Property division has the potential to be one of the most contested details of your divorce. Both you and your soon-to-be ex-spouse are fighting tooth and nail for every asset, so you’re sure to clash at some point. As you prepare for divorce, make note of the...
Debt is not something people like to talk about. Even though it is a reality for almost everyone across the country, it is a personal matter that many people prefer to keep private. However, there are times when individuals must address debt openly and honestly. One...
The family home is a treasured asset. It is where parents raise their children and develop their entire life. The home certainly carries an emotional value, but it also has significant financial value. Since spouses often purchase their house together during the...
There is no doubt that one’s financial situation plays a large role in their divorce. After all, spouses must divide the property they shared during the marriage between them, including anything from their income to their savings accounts. Some experts believe that...
A vacation home can offer a nice escape from one’s busy everyday life, while still being a home away from home. It might be a nice retreat for the whole family, but it can become a large point of contention for spouses in the event of a divorce. If spouses face a...
Financial matters are most often the biggest issues in a divorce. After all, Illinois law requires divorcing spouses to divide their marital assets equitably. The process of dividing that property can lead to significant disputes over who gets what – or how much. Both...
The prospect of hidden assets is a common fear, especially in a high-asset divorce. However, many people might wonder if hidden assets are really something they should worry about when they seek a divorce. After all, the property division process can become a point of...
When couples divorce, they must divide the assets they shared and accumulated during their marriage. These assets include any retirement savings that spouses have amassed over the years, whether these savings are in a 401(k) or an individual retirement account (IRA)....
When two people marry, it is common for them to join their property and assets, just as they join their lives together. Though this is common, it is also generally why dividing property is often so complex when couples file for divorce. However, many married couples...
Many people in Illinois who get divorced must decide if they want to keep the marital home. One of the first things to consider is whether or not the home has much equity. If a home was recently purchased, there may be little or no equity. Usually, the spouse who...
