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Property Division Archives

Airline miles may need to be included in property division

Divorce is a fact of life for many Illinois couples. As a part of the divorce process, the couple must itemize their assets and divide them as part of the property division process. While bank accounts and furniture are usually obvious, there are sometimes assets that are not as readily apparent but which still need to be accounted for.

Finances an important part of property division

At first, the idea of a divorce may have come as a shock. While this may be the case, there are often signs pointing in this direction. One of the most important signs in many cases has to do with finances. When it comes to an Illinois couple's divorce, property division and the role that finances play can be an important consideration.

Illinois divorce, property division and pet custody

They are a part of the family. In many Illinois homes, the dog and/or cat are considered to be a vital family member. While they do require food, love, medical attention and more, they often give so much more to the family. The state of Illinois has recognized that pets are an integral part of the family and has recently begun addressing pets as a custody issue rather than a property division one when couples divorce.

Property division and the business owner

Each Illinois resident has dreams for the future. Some dream of a loving family with a spouse and children; others dream of starting their own business or growing one that has been in the family for generations. Still others dream of both. These dreams often do become reality; however, they can also become a nightmare in case of divorce and the need for a property division settlement.

Property division in an Illinois divorce

Who gets what is a common point of contention when an Illinois couple decides to divorce. Often, the couple is unable to agree upon the property division aspects of the divorce agreement. Each individual may want the same item or may believe that he or she is entitled to receive a specific portion of the marital property.

Property division: What should be done with the house?

When divorce is inevitable, Illinois residents may wonder what to do with their assets and property. Deciding what to do with the house is a common discussion point. Family law attorneys can assist with this aspect of property division as well as others. 

Property division may have many different aspects to consider

A Illinois couple may face many difficult decisions once they decide to get a divorce. One common factor spouses must consider is property division. This may be a complex process, depending on the couple's finances and assets. In addition to consulting a divorce attorney to assist in the legal proceedings, there may be steps individuals can make to make the process easier.

Understanding finances and assets could aid in property division

There may be many events a couple plans during their lifetime, such as getting married, buying a house together or having children. Divorce is rarely on the list. However, when Illinois couples decide that divorce is imminent, there may be steps each spouse can take to aid in the process. Considering one's assets can help determine how to conduct property division.

Property division may be complicated without an attorney

Illinois residents who are contemplating divorce have a lot to think about. One of the main considerations to make is in regard to property division. Depending on the couple's finances, this may be complex. Fortunately, divorce attorneys can help individuals determine how best to divide assets fairly.

Property division may be easier with a prenuptial agreement

Several years ago, the idea of signing a prenuptial agreement may have been seen as unromantic and viewed as a lack of trust between partners. However, many couples in Illinois and around the country are now choosing to have these agreements created. Couples, particularly those in the millennial generation, are finding that there could be many reasons to secure their individual finances to make property division easier in the event of a divorce.