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Property Division Archives

Discovering hidden assets important in property division

There is no doubt that the end of a marriage is often a difficult time -- sometimes both financially and emotionally. While some couples in Illinois are committed to making the divorce process as seamless and peaceful as possible, there are others who may attempt to hide certain assets during the property division process. As such, many people often turn to the law office of Lois Kulinsky & Associates, Ltd. for guidance.

Property division and retirement accounts

People enter into marriage in Illinois believing that theirs will be the marriage that will last. In about 50% of marriages, that is not the case. Divorce itself can be complex and property division in particular can be very involved. Many divorces are happening between older couples who have accumulated significant assets in their retirement savings accounts.

Property division when an Illinois business is involved

Few people -- even those who may have created a prenuptial agreement -- are ever fully prepared for the emotional and financial ramifications of a divorce. Despite the complications that the end of a marriage can create, often people in Illinois and across the country come to the conclusion that such a path is in their best interests. As such, many turn to the law firm of Lois Kulinsky & Associates, Ltd. for help with the variety of different decisions, including those involving property division, that will ultimately lead to a new, likely happier, and more fulfilling start.

What happens to embryos in a divorce?

In the past, couples who were unable to have children were left with few options. However, advances in medical technology, including in vitro fertilization, have opened up doors for those in Illinois and elsewhere who desire children but struggled to conceive. Unfortunately, family courts are often forced to decide what happens to embryos should the relationship end in a divorce when one person wants to have a child and the other does not.

Experienced Illinois attorneys help with property division

Many couples in Illinois often come to the decision that their marriage is no longer functional for all involved, including any children of the relationship. Often, a divorce is the best choice for a happier, more fulfilling life. However, the process and separating the financial lives of two people can be complicated. As such, many turn to Lois Kulinsky & Associates, Ltd. for guidance with property division.

Property division: Dividing a business during divorce

Many people in Illinois work hard to make the businesses that they own a success. This often involves a great deal of sacrifice -- of both finances and time. If a business owner is married, his or her spouse may also have to sacrifice even if not directly involved in the business. As a result, a business is an important and sometimes complex consideration as part of the property division process if a couple decides to divorce.

Easing property division with a valid prenuptial agreement

Many people in Illinois considering matrimony have many things under consideration as their wedding date approaches. While it may be difficult to think of the relationship ending, creating a prenuptial agreement can often significantly ease the process should a divorce occur. This may be especially important for those who own their own business or expect a large inheritance and want to protect their interests during the property division aspect of a divorce. However, in order for a prenup to be valid, there are several considerations.

Pets considered in property division?

There is an understandable concern about ensuring the best interest of children during a divorce regarding their living arrangements and a visitation schedule. However, until recently, similar concern has not been extended to family pets. In fact, in the past, pets would more likely be considered more a part of the property division process in Illinois and other states rather than concern about their overall well-being taken into consideration.

Discussing property division in a prenuptial agreement

It seems that millennials in Illinois and across the country are trendsetters. A great deal of their behavioral patterns are changing many things, including the way people conduct business. In fact, recent reports indicate that the actions of millennials are also changing certain ideas about marriage. For example, prior to their marriage millennials are much more likely to consider property division issues that might arise in a subsequent divorce by creating a prenuptial agreement.

Some states no longer deciding pet custody in property division

When an Illinois couple or one elsewhere around the nation decides to get a divorce, there are a multitude of decisions that must be made. Typically, many of the decisions deal with property division and determining who gets what after the couple is no longer together. In the past, most courts viewed a couple's pets as property and made their determination as to where a pet would reside with that mindset. However, many states have enacted laws -- or are planning to -- that will consider custody of pets in the same manner as child custody.

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