnapping on an international level is on the rise, and it has become a serious concern for many. We often wonder whether the law considers it a crime, and the answer is definitely “yes”.

Individual perpetrators may be held responsible for reparations in international criminal procedures, yet experiences to date demonstrate this to be an unlikely avenue for the majority of victims.

Under U.S. law, a left-behind parent whose child has been abducted to the United States can seek reimbursement from the abducting parent for the expenses incurred in seeking the child’s return. 22 U.S.C. §9007(b)(3).

However, there is no clear provision entitling a left-behind parent whose child has been abducted out of the United States to seek reimbursement from the abducting parent for the expenses incurred in seeking the child’s return to his or her home country.

Here’s what you need to know about financial restitution against parental abductors.

Gray Areas of Financial Restitution

Restitution is the practice of holding offenders accountable for the financial losses suffered by victims of their crimes. Restitution may be ordered in both juvenile and criminal courts to compensate victims for out-of-pocket expenses that are the direct result of a crime. When it comes to International Child Abduction cases through The Hague Convention, the Ninth and Tenth Circuits appear to disagree on whether federal law allowing restitution to crime victims can be used to recoup a left-behind parent’s legal expenses.

Examples of Financial Restitution

The Victim and Witness Protection Act of 1982 permits a federal district court to order a criminal defendant to pay restitution to a victim in an amount up to “expenses related to participation in the investigation or prosecution of the offense.” 18 U.S.C. §3663(b)(4). But as you’ll read below, on appeal, the Tenth Circuit overturned the restitution award.

In 2002, U.S. v. Cummings, 281 F.3d 1046,  the defendant’s father was convicted of violating the International Parental Kidnapping Crime Act (IPKCA) by abducting his children from their home in Washington State to Germany. 

The mother who was left behind brought a return action against the father under the Hague Abduction Convention and an action in Washington State for contempt of court for violating a custody order. The father was sentenced to jail time, ordered to pay the mother’s legal fees and expenses, and required to participate in counseling.

The Ninth Circuit affirmed the restitution award, holding that the mother’s civil cases were not “wholly separate” from the government’s prosecution of the father. This was supported by the fact that, by initiating a case under the Hague Convention, the mother had followed the procedure specifically described in the International Parental Kidnapping Crime Act as the preferred “option of first choice” for a left-behind parent.

In 2020, U.S. v. Mobley, 971 F.3d 1187, did not follow the Cummings verdict. In Mobley, the government prosecuted a mother under the International Parental Kidnapping Crime Act (IPKCA) for her abduction of her children from their home in Kansas to Russia. Once she was in Russia, she filed for divorce and custody; the left-behind father then sued for divorce and custody in Kansas. 

The Russia court had given custody to the mother, and the Kansas Court gave custody to the father. The district court found the mother guilty under the IPKCA and ordered restitution to the father of legal fees and expenses that he incurred in connection with both civil cases.

However, on appeal, the Tenth Circuit held that the trial court erred in awarding restitution under 18 U.S.C. §3663 because the expenses incurred were not related to the investigation or prosecution of the mother’s criminal offense. It held that these terms are limited to proceedings related to the government’s investigation or prosecution and those proceedings related to attendance at court related to such matters. 

The evidence showed that while there was no evidence that the government sanctioned or directed the father’s civil proceedings, there was also no evidence that his suit assisted in any way in the criminal prosecution against the mother.

Based on the analysis of the current state of international law, it is clear that the state has positive duties to prevent violations and demonstrate due diligence. But there’s a long way to go.

How Masters Law Group Can Help

There is an increasing trend in favor of enabling individual victims of violations of international humanitarian law to seek reparation directly from the responsible State. However, the water is muddy to say the least. In future cases, the recent codification of international criminal law has significantly influenced the discourse on post-conflict justice, while legal research on post-conflict justice has been inspired by the rapid developments in international justice mechanisms. As a result, much focus has been on the accountability of perpetrators, in particular, in the application of universal jurisdiction.

The family law attorneys at Masters Law Group are highly experienced with international parental child abduction disputes. If you believe your child is at threat of being abducted by a parent, legal guardian, or someone acting on their behalf, contact us today for a consultation.

For more information on our recent Hague Decisions, see here:

A Guide to Divorce and Cryptocurrency

In 2022, cryptocurrencies are playing a big role in divorces. If you’re facing a divorce and lost on how to find, value and split cryptos, here’s what you need to know. 

With the rise in popularity of cryptocurrency over the past few years, it is becoming a hot topic in many divorce cases. When it comes to dividing assets in a divorce, it can be difficult to know what to do with cryptocurrency. While there are many different types of cryptocurrencies, they all operate in fundamentally similar ways: they are digital currencies that can be exchanged for goods and services or other currencies, and many are traded on online exchanges.

This guide will give you a high-level overview of cryptocurrency and explain your options on how to deal with it in a divorce. Let’s take a look.

Cryptocurrency Basics

The rise (and falls) of cryptocurrency has been unlike anything we’ve ever seen. The market is so volatile that some have compared it to the Wild West. And yet, the demand for it seems insatiable. So what is cryptocurrency, and why are people so interested in it?

Cryptocurrency is a virtual or digital currency that can be used like real money as a medium of exchange. It is not a physical token, like a dollar bill, but is similar to an electronic payment system (think of swiping your credit card) as a way to pay for something.

Cryptocurrency “coins” are held in a digital wallet, which can be an online service, a software program, or a personal hard drive among other things. The wallet allows the owner to make secure transactions for goods and services or keep it as a type of investment. Since the coins are not issued by a central authority, like a bank or government, they are theoretically immune to inflation and other government interference.

Cryptocurrency and Taxes

When you sell or transfer cryptocurrency, it is treated as property and capital gains are taxed. You will incur a gain or loss when sold, transferred as payment for goods or services, exchanged with another crypto, and at other various scenarios.

You are required by the IRS to report gains and losses on each transaction even if the gain or loss is not material. The difference between the purchase price and sales/transfer price is what will be taxed.

If the value at the time of sale or transfer is more than the purchase price, you will incur a capital gain. If the value at the time of sale or transfer is less than the purchase price, you will incur a capital loss.

Understanding Cryptocurrency and Divorce

When you are going through a divorce, you will need to provide financial disclosures to your spouse. This includes information about your assets, income, and expenses. Cryptocurrency is considered an asset and not income. As such, it should be listed on your financial disclosures when you are going through the divorce process.

Most cryptocurrency holdings have a current value which is listed when you log into your account. The values listed are based on current exchange rates for that specific cryptocurrency to US dollars. However, values can fluctuate by a significant amount daily so it is important to keep this into consideration when using the value listed on the financial disclosures when dividing property.

How to Determine the Marital Portion of Cryptocurrency in a Divorce

Property division laws vary from state to state. A vast majority of states are equitable distribution states where assets are divided fairly but not always equally.

Illinois has taken steps to protect individuals who have invested in cryptocurrencies by allowing them to be counted as part of their overall net worth during divorce proceedings. In Illinois, all property held by either party is presumed marital property unless it falls under an exception such as being acquired before the marriage, being a gift or an inheritance.

Dividing crypto in Illinois is similar to the division of any other assets. Illinois is not a community property state, which means the court will split assets purchased, converted or appraised throughout the marriage in an equitable manner.

How Masters Law Group Can Help

When it comes to modern-day divorce cases, Masters Law Group has you covered on all things crypto. If you’re facing a divorce and suspect that your spouse is hiding crypto (and don’t know what signs to look out for), you can find that information in our recent blog here. If you have questions about the different types of popularized crypto, you can find that information right here.

Masters Law Group is here to help you through this stressful time. It’s important to consult your attorney as soon as you find any hidden cryptocurrency and discuss everything you know about the assets such as the type of crypto, the date of purchase and its appreciation. Gather any documents and records you may need in order to get your affairs in order.

Our team of attorneys are highly experienced in dealing with Cryptocurrencies in divorce and are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.

 

What are the Defenses to the Hague Convention?

A parent who moves with a child from the child’s home country to another country may face accusations that the move is wrongful. The Hague Abduction Convention is an international agreement to safeguard intercountry adoptions and parental abductions. 

The Hague Convention is a treaty that the United States has joined, along with many other countries. Its purpose is to protect children from the harmful effects of international abduction by a parent.

When one parent applies to the State Court or Federal Court for return of a child who has been taken from a foreign country and brought to the United States, or is wrongfully retained in the United States beyond the agreed-upon time frame of a temporary absence, that parent may assert certain defenses to prevent the return.

The courts can deny the return of an abducted child under six conditions listed in the Convention, including if a child would be at risk of being subjected to physical or psychological harm, or otherwise placed in an intolerable situation.

Fun Fact: Masters Law Group is highly experienced with Hague Convention cases, with clients not only in the Greater Chicagoland area, but also across the United States in Washington, Hawaii and Wisconsin. 

Here’s what you need to know about the defenses to the Hague Convention.

What is the Hague Convention? 

The Hague Convention on Civil Aspects of International Child Abduction, codified as ICARA, allows a parent whose child has been wrongfully removed from or retained in the United States to petition for the child’s return to his or her country of habitual residence.

This treaty was developed by the Hague Conference on October 25, 1980, and went into effect on December 1, 1983. There were two specific goals in mind for Hague Services:

  • Create a means to ensure that judicial and extrajudicial documents to be served abroad can be brought to the notice of the addressee in sufficient time.
  • Improve the organization of mutual judicial assistance.

The removal of a child is “wrongful” whenever it breaches the rights of the person who has custody attributed to them at the time of removal. Even if a parent already has legal custody of a child, the Convention is needed. This is because U.S. court orders are not always recognized in other countries and sovereign nations can’t interfere with each other’s legal systems, judiciaries, or law enforcement. 

Under the Convention on the Civil Aspects of International Child Abduction and the International Child Abduction Remedies Act (ICARA), when a child has been wrongfully removed from his or her home country, the court must order the child to be returned to his or her home country, unless the party removing the child can establish at least one of six narrow affirmative defenses.

Six Defenses of the Hague Convention

Here are the following defenses to claim wrongful removal under the Hague Convention:

Defense 1: That the petitioner (parent seeking the return of the child) was not “actually exercising custody rights at the time of the removal or retention” under Article 13.

Defense 2: That the petitioner “had consented to or acquiesced in the removal or retention” under Article 13.

Defense 3: That more than one year passed from the time of the wrongful removal or retention until the date the petitioner commenced a judicial or administrative proceeding for the return of the child, under Article 12.

Defense 4: That the child is old enough and has a sufficient degree of maturity to knowingly object to being returned to the petitioner and that it is appropriate to heed that objection, under Article 13.

Defense 5: That “there is grave risk that the child’s return would expose the child to physical or psychological harm or otherwise place the child in an intolerable situation,” under Article 13(b), and

Defense 6: That return of the child would subject the child to violation of basic human rights and fundamental freedoms, under Article 20.

It’s important to note, you should make International Custody Agreements & Parenting Time schedules before you relocate your child/children. U.S. Courts will need to determine the best interest of the child before you do so. 

If you believe your child has been wrongfully removed to a country overseas, or if you would like to move your child out of the U.S. you should contact your trusted family law attorney immediately.  Your attorney can explain the proper steps for handling this matter and guide you toward a just outcome.

How Masters Law Group Can Help

Parents face many obstacles when it comes to seeking judicial intervention in the US for the return of their children.  Erin Masters and Anthony Joseph have extensive experience in cases involving international child custody disputes in both courts located in the State of Illinois and the United States federal court system.

Our Family Law Firm has extensive knowledge and experience with The Hague Convention which provides that a parent whose child has been wrongfully removed from or retained in the United States may petition for the child’s return to his or her country of habitual residence. Our clients span across the entire Unites States, from Washington to Wisconsin; so you can rest assured knowing the experienced Masters Law Group attorneys are fighting for you and your family.

Check out our Featured Hague Decisions:

If you are faced with the terrifying scenario of International Parental Child Abduction, contact your trusted Chicago attorneys at Masters Law Group here today to schedule a consultation.

Divorce and Taxes: Filing After a Separation

For those in the process of ending their marriage, there is more to consider than a simple separation of assets. Whether legally separating or divorcing, you could be facing big changes in your individual tax situations— here, Masters Law Group shares information that could help. 

While most Americans are taking a sigh of relief after tax season, if you are separating from your partner, your taxes could need more attention. Much more.

Assets, Taxes and Divorce, OH MY

In the midst of a divorce, tax implications may not be the most pressing issue on your mind. However, filing taxes after you divorce and how you draw up your divorce agreement can make a big difference when it comes to getting a tax return.

The IRS lists four basic filing statuses available for individuals who are divorced or separating:

  • Married filing jointly. On a joint return, married people report their combined income and deduct their combined allowable expenses. For many couples, filing jointly results in a lower tax than filing separately.
  • Married filing separately. If spouses file separate tax returns, they each report only their own income, deductions, and credits on their individual return. Each spouse is responsible only for the tax due on their own return. People should consider whether filing separately or jointly is better for them.
  • Head of household. Some separated people may be eligible to file as head of household if all of these apply:
    • Their spouse didn’t live in their home for the last six months of the year.
    • They paid more than half the cost of keeping up their home for the year.
    • Their home was the main home of their dependent child for more than half the year.
  • Single. Once the final decree of divorce or separate maintenance is issued, a taxpayer will file as single starting for the year it was issued, unless they are eligible to file as head of household or they remarry by the end of the year.

When couples get divorced, they must divide all property and debts. Couples can hire an attorney (separately or jointly) to help prepare for a financial future after divorce. Here are some important things to think about so you can stay on top of your taxes.

Determine Your Filing Status

If you complete your divorce on or before December 31, you cannot file a joint tax return. If the new year starts before your divorce becomes official, the IRS will still recognize you as married and therefore allow you to file a joint return for the previous year. You are also eligible to file a joint return, but if you do not want to, you can choose the married filing separately.

If you are still legally married when filing your tax return, filing jointly may be your best option because you can claim more of a standard deduction by combining incomes with your spouse. The standard deduction is the amount of income that you can use to lower your tax bill. The standard deduction for tax year 2022 is $25,900 for married couples filing jointly, $12,950 for single taxpayers and married individuals filing separately and $19,400 for heads of households.

 In order to file taxes as head of household after a divorce, you must meet all three of the following requirements:

  • The last day of the year is considered the date on which you became unmarried (so you were either single, divorced or legally separated).
  • You paid more than half of the costs associated with keeping up your home for the year.
  • You lived with a qualifying dependent or child for more than half the year.

Updating Your W-4

If you and your spouse have jobs and earn wages, you’ll each need to fill out a W-4. This form tells your employer how much federal income tax to withhold from your paychecks. You’ll also need to split your allowances between both spouses on the W-4, so if you divorce, you may need to recalculate or adjust your withholding allocations. 

Joint filers need to split their W-4 withholding between both spouses, so if you divorce, you may need to recalculate or adjust your allowances.

Alimony payments from divorce or separation agreements that were finalized before Jan. 1, 2019, are still considered an above-the-line deduction when filing taxes. However, as of January 1, 2019, alimony arrangements can no longer be modified. Therefore, if you are the paying spouse in a divorce or separation agreement that was finalized after that date, you cannot deduct alimony payments when calculating your adjusted gross income. Unlike alimony payments, child support payments are not deductible. If you receive child support payments, you do not have to report them as income on your tax return.

Claiming Children as Dependents

If you have children, understanding who can claim them as dependents is important. This will also affect tax credits you can claim when you file your taxes. Parents who claim their children as dependents are known as custodial parents. Custodial parents have the children live with them for more days out of the tax year. Divorce agreements will usually have custodial parents underlined.

If you are not the custodial parents, you cannot claim child and dependent care credits. You also cannot file your taxes as the head of the household. Form 8332 is an IRS-approved document that allows custodial parents to release their claim to the exemption for a dependent child. If you sign Form 8332, you cannot claim the child as your dependent, and you cannot revoke it until the following tax year. In addition, the Trump tax plan eliminated exemptions for dependents in favor of a higher standard deduction.

Final Thoughts

Individuals who change their marital status through a legal separation or divorce must also change their tax filing status. For filing purposes, the IRS generally considers a couple married until they receive their final decree of divorce or separation.

If you’re going through a divorce, it’s necessary to take the proper steps to understand how it will impact your taxes. If you have specific questions about divorce it’s always best to work with an established and experienced family law attorney. 

Masters Law Group understands that divorce is a stressful situation and that our clients want to move on with their lives. As such, we move through settlement negotiations, mediation or litigation with our clients’ assurance and well being in mind.

Whether you are facing a contested divorce, uncontested divorce, or civil union divorce, our firm’s attorneys are ready to skillfully advocate for your position and provide your voice when you need it most. Contact us today to schedule a consultation.