When you imagine going through a divorce, images of repeated battles over the house and the money may understandably play on the screen in your mind. The reality is that some family law disputes may simply be impossible for you and your spouse to resolve on your own, namely the distribution of assets, child custody or the division of property. When dealing with these types of matters in a contested divorce, divorce mediation can be a helpful solution in Illinois.
Bankruptcy and divorce often go hand in hand in Illinois. At Lois Kulinsky & Associates, LTD., we understand that debt is common in a divorce situation. Every situation is unique and bankruptcy laws are firm, so it is important to know what you may face when filing whether it is before or after a divorce.
When your marriage is ending in Illinois, you have to divide property and settle financial matters. One of the biggest property division issues you are likely to face is what to do with your family home. According to Bankrate, divorce does not affect the status of your mortgage as far as the lender is concerned. If the mortgage is in both of your names, then it will remain that way after the divorce unless you make moves to change it. One of your options is to sell it.
If you are getting child support in Illinois, you may wonder what exactly the support is to be used for. It is probably likely that you do not get enough support to cover every expense your child has, but this is not how child support is intended to be used anyway. According to the State of Illinois Circuit Court of Cook County, child support is to help with essential expenses. These are things like housing, food and basic clothing. Extra expenses that are not considered essential are not supposed to be covered by child support.
Child support is a court-ordered obligation. The idea is that you are helping to pay for your children’s needs. Support orders in Illinois are made with a careful examination of your financial situation and that of your child’s other parent, along with the needs of your children. Sometimes, though, situations change, and you may find yourself at a point where you simply cannot afford to pay your child support.