Tag Archives: property division

Paying Down Marital Debt Prior to Divorce

When divorce seems to be imminent in your relationship, you are well-advised to being preparing for the process. Preparation can obviously take many forms, but among the most important decisions to be made will almost always be financial considerations. At some point along the way, you and your spouse will need to determine how your property and assets will be divided, or, if you cannotContinue reading

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

Developing a Sound Divorce Agreement

According to most estimates, somewhere between 90 and 95 percent of all divorces are negotiated outside of the courtroom. The remaining percent, as you might expect, are litigated often causing a high degree of stress and emotion for all involved parties. Of course, even a negotiated divorce can have its challenges, as reaching an agreement is not always easier, especially in contentious situations. The law regarding divorceContinue 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

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

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