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Deciding How to Handle Ownership of the Marital Home During Your Illinois Divorce
If you are like most people, your home is not only the most valuable asset you own, but it is also a source of deep emotional attachment. Deciding how to handle ownership of the marital home is often one of the hardest parts of the divorce process. There are many different ways to approach this issue.
If you are getting divorced, reach out to a skilled divorce lawyer for guidance. Your attorney can help you understand your rights, evaluate your property division options, and choose the course of action that is best for your unique situation.
Options For Ownership of the Family Home
A family home is typically considered a marital asset. This means that both spouses have a right to a share of the home's value. One option during divorce is to sell the home and divide the proceeds between you and your spouse. This can be a good choice if you do not want to continue living in the home after the divorce or if neither of you wants to buy out the other's share of the home. Some people choose to sell their home and use the proceeds to pay off joint debt. This ensures that both parties will start their new lives free from joint liabilities.
Top 5 Reasons to Consider Hiring a Divorce Attorney
When a married individual realizes that his or her marriage is coming to an end, the prospect of divorce can be intimidating. Most people have little to no experience with courts or legal proceedings. It can be overwhelming, stressful, and confusing.
Divorce lawyers are specifically trained to deal with the complexities of a divorce. They are knowledgeable about the laws and regulations that govern the process and can help their clients navigate issues like property division, child support, child custody, and spousal maintenance. If you are unsure of whether you should hire a divorce lawyer or proceed with the divorce on your own, consider the following.
Divorce Lawyers Know How to Protect Your Rights
Divorce lawyers are well-versed in the laws and procedures of divorce. They understand what is necessary to protect your rights, such as filing documents properly and making sure deadlines are met. They can also advise on potential legal strategies that will help you obtain a just outcome for your divorce. Without a lawyer protecting your rights and best interests, it is much easier for your spouse to take advantage of you.
Does Disability Change My Child Support Obligation?
Divorce can be tricky, especially when there is a child involved. Both parents are required to support their child or children until they reach the age of eighteen. In Illinois, child support payments are determined by Income Share Models. This takes into account each of the parent's income and, in shared parenting situations, how much time each parent gets with the child or children. Child support usually ends once a child is an adult. However, if the child is mentally or physically disabled, this may extend a parent’s child support obligation. If their child is physically or mentally unable to take care of themselves, the parents may have to continue to care for their child into adulthood. It also means that for the parents to continue supporting their child, they may have to keep paying child support. An Illinois judge will be the ultimate decider on whether support payments will continue.
How Are Assets Acquired through Inheritance Handled in an Illinois Divorce?
Few marital assets cause as much confusion during divorce as inheritances because spouses can often be in disagreement about what should happen with inherited assets.
Title 750 Illinois Compiled Statute (ILCS) § 5/ is otherwise known as the Illinois Marriage and Dissolution of Marriage Act and is the governing state law in divorce cases. Certain sections of the Illinois Marriage and Dissolution of Marriage Act specifically address inheritance issues.
Inherited Assets During Divorce
Under 750 ILCS § 503(a), all property acquired during a marriage is classified as marital property, except when the property is acquired:
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By gift, legacy, or descent
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In exchange for such property
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Before the marriage
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After a judgment of legal separation
When Parents Can Obtain Sole Custody in Illinois
Many parents who are seeking divorce may want to obtain sole custody of their children. Illinois no longer uses the term “child custody” but instead refers to the allocation of parental responsibilities and parenting time. However, the word custody is still used informally to refer to a parent’s decision-making authority.
Courts in Illinois generally want to see children have relationships with both of their parents, so courts only grant sole custody or sole decision-making authority if there is a good reason. None of this is to say that parents cannot get sole custody in their cases, just that it can be challenging.
When you are dealing with a child custody issue, you are going to want to be sure to retain legal counsel for help determining the best path forward for you.
How Parents Obtain Sole Custody
When one parent is seeking sole custody of a child and the other parent disagrees with this, the court will make a decision that is in the child’s best interests.
Hidden Assets And Their Consequences
Divorce is so much more than simply the end of a marriage. This process can be heavily influenced and impacted by finances. Unfortunately, it is not uncommon for spouses to hide assets during a divorce. In the state of Illinois, assets must be split justly, however that does not always mean equally. It can be difficult to decide upon a fair division of marital assets, however, hiding assets is not the way to go about it. It is not only unlawful and unethical to hide assets, but there can be serious consequences if caught doing so. It is essential to recognize the signs when a spouse may be hiding assets and to be aware of what will be faced if caught.
What To Look Out For
Married couples tend to have complex financial portfolios. Dividing assets and debts during divorce can be complicated. Many spouses own residences and rental properties, vacation homes, life insurance, retirement plans, businesses, and more. These are some red flags to look out for if you suspect that your spouse is hiding assets:
The First Holiday After a Divorce
For many people in Illinois, the holidays will represent the first time that families are gathering after a couple has decided to get a divorce. It is can be awkward and lonely for individuals who have recently separated or divorced. Many people going through a divorce can see numerous complications to their family plans, and it can be difficult for people to know how to handle the situation.
How to Deal With Separation or Divorce Around the Holidays
Going through a divorce and getting ready for the holidays can be stressful. Here are a few tips divorcing individuals can keep in mind to try and improve their situation.
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Make It About the Kids — Just as there are certain to be plenty of adults at many family get-togethers, there are also sure to be children. Instead of getting caught up in conversations about the divorce, focus more on interacting with the kids.
How Spousal Support Works in Illinois
One spouse in a divorce may seek financial support through “spousal maintenance,” which is more commonly referred to as alimony or spousal support.
Courts must take a multitude of factors into consideration when determining whether spousal support should be paid, and this can include the incomes and earning capacities of both spouses, how long a marriage lasted, and any requirements under a premarital or postnuptial agreement. If you think that your spouse is seeking too much money or they are not paying enough, you will want to work with a DuPage County spousal support lawyer who can help you navigate the court process and pursue the most desirable outcome for your case.
Illinois Spousal Support Laws
The Illinois state law governing spousal support claims is found in 750 Illinois Consolidated Statute § 5/504. Under this law, courts first need to make multiple findings as to whether a spousal support award would be appropriate.
Estate Planning Strategies to Avoid Probate in Illinois
The Illinois small estate affidavit allows some heirs to process smaller estates without probate, but any estate in which probate assets exceed $100,000.00 must go through the formal probate process. The probate process can be long, costly, and challenging, so it is not uncommon for many people to want to do everything they can to avoid having to deal with probate.
The good news for most people is that Illinois allows a number of ways for people to avoid probate by the way they transfer assets to their heirs. When people do not designate beneficiaries on their insurance policies, pensions, or retirement plans, then the assets have to be distributed according to state intestacy laws.
Ways to Avoid Probate in Illinois
People who want to help their family members avoid probate can take the following steps:
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Set up a Revocable Living Trust — With a living trust, assets will be transferred during a person’s lifetime so when they die, the trust continues and assets will not need to be probated.
How Paternity Laws Work in Illinois
Paternity in Illinois is relatively straightforward when it comes to married couples. A woman’s husband is presumed to be the father of a child automatically when the couple is married. However, complications arise with children born out of wedlock. Paternity needs to be established in such cases, and one of the simplest ways this is accomplished is through a Voluntary Acknowledgement of Paternity (VAP) that both parents sign and submit to the the Illinois Department of Healthcare and Family Services (HFS). Establishing paternity without a VAP usually requires either an administrative paternity order or order of paternity.
How Contested Paternity Suits Work
It is important to note that the Illinois Parentage Act presumes that a man is the father of a child if he and the mother are married. However, there are situations in which this assumption may be wrong. There are also situations in which the child’s father is unknown or uncertain. Situations like these often lead to paternity lawsuits.
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