Palatine family law attorney, debt division, Illinois divorcesWhen a couple dissolves their marriage, all marital property, including both assets and liabilities, must be allocated between the spouses. Dividing marital debt is a similar process to dividing assets; however, there are unique issues that come with apportioning debt in a divorce.

Equitable Distribution

The best and simplest solutions are when spouses are able to either pay off their debt or collectively divide their debt before filing for divorce. However, these options are not always possible, and the Court may need to split the marital debt.

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Posted on in Division of Property

marital waste, Palatine Family Law AttorneyIn Illinois divorces, Courts divide spousal property, according to the principles of equitable distribution. Therefore, marital property is divided fairly between spouses. Equitable distribution, however, does not necessarily mean equal property division.

Waste

One instance in which marital property will not be equally divided is in the event of marital waste. Marital waste, or the dissipation of property, occurs when one spouse dissipates assets prior to the divorce. Dissipation of both marital and separate property is taken into account. If the Court finds that one spouse has committed waste, the Court will take the waste into account when determining a fair division of property.

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Posted on in Division of Property

fault divorce in Illinois, Palatine Family Law AttorneyAll U.S. states now have no-fault grounds for divorce. However, Illinois is somewhat unusual — in that Illinois also currently provides for fault-based grounds for divorce. Obtaining a no-fault divorce in Illinois generally requires a two-year waiting period. Fault divorces are quicker, however, and require no waiting period. Still, the spouse seeking a divorce does have to prove fault, which can be difficult.

Grounds

Illinois law provides for several different fault-based grounds for divorce and include the following:

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Palatine divorce process, Palatine Divorce LawyerYour divorce decree is signed; however, the signature does not mean your work is finished. The signed order may end the marriage, but your responsibility is to tie up the loose ends.

Change Your Name

While your divorce decree may have included a provision allowing you to use a former name, there are steps you must take in order to legally change your name. To begin, you will first need to officially change your name with the Social Security Administration. A new Social Security card under your new name will be issued. Only then can you obtain a new driver’s license or state identification card and begin changing your name elsewhere.

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dissipation of a marital estate, Palatine Divorce AttorneySomeone contemplating divorce is likely to hear this piece of advice from friends and family: “Before you file, make sure you start putting money away in a separate account for yourself. You do not want to be left with nothing.”

Although well-meaning, this is actually bad advice. Illinois prohibits intentional dissipation of a marital estate, and doing so could result in you receiving less when the marital estate is divided.

Use of Marital Funds during Palatine Divorce

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