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Tag Archives: Kane County property division lawyers

illinois prenup lawyerSo you are gearing up for a wedding in Illinois – congratulations! The time before your wedding can be one of the most precious and tender periods of your life. Preparing for a wedding is an exciting and exhausting process, and it is easy to let things slip through the cracks. Despite having so many things to do, one crucial thing that all couples should consider before they tie the knot is the value of a prenuptial agreement

Nobody wants to think about their marriage ending before it begins, and some people are reluctant even to discuss a prenup with their fiancé. However, there is a way to frame a prenup that could be considered gentle and even romantic: You love your fiancé so much that, starting right now, you are going to protect their interests – even if you separate later. 

A prenuptial agreement is the best way to protect your premarital assets and interests and can help you, and your spouse navigate a divorce with far less conflict in the future. Here are some things to consider as you contemplate whether you want a prenup:

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Kane County divorce attorneyDivorce is considered to be the second-most stress-inducing life event a person can endure. Only losing a spouse through death is more stressful according to the American Institute of Stress. In addition to the emotional difficulty of ending a marriage, divorce can also bring up challenges when it comes to shared property. If you and your soon-to-be-ex-spouse own your home, you will need to decide how that asset will be divided.

Benefits of Keeping the Home

Many divorcing couples struggle with what to do with the family home when they realize their marriage is ending. A large number of couples with children decide to keep the home. They may not want to introduce too many changes to the family at once or do not want school-aged children to have to change schools. When deciding which spouse will stay in the home and which will move out, there are a few factors to consider. Which spouse will have the majority of parental responsibilities (custody)? Does the person keeping the house have the ability to maintain the property adequately? Can one spouse afford the mortgage payment on his or her own? A financial adviser or divorce attorney can help struggling couples understand their options regarding their house.

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Kane County divorce attorneysDivorce can affect couples from all walks of life, even the financially flush. However, when wealthy people decide to end their marriage, the proceedings can differ somewhat from those who have relatively few assets to divide. For a wealthier couple, there will understandably be a more prolonged discovery period, as well as a focus on ensuring that all assets are properly identified and evaluated.

What Is Equitable Distribution?

The primary issue in high-value divorces is that because so much is at stake, each party is more likely to dig in and fight for what they see as their rightful share. In some cases, however, it is not the spouses but the court that decides what is an appropriate distribution. Illinois is an equitable distribution state, meaning that property is not divided 50/50 as it would be in a community property state. Rather, experts help evaluate each asset so that each party may receive a share that is equitable and fair based on the circumstances of the situation.

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Wheaton, IL 60189
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We serve clients throughout Kane County, Illinois including St. Charles, Geneva, Batavia, North Aurora, Elgin, Algonquin, Aurora, Barrington Hills, Bartlett, Big Rock, Burlington, Campton Hills, Carpentersville, East Dundee, Elburn, Hampshire, Huntley, Kaneville, Maple Park, Sleepy Hollow, Wayne, West Dundee as well as throughout DuPage County.

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In honor of the passing of our founder, Joseph F. Mirabella, Jr., our offices are closed Friday, January 31, 2020.I Agree