Art collections discussed among high-profile divorces cases in recent national news postings may have some Illinois residents considering their own costly artwork. One prominent couple who filed for divorce in 2018, has yet to reach a settlement on several pricey...
Property Division
Assumable mortgage misconceptions related to a divorce
One of the most common assets sought after during an Illinois divorce is the family home. If a decision is made that one former spouse will retain the home, the next step is to determine how to handle the mortgage. Possibilities include retaining the original joint...
Dividing the marital home during a divorce
Dealing with the family home can be a difficult topic when Illinois couples decide to divorce. Unlike a bank account or a retirement fund, it is far more difficult to divide property. In addition, property division that involves real estate can carry an emotional cost...
Home ownership during a divorce
When a married couple decides to divorce, there is often a difficult choice on whether or not to sell their home. A variety of factors will determine what the right course of action. These include the amount of equity in the home, each person's income and credit, and...
Divorce for older couples can be more complex
When older couples in Illinois decide to get divorced, their concerns are different from younger individuals going through the same process. While many younger couples focus on custody and support issues, most older couples focus on upcoming retirement and financial...
Tax issues can be important in property division
Taxes are something people may not like to think about. This can particularly be the case at a stressful time like a divorce. The reality though is that taxes can have significant impacts on important divorce issues. One such issue is property division.There are all...