It is important to consider the tax treatment of various assets when dividing marital property to ensure a fair division. Say, for example, you and your spouse have a 401k as well as a Roth IRA, both with roughly equal dollar amounts. On the surface it may seem that awarding one to each spouse makes…Read More
Exclusive Possession of the Marital Residence in an Illinois Divorce
Under the Illinois Marriage and Dissolution of Marriage Act (IMDMA), exclusive possession of the marital residence means that one spouse is subject to temporary eviction from the home while a divorce case is pending. Exclusive possession allows one spouse to go so far as to change the locks on the matrimonial home if he or…Read More
Should I Stay or Should I Go? What to Do With the House in a Divorce
The family home is often the most valuable asset divorcing couples share. As you divide marital assets, you will have to decide whether: (A) you and your spouse want to sell the house and split the proceeds (B) one spouse wants to buy the other spouse’s share and continue to live in the home or…Read More
Separating From Husband – Do I Need a Lawyer?
Sometimes couples will embark on a trial separation to decide whether divorce is the right decision or may just decide to leave the marital home knowing divorce is imminent. Before you separate or move out of the marital home, it is important to discuss your plans with a family law attorney. Even an initial consultation…Read More
Keeping the House in a Divorce – Look at Big Picture
When dividing marital assets in a divorce, one of the biggest issues facing couples is who will continue to reside in the marital home. If there are younger children involved, keeping the home may seem like a good option in terms of stability therein allowing your children to continue going to their local schools and…Read More
The Devil is in the Details…Financial Affidavits Matter in Property Division
Divorce can be an exhausting, emotional process. There are many things to consider, particularly in the area of property division. In all contested divorces (and a number of uncontested) divorces, couples are required to complete a financial affidavit formally detailing their income, expenses, assets, debts or liabilities to inform the court in the matter of…Read More
Temporarily evicting a spouse from the marital home
After an Illinois couple decides to make the difficult decision to end their marriage, one spouse will often move out of the marital home. However, it’s not always easy to decide which spouse will be packing their bags. A common question asked to family law attorneys is whether it is possible to force a spouse…Read More
