The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

Yorkville Office By Appointment

Geneva marital property division attorney

Divorce is not a simple process, even if you and your spouse are on good terms with one another. There are many issues you have to think about, from dividing assets to allocating parenting time to ensuring you receive the right amount of child support. When it comes to splitting up your marital assets, both spouses are required to give full disclosure about their assets and debts. However, there are several important issues that are often overlooked or forgotten when it comes to dividing marital property. 

Marital Property Division

When it comes time to create a list of your assets and debts, you probably have a good idea of what should be included. Assets include things such as bank accounts, real estate, vehicles, and other items of value. Debts include money that is owed on mortgages, auto loans, school loans, or credit cards. However, many people often overlook assets that are not as prominent as others.

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North Aurora divorce attorney

Since mid-January, we have been bombarded with cards, heart-shaped chocolates, and a whole lot of red and pink every time we walk into a store. Valentine’s Day is regarded mostly as a “greeting card” holiday, but celebrating it can bring a little fun into those cold winter days. For people who have gone through a separation or a divorce, however, February 14 is just another day to remind them that their romantic relationships have not worked out so well. Although it can be painful to be reminded of love, you do not have to spend the day moping. Instead of being miserable on Valentine’s Day, below are a few ways you can make the holiday fun again.

Spend Time With Family and Friends

The best way to get through the day is to surround yourself with your friends and family members. Going through a hard time is always much easier when you have a good support system. Plan a night out with your friends, siblings, or cousins and make a point to focus on them and not the couples around you.

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Batavia parenting time attorney

"Divorce" and "peaceful" are probably two words that you never thought you would put in the same sentence together, but a peaceful divorce is not as rare as you might think. Amicable divorces are beneficial to everyone involved, especially if you have children. Having a peaceful divorce does not just happen by chance -- you have to not only want it to happen, but you also have to work hard to make it a reality. Although it takes two cooperating spouses to achieve a truly amicable divorce, there are certain things you can do to encourage a tranquil resolution. Below are a few tips to attain the ever-illusive harmonious divorce, which can help everyone with this major life transition. 

Be Respectful to One Another

There are a number of common reasons why couples get divorced, some of them being addiction issues (gambling, drugs, or alcohol), infidelity, or even domestic violence. Even though these issues can make it difficult to maintain respect for your spouse, keeping a mutual level of respect between the two of you is important to having a smooth divorce. Arguing or disrespecting your spouse in front of your children can make kids feel like they have to choose sides, which can be detrimental to their emotional well-being. The breakup of the family unit is traumatic enough, so do not add extra stress on them. 

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Kendall County prenuptial agreement attorney

When you tell people that you and your spouse have signed a prenuptial agreement, some may react with surprise. There are many benefits to getting a prenuptial agreement before you are married, but some people still feel a negative stigma against such documents. Although you may not have imagined your marriage would end in divorce when you were drafting the prenuptial agreement, it has now come to that point. Prenuptial agreements usually dictate how certain assets and property are divided in the event of a divorce, among other issues. However, if you no longer think the agreement is fair, can you do anything about it? It is important to know your options for contesting a prenuptial or postnuptial agreement if you find yourself getting divorced. 

Examining Your Prenup

Prenuptial agreements are legally binding documents, but they can be challenged. If you believe that your prenuptial agreement is not valid, you should contact your divorce attorney right away. He or she will be able to bring your concerns to the judge and will be able to help you examine the reasons why it would be unenforceable. Once the issue is brought to the court’s attention, a judge may invalidate specific sections of the agreement or even throw out the entire agreement. Here are a few common reasons why a prenuptial agreement may be found invalid:

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DuPage County asset and property division attorney

Engagement rings are common in today’s society for couples who plan to get married, but they have not always been. The first engagement ring was given in the 1400s, but they did not become popular in the United States until the 1940s when the De Beers Company launched the famous “Diamonds are forever,” campaign. Now, many couples see purchasing an engagement ring as an investment, with the average cost of an engagement ring in the United States being somewhere around $6,324, according to Business Insider. In the state of Illinois, the average cost of an engagement ring is a little higher at $7,110. Along with the wedding band, these can be highly sought items when the property is divided in an Illinois divorce.

Marital and Non-Marital Property

When it comes to property division, Illinois recognizes that there is a difference between marital and non-marital property. Only marital property is subject to division in a divorce. According to the Illinois Marriage and Dissolution of Marriage Act (IMDMA), all property that is acquired by each spouse during the marriage is considered to be marital property. However, there are exceptions to that rule. For example, property that is obtained by either spouse through “gift, legacy, or descent” or property acquired in exchange for such property is considered to be non-marital property and therefore not subject to division.

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The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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