Category Archives: Property Division
Factors Affecting the Property Division Process
Long before most couples file a petition for divorce, they begin at least informally talk about how to divide their marital property. For some, especially in more amicable situations, this can lead to more formal negotiations and the development of a mutually agreed-upon property settlement. For others, however, the first discussions are essentially the last, as neither party is willing to compromise or attempt toContinue reading
Defending a Dissipation Claim in Divorce
There are plenty of challenging aspects to any divorce situation. In addition to the unquestionably difficult emotional turbulence, most couples must also deal with a number of practical considerations as well, including arrangements regarding children, spousal support, and the division of assets and property. While each process, of course, includes its own unique intricacies, the dividing of assets and property can, in many cases, set the toneContinue reading
Consider Eliminating Debt Prior to Divorce
If you are considering a divorce, you probably realize that your life is about to get fairly complicated, at least for a little while. You and your spouse will need to work out a large number of considerations, which, depending on your ability to work together—or lack thereof—may lead to stressful negotiations. For many couples, dividing the marital estate can be among the most challenging of allContinue reading
Addressing Insurance Policies During Your Divorce
When you are working through a divorce, there are many issues you need to consider. Your child custody arrangements, how child support will be handled, whether either you or your spouse will need spousal support following the divorce, and a fair division of your property are all among the issues that need to be worked out before a divorce settlement is issued. Another issue that couples must considerContinue reading
Property Division in Divorce: We Each Get Half, Right?
The honest answer to that question is “maybe.” You and your spouse may, in fact, each end up with half of your marital assets, but an exactly even division is not guaranteed, and, in all honesty, probably not very likely either. This is thanks to the property division approach set forth under Illinois law, which takes a large number of factors into account when allocating marital propertyContinue reading
Pets Are More than Property to Many Divorcing Couples
Do you own a dog or a cat that you treat like part of the family? Does he or she sit with you while you watch television and sleep on the bed with you at night? More than half of Illinois households own pets, and in many cases, they represent more than just animals. Each one is a member of the family with his or her ownContinue reading
Infidelity and Divorce: My Spouse Cheated, What Now?
There are few things in the world more difficult to describe than the hurt of betrayal associated with infidelity. The trust that is destroyed as a result may take years to rebuild, if it can even be restored. For couples who are dating, an act of infidelity can easily end the relationship. For those who are married, a cheating spouse can certainly precipitate divorce, as theContinue reading
Structured Settlements in Divorce
In many divorce cases, the division of marital property is a challenging process. Both partners often feel that they have contributed significantly to the couple’s acquired assets and the marriage overall. As such, each partner may have particular needs or desires when the time comes to negotiate how the property will be distributed. For some, once the negotiation has resulted in a workable agreement, the marital assetsContinue reading
Retained Earnings in Divorce
When a couple decides to divorce, among the more contentious issues is often how assets and property are to be divided. Either spouse’s ownership or investment in a businesscan make property division even more complicated. One of the biggest challenges is determining how much of a company’s value, in general, and, specifically, retained earnings are to be considered marital property, subject to equitable distribution upon divorce.Continue reading