Protecting Your Assets in a Domestic Partnership
Domestic partnership agreements can be essential for protecting assets when a relationship ends. Unlike married couples, partners in domestic partnerships may not have the same legal protections for property, financial support, and decision-making powers. A well-crafted agreement can help clarify how assets will be distributed, avoiding lengthy and contentious disputes. Consulting a family law attorney can ensure that both parties’ rights and interests are safeguarded in a domestic partnership.
Money over Marriage: Financial Implications of Divorce
Financial Implications of Divorce are significant, as couples often realize that dividing assets and income isn’t as straightforward as they might expect. With nearly half of marriages in the U.S. ending in divorce, financial issues like equitable distribution of assets can become complex and contentious. Working with an experienced divorce attorney can help ensure a fair division of property, taking into account factors like the length of the marriage, each spouse’s contributions, and future financial needs.
Reasons to Hire a Divorce Attorney
A divorce attorney can be invaluable in navigating the complexities of divorce, from finances to co-parenting arrangements. If you’re experiencing irreconcilable issues in your marriage and ready to proceed, an attorney can ensure your needs are met, acting as a buffer in difficult cases and facilitating a fair outcome. Additionally, a skilled attorney will guide you through court processes and handle the essential paperwork, helping to secure the best possible result in your case.
Understanding Marital Property
Marital property includes assets acquired during a marriage that may be subject to division in a divorce. This can encompass a range of possessions, from the family home to jointly started businesses or vacation properties. Generally, any property bought or gained while married is seen as shared, though certain exceptions exist, such as personal items delineated in prenuptial agreements. The division of assets can involve complexities, particularly when the value of previously owned assets increases over the course of the marriage. Working with a knowledgeable family law attorney is essential to navigating these nuances and ensuring a fair distribution.
Preparing Financially for Divorce
In the middle of divorce, financial decisions are among the most difficult and complicated to make. In the past, when a couple was divorcing, it was often the woman who ended up without anything, especially in states where there was no equal distribution property law and the woman did not work outside the home. These days, […]
The Role of Civil Unions for Unmarried Couples in Illinois
Many people mistakenly think of civil unions as something that no longer is needed because of the recent ruling of the Supreme Court extending the right of marriage to same sex couples all across the United States. However, in Illinois, civil unions are still an important part of family law that can benefit both heterosexual and homosexual […]
Asset Division: Marital and Non-Marital Property
Many, if not most, couples share their property and income after they are married. However, there are some reasons why you might want to keep some of your property separate even after you are married. How Illinois Views Marital Property Illinois has a broad view of marital property. With a few exceptions, anything that is acquired by […]
How a Simple Divorce Turns into a Complex Divorce
A surprising number of people believe their divorce will be simple. However, many divorces turn out to be much more complex than people expect. Often the process of filing for divorce brings to the surface buried resentments and previously unknown facts. When a divorce becomes complicated, you need a skilled divorce attorney to help you through the […]
The Importance of a Prenuptial Agreement
There’s nothing in a fairy tale romance about a prenuptial agreement, and many couples shy away from drawing up this important legal document before marriage in an effort to avoid the perceived stigma of a prenup — “we only need this if one of us will be cruel or unfair in the event that our marriage […]
Prenuptial Agreements: No Matter What Age You Wed
What age presents the least risk of divorce for couples to get married at? For years, young couples have been told it is best to wait until they are older and more settled to wed, but is that really accurate advice? According to a new study, waiting may actually increase the risk of divorce. The study […]
How Illinois Courts Handle Property Division during a Divorce
On your wedding day, it is hard to imagine the bells will one day stop ringing. However, people can change, and so can your relationship. Sadly, nearly half of all U.S. marriages end in divorce. You are now faced with a mountain of challenges – from battling over child custody to learning how to navigate your […]
Determining Property Division during Divorce
When going through a divorce, the division of propertycan be one of the most difficult steps for couples. Divvying up a life once shared can be an emotional process, and it can also lead to nasty disputes and arguments. According to the Internal Revenue Service, nine states in the U.S. have community property laws. Hence, all property […]