Elgin Family Law Blog

An Illinois home may be sold at the time of a divorce or a date that the couple deems to be appropriate. However, there are some instances in which keeping the home is a person's top priority. This may be the case even if an individual doesn't have children and simply wants the home due to its sentimental value. Determining how much the property is actually worth is the first thing that should be done.

Figuring out a home's value may influence whether a spouse wants to be bought out. Ideally, the house will only be sold to a spouse if that person can afford to purchase it at fair market value. Further complicating matters is the fact that a couple may not necessarily want to split the home on a 50/50 basis. It is also important to consider the cost of maintaining the property.

Some couples in Illinois might think of prenuptial agreements as tools that are only useful for wealthy people. However, since most divorces involve the division of property, a prenup can also be helpful for couples who do not have enormous incomes. It gives them the opportunity to establish what assets they want to keep separate and how they will divide shared income and handle spousal support in a calm environment.

One stage of the divorce process is full disclosure of all assets and debts. A spouse who had not been part of managing the marital finances up to this point can be at a disadvantage in a divorce. A prenup ensures that this disclosure happens before the marriage since the couple must also disclose assets and debts. However, this conversation can be valuable for couples even if they do not divorce. Understanding the financial situation and the other person's attitude toward money can reduce the likelihood of conflict over money after marriage and may make the relationship stronger.

Being a parent or teenager can be tough enough without the added stress of a divorce. The teenage years are already a time when a child is transitioning into an adult, and they may not always want to do what their parents ask of them. Furthermore, divorced parents in Illinois may have to contend with a lack of communication with the child's other parent. Therefore, it can be easy to make mistakes raising a child.

For example, parents may communicate less because they feel like their teens can handle some problems on their own. However, they still need support and guidance, and that can only happen if a parent knows what a son or daughter is going through. Teens may also take advantage of the fact that they have more freedom as they get older and receive less parental supervision.

According to data maintained by the Bureau of Labor Statistics, it's becoming increasingly common for wives in Illinois and throughout the U.S. to earn more money than their husbands. Roughly 38% of wives are bringing home more income than their husbands, and that dynamic can cause problems in a marriage. Some research indicates that the risk of divorce increases and the likelihood of marriage decreases when the woman earns more than the man.

At the same time, some have advanced the opinion that couples are more likely to stay together if they cannot afford to maintain separate residences. Men in the U.S. tend to be more comfortable when they earn more money in the relationship. According to a study that examined more than 6,300 married couples, the risk of divorce is almost 33% higher when the husband doesn't have a full-time job.