What You Need to Know About Prenuptial Agreements in Illinois

 Posted on July 26,2019 in Uncategorized

Prenuptial agreements are often associated with very wealthy individuals, and people who seek a prenup may be seen as believing that their marriage will not last. Because of this, a stigma was attached to these agreements, but this has changed over time, and prenuptial agreements are becoming more and more common.

When Is a Prenuptial Agreement Appropriate?

Nowadays, it is routine for marrying couples to discuss, agree to, and sign a prenuptial agreement before they exchange marriage vows and seal their marriage. A prenuptial agreement may be appropriate in a variety of situations, including:

• One spouse has significantly more assets than the other spouse. In this case, it behooves the spouse with significantly more assets to have a prenuptial agreement in place to protect against the incidental or deliberate inclusion of their assets as marital property in a potential divorce. Ordinarily, assets obtained before a couple’s marriage are considered non-marital property and therefore not subject to division or sharing after divorce.

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How Are a Couple’s Assets Divided in an Illinois Divorce?

 Posted on July 24,2019 in Uncategorized

While some people who get married may be doubtful that the marriage will last, the expectation for nearly all couples who marry is that their marriage will last a lifetime.

However, the reality of marriage in America is that more than 22 percent of first marriages end in divorce within five years, and 53 percent of marriages dissolve by the 20-year mark, according to the latest available data from the government. No matter the length of a marriage, one common issue that often arises during divorce is how to handle the division of marital property.

What Constitutes Marital Property?

The first question to determine when addressing property division is what is considered marital property as defined under Illinois law. The law defines marital property as “all property acquired by either spouse subsequent to the marriage.” Examples of common marital property include physical possessions such as homes, automobiles, and other assets of value. Marital property also includes monetary assets such as retirement accounts like 401(k)s or IRAs, pensions, stocks and bonds, and life insurance benefits.

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How Can Fathers’ Rights Be Protected in Illinois?

 Posted on July 19,2019 in Divorce

In Illinois and in many other states, it can seem like the odds are stacked against fathers in family law cases. Judges in Illinois have been instructed to not hold one parent in higher regard than another – therefore, in theory, this means that a father has the same parental rights as a mother. In practice, however, things often turn out differently.

While mothers often take the lead in caring for children, fathers also play a critical role in their development. Studies now show that children who have fathers or father figures involved in their lives tend to do better in school and chart a better path to success in life. Fathers also often act as caregivers, nurturers, and disciplinarians, providing invaluable love and support throughout the childhood years and beyond.

Evolution of Parental Rights

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What Is a Financial Restraining Order in an Illinois Divorce?

 Posted on July 18,2019 in Divorce

Arguments over finances can be one of the major causes of a divorce. One spouse might be a saver, and the other spouse might be a spender. Over the course of a marriage, this can lead to a great deal of conflict and ultimately ruin the relationship. If you think your spouse is acting irresponsibly through excessive spending or damaging marital assets, you can ask the court to issue a financial restraining order. This type of restraining order temporarily freezes some of the marital assets to ensure that they will not be wasted.

What Can a Financial Restraining Order Stop?

A financial restraining order freezes the marital assets for both sides. For example, if your spouse is barred from selling off any marital property, you will also be prohibited from selling off any of the property, unless you receive permission from the court. A typical order lasts 10-30 days, but it can be extended as long as necessary in order to protect the marital property, such as until the court issues a final order to divide the property.

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What Laws and Legal Issues Are Involved in a Military Divorce?

 Posted on July 11,2019 in Divorce

It is very common for a member of the Armed Forces to be away from their home and family for long periods of time. This can be hard on a marriage, whether one or both spouses are in the military. Even after his or her tour ends, a veteran can develop post-traumatic stress disorder (PTSD), which can have a large impact on his or her personal relationships. All these things can lead to a couple growing apart and eventually divorcing. A military divorce can involve a number of special considerations, since a member of the military is employed by the federal government, which can affect child support, retirement benefits, and more.

State and Federal Divorce Laws

Under Illinois law, a person can only file for divorce if he or she is a resident of the state. However, a person who is in the military and is not in the state or country due to military orders is generally still considered a resident of Illinois. For instance, if a soldier who normally resides in Illinois is sent to Italy on military orders, he or she can still file for divorce in Illinois.

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Who Is Responsible for Marital Debt in an Illinois Divorce?

 Posted on July 09,2019 in Divorce

Many couples fight about finances throughout the course of their marriage. Money issues and especially debt can wreak havoc on a marriage, and in many cases, financial concerns can be a significant factor in the decision to get a divorce. Sometimes, one spouse will rack up huge amounts of credit card debt without the other spouse even knowing. Divorcing couples may wonder what will happen if one or both spouses have incurred a large amount of debt. Illinois divorce laws allow for equitable distribution of marital property, and this includes the division of debts. However, exactly how marital debt is to be divided depends on each situation, since every divorce is unique.

Marital Assets and Debts

Marital debt refers to any debts that a couple accumulates while they are married. These debts may include a mortgage, credit cards, vehicle loans, and student loans. During divorce, marital debts will be divided between the spouses according to Illinois’ equitable distribution laws. Credit cards, even if they are only in one spouse’s name, are still considered marital debt that the court will divide.

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How Is Marital Property Divided in Complex Divorces in Illinois?

 Posted on June 28,2019 in Divorce

Divorces can be complicated, even if both spouses agree on many of the issues that must be addressed. In some cases, the marital estate may include significant assets, or spouses may earn large incomes. In these complex divorce cases, couples may need to address high-value assets or property, business valuation, spousal maintenance, and more. The division of property can have a long-term impact on one or both spouses, so this area needs to be addressed carefully. If you are entering the divorce process, it is important to understand your rights and the near-term and long-term impact of the decisions you make.

Marital Assets

The marital estate includes any property that was obtained during the course of your marriage. Illinois is an equitable distribution state, which means that marital property will be divided equitably, but not necessarily equally. In some cases, litigation in court may be necessary to resolve disputes over the division of assets; however, it is often more beneficial if spouses can work together to reach an agreement on these issues outside of court.

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7 Tips for Achieving an Amicable Divorce in Illinois

 Posted on June 26,2019 in Divorce

When someone hears the word “divorce,” it typically has a negative connotation. The break-up of a marriage can be sad, but for some couples, going their separate ways is for the best instead of staying in an unhappy union. An amicable divorce is possible if both partners are willing to compromise on certain issues. If a child is involved, the parents can work together to come to agreements on what is in the best interests of their child. This is important for such issues as allocation of parental responsibilities and parenting time.

Practical Advice for a Healthy Divorce

The following tips can help a couple who are divorcing achieve the best possible outcome for all family members:

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What Role Does a Guardian Ad Litem Play in an Illinois Divorce?

 Posted on June 24,2019 in Divorce

Divorce can be a stressful and lengthy process. When children are involved, it can get even more complicated. If both parents cannot agree on child-related issues such as the allocation of parental responsibilities or parenting time, the final decision in these matters may need to be made by the court. In some cases, a judge may require the help of a neutral party who will not argue on behalf of either parent. Under Illinois law, a guardian ad litem (GAL) is defined as a lawyer appointed by the court in a divorce case who will help determine the best interests of a child. A GAL can be appointed if one parent is concerned about their child’s safety or well-being, or if a judge decides a GAL is needed during the negotiations.

What Does a Guardian Ad Litem Do?

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How Do Mothers’ Rights Impact an Illinois Divorce?

 Posted on June 19,2019 in Alimony/Spousal Support

In recent years, a lot of emphasis has been placed on fathers’ rights during and after a divorce. This is partly due to a trend in which many dads have taken more active roles in parenting compared to fathers in previous generations. In divorces that took place in the past, mothers were typically awarded what was called “sole custody” of the children, as well as alimony, child support, the marital home, and other assets. However, things often turn out differently in today’s divorces, since many mothers and fathers share in earning household income and raising children.

In modern divorce cases, mothers’ rights regarding child custody should not be automatically assumed like they often were in the past. During divorce, both parents should be sure to understand their rights and the ways they can reach a favorable outcome.

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