Property Division

Property division in divorce can be complex, especially if it involves multiple properties, businesses and liabilities. In the initial property division process, the court must identify which properties are part of the marital assets. One of the usual inclusions for...

When you marry someone, you expect to share your life. Part of this includes your finances. Many couples have joint checking accounts and retirement savings. They live in a home together, purchase valuable items, and purchase insurance policies under their names. Upon...

These days, it is not uncommon for a couple to sign a prenuptial agreement before tying the knot. Done right, a prenuptial agreement can help couples separate private assets from marital assets in the event of a divorce.  Unfortunately, many people learn that the...

If you are in the midst of a divorce, you know your entire life is about to change. This is a transitional time that comes with big emotions and challenges. While your entire life will change, it’s important to pay close attention to your financial situation. ...

Once the decision to obtain a divorce has been made, there are numerous issues that must be settled. If spouses have children, then their custody and visitation rights must be resolved. There are also financial aspects to consider, such as spousal support and child...

Spouses typically share almost everything with one another. You may use the same checking account and deposit your retirement savings into a joint account as well. You likely live in the same home, eat the same meals and share an insurance policy that covers both of...

You have probably put a little bit of money into your retirement account every week for years, if not decades. Whether you have a pension partially funded by your employer or a 401(k), your retirement savings may represent multiple years of your salary or possibly...

You have reached the point where you know you want to file for divorce, but that doesn't mean that the hardest part of the process is behind you. Instead, it means that you will soon have to make some difficult decisions with your spouse. You will have to divvy up...

Spouses do have the right to work on property division matters together to reach a fair settlement. Most judges in Elgin, Illinois, encourage this approach to keep courts from getting bogged down.  However, planning to work it out yourselves is easier said than done...

You don't necessarily have to fight over your home in a divorce. Still, it is a good idea to have an idea of your preferred outcome for that major asset. There are numerous ways a couple can handle their house in the divorce. The Illinois family courts apply an...