Hoffman Estates divorce attorney property division

Dividing the marital home is a large part of many divorces and this is an extremely complex process. Couples typically have three choices when dividing the home—they can continue to be co-owners, one spouse may solely keep the home, or the couple can sell the home and divide the proceeds fairly. Regardless of the option the couple chooses, or a judge decides during property division hearings, it is important to have a professional appraisal performed on the home so everyone is aware of its current market value.

Reasons to Get an Appraisal

You may think you can estimate how much your home is worth but that number may not be accurate. Having a professional appraisal done on your home will provide you with a concrete number you can use when dividing or selling your house. This will also help avoid disputes if you and your spouse cannot agree on the value. If a dispute does arise about the value of the home, a family law judge may order you to have the home appraised anyway. Already having an appraisal in hand can help the divorce process move quicker. The value of homes changes regularly, depending on market conditions and the condition of the overall property. So, unless you have had it appraised very recently, your home’s value may have changed since your last appraisal.

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Northwest Cook County divorce attorney

If you are getting a divorce, you must make decisions based on reliable information. Unfortunately, there are many myths surrounding divorce in Illinois and the various issues people face during the process, such as child custody, visitation, and the division of marital assets. When going through the divorce process, recognize the common divorce myths that you may hear and understand the truth behind them.

You Must Prove Fault in a Divorce

When first considering divorce, you may think that you have to prove your spouse is at fault for the breakdown of the marriage. Oftentimes, the ending of the marriage is not anyone’s fault, people simply fall out of love or want to go in different directions. Fortunately, the only type of divorce you can file in Illinois is known as a no-fault divorce, which means you only have to state that the marital relationship has broken down and there is no chance of reconciliation. So, even if neither you nor your spouse was at fault for the divorce, you can still file to legally end your marriage.

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Barrington divorce attorney

Divorce can be an emotional process, and it also involves a wide variety of legal issues that can be difficult to understand. Both of these factors can cause people to make mistakes that may not only result in unfavorable decisions, but they can also make the divorce process more expensive. If you are going through a divorce, avoiding the following mistakes is crucial in order to protect your financial interests and future.

Fighting Unnecessarily

The stress of separating from your partner, when combined with the anger, sadness, or resentment you may be feeling, can result in fights that will not help your case. For example, you may argue about certain marital property based on a desire to win arguments with your spouse rather than out of a real need to keep these assets. Doing this can draw out the divorce process unnecessarily, resulting in higher costs that may leave you in a more difficult financial position following your divorce. While you may have to fight for what is rightfully yours, you should be sure to understand when these types of disputes will be necessary, and when they will be financially beneficial.

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Inverness divorce attorney

During your divorce, you will want to be sure you are working with an attorney who is the right person for your case. In some situations, you may have personality conflicts with your divorce lawyer, or the trust or confidence in your attorney may have broken down. If you are not receiving the legal help you need, you may ask yourself if you should change divorce lawyers. However, before ending your relationship with your lawyer and hiring someone else to represent you, you should be aware of some important considerations.

Reasons to Look for a New Lawyer

There are many reasons you may want to change the divorce lawyer who is working on your case. These include:

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Palatine divorce lawyer for real estate propertyProperty division is often one of the most contentious aspects of a divorce, particularly when it comes to the family home. You and your spouse will need to determine who will own your marital home, and many factors may come into play when making that decision. To help you decide what to do with the family home in your divorce, you can ask yourself the following questions:

Is the Home Separate or Marital Property?

In many situations, a husband and wife will purchase a home together after they have gotten married. If this is the case, the home is marital property, and it must therefore be included in the property division process during divorce. Illinois is an equitable distribution state, which means the home’s equity is subject to being divided between spouses. In some cases, one spouse will keep the home, while the other will receive other property of similar value. In other cases, the home may be sold, and the proceeds will be divided between the spouses. 

If one spouse owned a home before getting married, it will likely be considered separate property and may not be subject to Illinois’ property division rules. However, if one spouse made contributions to a house owned by the other spouse, such as by sharing in mortgage payments or assisting with improvements that increased the value of the property, that spouse may be reimbursed for their contributions to non-marital property.

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