The family home is not only the most valuable asset divided in many divorces, but it is also one of the most sentimental. The couple often purchased the home together after they got married, and they may have even raised children in the home. It is for all of these reasons that many people want to keep the family home during a divorce, but doing so is a complex process. If you want to keep your home in your divorce, below are the five steps to follow.

Get an Official Appraisal

An official appraisal will determine the fair value of your home. The appraiser will consider external factors such as the location, the lot size, and access to public utilities, as well as internal factors. The internal factors an appraiser will consider include the square footage of the home, the number of bathrooms and bedrooms, and the type of foundation.

Find Out How Much is Left on the Mortgage

You can learn how much is left on your mortgage by contacting your lender or looking at your mortgage documents. Once you know how much is left on the mortgage, you should then subtract that amount from the value of the home to determine how much equity is in the home.

When a couple gets divorced in Illinois, they will have to go through property division proceedings to divide their assets and their debt. Many couples understand this and know how complicated property division can become. To avoid these complexities, many couples decide to keep their property separate even after they have married. They might use separate bank accounts, take out individual lines of credit, and take other measures to ensure their property is not combined.

The question is, will this really help in divorce and does it make property division easier?

Property Division in Illinois

During a divorce, any property the couple acquired during the marriage is typically considered marital property. As such, it will be divided fairly during the proceedings, although not necessarily equally.

Illinois is an equitable distribution state, which means that during a divorce, property is divided fairly, although not necessarily equally. Due to the fact that the property must be divided fairly, a judge will use a number of factors to determine how that will work, and how property will be divided. Below is one explanation about those twelve factors and how they affect property division.

Each Spouse’s Contribution

According to 750 ILCS 5/503(d)(1), the court must consider the extent to which each spouse contributed to both the assets and debts. If one spouse contributed more to acquiring a certain asset, they may be awarded more of that asset. Likewise, if one debt incurred more debt than the other, they will be responsible for repaying more of it than the other spouse.

Dissipation of Each Spouse

Dissipation means to hide or waste assets during the marriage. For example, if one spouse wasted a significant amount of money gambling during the marriage, that spouse may be awarded fewer assets.

You may understand the benefits of a prenuptial agreement. You may have even decided that you would really one before the wedding day. However, you have no idea how to ask your soon-to-be spouse. You do not want them to think that you’re already planning for a divorce, or that you do not trust them. So, how can you ask them for one and still continue preparing for the big day? By following the four tips below.

Do Not Demand It

Sometimes it is all in the way that you ask for something that makes a big difference. Do not demand that your fiancé signs an agreement. Statements such as, “You will have to sign a prenuptial agreement,” or “I do not think we can get married if you do not sign a prenuptial agreement,” come across as very demanding. Your fiancé will likely become defensive, which could lead to a fight you were hoping to avoid when bringing up the subject. Rather, ask your partner to have a conversation with you about a prenup and the benefits it could bring to both of you.

Be Honest

Many people have some kind of fear about the future when they are about to get married, even when they know it is the right decision. Likewise, many people do not want to convey these fears to their partner because they do not want their partner to think they are having doubts. It is always best to be honest about your feelings, any fears you have, and to let your fiancé know that you have certain assets you would like to protect. Dishonesty will only add to the tension of the conversation.

Although it may be difficult to remain in the same home as the spouse, you are separated from or divorcing with, leaving the house is among the most disastrous decisions anyone makes during the divorce. Once you go, there is no guarantee that you will ever make it back into the home, or that your items will be there and in one piece once you get back. Here are of the leading reasons why you should not leave your home if you are facing divorce.

Custody Complications

If you leave home, and you leave the children behind, that is a genuine possibility that you will have “points deducted” when it comes to both property division and parenting time arrangements. Any spouse who chooses to walk away from home puts themselves in the unfortunate position of being an outsider in the family. Being the outsider is not a secure vantage point during divorce. Think of it from the judge’s point of view: they must do what is in the best interest of the children, and in many cases, the children do better if as little as possible changes. When children remain in the home, they have the same school, same friends, and the same bedroom. Before you leave the house and the children, protect yourself and secure temporary parenting time agreement for your case.

Property Concerns

If you leave home, your spouse has total control of the property. Although you both have joint interests, once the locks change, court orders will become necessary to enter the home again. Unless you gather your personal belongings with you at the time you leave, you must entrust all of your belongings with your spouse. If you need to go but cannot take your items with you, you should make an inventory of all of your articles and photograph the ones of high importance.