Tag Archives: property division

b2ap3_thumbnail_family-home.jpgIllinois divorce lawyerSelling your home while going through a divorce is stressful and emotional. However, there are certain ways to ease your stress during this process and ensure that your house sells so that you can move on to your next home. Below are some useful tips on how to sell your home when going through a divorce.

Find a Real Estate Agent Who Is Neutral

Rather than using the real estate agent who sold you and your partner your first home, find one that has no emotional attachment to you or your partner and has some divorce knowledge. A neutral real estate agent with divorce knowledge will provide you with helpful advice on how to price your home, when to list it, and how to market it so that stress can be alleviated during the selling process.

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Illinois divorce attorney, DuPage County family law attorneyThere is a societal fascination with those who have a substantial amount of money and those who are famous. Anything anyone does in these two categories becomes publicized on social media, publications, and other outlets. When a divorce is involved, it seems as though every move is under the lens of a microscope. The inconvenience of divorce being a part of public record does not help matters. What other issues face couples in a high net worth divorce and what mistakes should you avoid?

Hiding Assets

Occasionally, a mistake happens in which assets are forgotten, especially in estates where the assets spread throughout a large area. However, if someone is caught transferring money to another bank account, or to a child, or otherwise trying to hide money, the individual loses all credibility in a divorce case.

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Illinois family law attorney, Illinois divorce lawyerThe month of December is one of the busiest months for first time engagements despite the U.S. ranking as the tenth highest nation when it comes to divorce. According to national statistics, November and December account for 26 percent of all marriage proposals. Not only is it the onslaught of the holiday season, but for many it means the promise of a new beginning. But what happens to the engagement ring if the sparkle fades and the engagement is called off?

Once upon a time, the answer varied state by state under what was defined as “breach of promise” acts but many states have abolished these rulings. If you and your former betrothed reside in Illinois you will need to devise your own plan as to how to handle a broken engagement as Illinois abolished such act under the Breach of Promise Abolition Act (740 ILCS 15), January 1, 2016.

It is believed that the abolishment of promise act was overturned as in many instances the prospective groom did not have a hand in the wedding planning and when the engagement was broken off they were looking at astronomical liabilities.

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Illinois divorce lawyer, Illinois family law attorney, Illinois divorce process,For the eight out of every thousand Illinois residents who are projected to seek the services of a qualified Illinois divorce attorney this year, The Huffington Post, supported by documentation derived by the American Bar Association, the Centers for Disease Control and Prevention and 2011 Census Bureau, has provided a guide to each individual state and relevant data for those who are facing divorce.

If you and your spouse are currently included in this ranking, there are six important steps to remember that may decrease the uncertainty and emotional turmoil often experienced during this process. Before consulting with a skilled Illinois divorce attorney it may be helpful to review the following steps as an impromptu guide to divorce in the Prairie State.

Step One: Petitioning for Divorce

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marital property negotiations, Illinois divorce attorney, marital estate division,Your first question when contemplating divorce may be how your property and assets will be split between you and your spouse. Financial concerns are often key factors during the divorce process. Many people hesitate before initiating a divorce due to such concerns. If you are thinking about divorce, but are worried about the financial consequences, it is in your best interests to speak with an attorney in the area, who can educate you on the process of property division and help answer any other questions you may have.

The Basics of Divorce Property Division

In Illinois, “marital property” usually includes all property and assets acquired during the marriage. During a divorce, marital property is divided between the spouses, though the division is not necessarily equal. In fact, Illinois courts use a system termed “equitable distribution” to divide the marital property. Equitable distribution requires that each spouse receive a fair share of the marital property based on his or her monetary and non-monetary contributions to the marriage. Some common types of marital property may include:

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