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