Publications
When to Value Assets in Divorce
Published in Chicago Lawyer Magazine, June 2009
By Daniel Stefani
In a dissolution of marriage, the Court identifies the parties’ assets and liabilities, classifies them and values them. In today’s volatile economic times, using the appropriate valuation date is more important than ever. In Illinois, the Illinois Marriage and Dissolution of Marriage Act directs the Court to value assets and liabilities on a date “as close to the trial date as practicable.” The Illinois case law interpreted this to mean anywhere from the beginning of trial back to a date nine months before the trial date. Typically, with complex business valuation issues, the underlying financial information used to complete an expert business valuation report lags well behind the trial date and therefore, the valuation date is several months before the ultimate trial to allow for the completion of expert reports. At trial, upon good cause shown, typically the Court will allow evidence of intervening events that effect value. This is not perfect and often results in the Court having to use obsolete values.
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Abatement of Support
Published in Chicago Lawyer Magazine, March 2009
By Daniel Stefani
With more and more obligors of child support and maintenance losing their jobs, the challenge for the divorce courts is how to protect the obligee ex-spouse and minor children with out unfairly punishing the obligor ex-spouse.
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Rewriting the Divorce Act
Published in Chicago Lawyer Magazine, November 2008
By Daniel Stefani
It has been more than 30 years since the enactment of the Illinois Marriage and Dissolution of Marriage Act. While there have been miscellaneous amendments to the act since then, the Illinois House of Representatives has decided that the act needs a complete review and overhaul. This is especially necessary since the typical American family unit has changed significantly since 1977.
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Advice for Non-divorce Lawyers
Published in Chicago Lawyer Magazine, September 2008
by Daniel R. Stefani
It is a privilege and honor to be taking over for one of my true mentors, Joseph N. DuGanto. I learned very much form Joe during my 12 years with him and, now that my partner and I have our own firm of nine lawyers I find myself relying more and more on Joe’s words of wisdom.
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