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Should I Keep the House in My Divorce?

Posted on in Divorce

Orland Park Divorce LawyerFor most people, their home is the single most valuable asset they own. Whether it is a house, condominium, townhouse, or another type of property, it is likely that the bulk of your net worth is tied up in real estate. This is one reason that determining what to do with the house during a divorce is so important - and often so difficult.

There are seemingly countless legal, financial, and personal factors to consider when deciding what to do with the marital home during divorce. Selling the home may allow a couple to pay off joint debt and begin their post-divorce lives with a fresh start financially. However, this may also require uprooting children, moving to a new neighborhood, or living apart from family and friends.

If you plan to end your marriage and are struggling with this decision, consider reaching out to a divorce attorney experienced in property division matters for help.

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Will County Prenup AttorneyPrenuptial agreements are legal contracts that specify spouses’ financial rights and responsibilities. For years, many people mistakenly assumed that prenuptial agreements were only necessary if a couple is extremely wealthy. However, more and more individuals of varying ages, races, and income levels are recognizing the benefits of signing a prenuptial agreement. If you are engaged to be married, here are five strong reasons to consider drafting a prenuptial agreement.

1.  To Protect Your Assets

If you have significant assets, such as real estate, investments, retirement assets, or high-value items such as artwork, you may want to consider getting a prenuptial agreement to protect those assets in the event of a divorce. A prenuptial agreement allows you to classify property as non-marital property and prevent the property from being transmuted into marital property during the marriage. Without a prenuptial agreement, your assets could be subject to division by the courts in the event of a divorce.

2.  To Protect Your Business

Business owners, entrepreneurs, and individuals with professional practices are encouraged to get a prenuptial agreement to protect their businesses. These assets may be subject to division if the marriage breaks down. A business owner or professional may be required to compensate his or her spouse for the spouse’s share of the business or professional practice during a divorce.

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Markham Divorce LawyerIn Illinois and throughout the country, same-sex couples now have the right to marry, and with that comes the right to adopt or raise a child together. However, this also means that should these couples choose to separate or divorce, they can face complex child custody disputes.

If you are an LGBT parent facing a child custody dispute, it is important to understand your rights under the law. In Illinois, parents have equal rights when it comes to making decisions about their children's upbringing—regardless of their sexual orientation or gender identity. This blog post will explain the legal framework surrounding child custody disputes involving LGBT parents in the state of Illinois.

Unmarried Parents May Not Have Parental Rights

Parentage, formerly called “paternity,” refers to the legal child-parent relationship. A woman who gives birth to a child is that child’s legal parent. Her spouse is also the legal parent of the child. If the parents divorce, both parents have a right to parenting time and parental responsibilities.

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Orland Park Divorce LawyerDomestic violence touches the lives of people from all backgrounds, ethnicities, and lifestyles. It can take many forms, including physical abuse, verbal abuse, emotional abuse, financial control, and sexual abuse. Many people who are caught up in abusive relationships live lives filled with fear, anger, and confusion. They desperately wish to get out of the relationship, but they worry about the consequences of doing so.

If you are in an abusive relationship, know that you are not alone and that there is help available. It is important to remember that leaving an abusive partner can be dangerous, as abusers may become more violent when they feel threatened. With safety in mind, here are some tips for taking the first steps to leaving an abusive relationship.

Protecting Yourself When Leaving an Abusive Partner

Many people stay in abusive relationships for months, years, or even decades because they fear retaliation or simply do not know how to protect themselves when leaving the relationship. If you are ready to take back your life and leave a violent situation, consider the following:

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Joliet Hidden Asset Divorce LawyerA divorce is a stressful process, and it is even more difficult if one spouse is hiding assets or lying about their finances. Divorcing spouses are required to provide an accurate account of their income and assets during a divorce. This information is used to determine child support, divide property and debts, and more. However, some spouses lie about money or hide assets during divorce.

It can be difficult to tell whether your spouse is being truthful during the divorce process, but there are a few signs that could indicate financial dishonesty. Knowing these signs can help you protect your rights and make sure you get the outcome you deserve.

Missing Documents or Bank Statements

If you have begun proceedings for a divorce in Illinois, it is important to keep an eye out for any missing documents or bank statements. If documents go missing or if your spouse stops providing you with financial information, this could be a sign that they are trying to hide something from you. Check with tax records and financial institutions to make sure all documents are accounted for.

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