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Retirement and Beneficiary Designations in Divorce
Prior to and after the filing of any divorce proceeding, careful attention should be given to retirement plans, including beneficiary designations. The primary source documents should be carefully reviewed. Many retirement plans require designations of beneficiaries to be changed to remove an ex-spouse as beneficiary. Otherwise, even after any Judgment of Dissolution of Marriage may be entered, it is possible that an ex-spouse could still take, as a result of a beneficiary designation.
Either or both parents may be ordered to pay reasonable and necessary child support, without regard to marital fault or misconduct. If the official Illinois guidelines are not appropriate, the court considers the financial resources and needs of the child, the standard of living the child would have enjoyed if the marriage had endured, the physical, emotional, and educational needs of the child, and the financial resources, needs, and obligations of both the non-custodial and the custodial parent. Support payments may be ordered paid directly to the court.
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