Premarital agreements are legal contracts that dictate the division of assets and debts in divorce, and they can also address a number of other legal issues. However, as the millennial generation is getting older and starting to think about marriage, many of them are considering drafting a prenuptial agreement before the wedding. These premarital agreements cover all the same issues as those drafted for previous generations, but they are also slightly different. Below are the main ways these premarital agreements differ from those written for older generations.

Millennials Are More Likely to Get Premarital Agreements

For the past few years, more millennials have been writing premarital agreements than generations past. Perhaps younger couples do not see them as the romance killers that previous generations did, or maybe they simply understand the importance of these legal contracts better. Whatever the reason, more millennials are getting premarital agreements, and that is definitely a positive sign.

Millennials Have More Assets

Millennials may not have accumulated more assets than people twice their age, but they generally do have more to protect at the time of marriage. Millennials tend to marry later in life when they have established careers and as such, have accumulated a greater amount of assets. This is vastly different than other generations that often got married right after high school or college. After accumulating all of these assets, it is not hard to understand why more millennials are writing premarital agreements to protect them.

You have a lot of concerns when going through a divorce, and an Illinois divorce lawyer can help alleviate many of them. Unfortunately, not all divorce lawyers in the state are created equal and some are better than others. So, when you are going through a divorce, how can you tell if you found the right one for your case? You can start by reviewing the five most important considerations below.

Who Will Work on Your Case?

Many divorce lawyers offer free consultations and the chances are good that you may have yours with one of the biggest partners at the firm. Law firms sometimes do this to instill confidence in you that you are working with the most experienced divorce lawyer.

Unfortunately, too many clients soon learn that after that initial consultation, the partner has passed your case off to a paralegal or associate. These individuals are integral to a law firm and while they may help your lawyer during your case, they should never be the ones guiding the big decisions. Always ask if the attorney you consult with will be the one working on your case. If not, it may be time to find a different firm.

People going through a divorce typically want the process over with as soon as possible. Delays in a divorce case are not only stressful, but they are also very costly. Spouses do not want to pay the exorbitant fees associated with a lengthy trial or mediation process, and they usually want to move forward in their new life as soon as possible. If you are going through a divorce, below are some ways to expedite the process so your divorce is finalized as quickly as possible.

Keep Fighting to a Minimum

Fighting with your spouses will always prolong the divorce process. Every time there is a dispute, there are additional court hearings or mediation sessions and all of that takes more time and money. Of course, you do not want to give in on every term just to expedite the divorce, as that could result in you signing some of your rights away. Still, it is important to identify early in the process what is most important to you and what terms you are willing to compromise on with your spouse. This is the surest way to expedite the divorce process.

Collect Documents Quickly

You will need to collect many documents when going through a divorce, including tax returns, school schedules, and banking documents. When working with an attorney during your divorce, they will likely ask for these documents fairly early in the process. When they do, you should submit them as soon as possible. Before handing them over to any other party, an attorney will need to thoroughly review these documents to gain a better understanding of your case. Other times, they will need to make certain calculations based on that information. The sooner you can provide what is requested of you, the sooner your case will be finalized.

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.

Couples that want to get a divorce but that always want to avoid the lengthy and costly process of going through litigation will often turn to alternative dispute resolution methods, such as collaborative divorce or mediation. Both methods are extremely effective and can help the parties maintain a respectful relationship, which is important, particularly if there are children involved. However, there are differences between these two dispute resolution methods, and couples that are interested in them should know what they are.

Fees

Mediation and collaborative divorce are both less expensive than going through litigation. Of the two, collaborative divorces typically cost a little more than mediation. In a collaborative divorce, both parties are always represented by attorneys, and this is not always the case for couples going through mediation. If the attorneys cannot agree on a certain aspect of the case, such as the value of a business, they may bring experts in, which will increase the costs of a collaborative divorce.

Mediated divorces are typically less expensive, with sessions costing approximately $100 to $200 an hour. The two parties also do not have to hire an attorney, although it is strongly recommended that anyone going through a divorce is represented by legal counsel.