It is common for spouses to mutually agree that one will work outside the home, while the other stays home to raise children or manage the household. When couples in these situations divorce, the spouse who did not work for pay is often fearful about how they will support themselves going forward. Fortunately, Illinois courts consider the value of non-economic contributions made by a homemaker spouse during property division decisions.

Illinois law also offers opportunities to homemakers in the form of spousal maintenance. Working with an experienced divorce lawyer can help ensure that you take full advantage of these opportunities. 

What Legal Protections Do I Have as a Homemaker During Divorce?

When a spouse has been out of the workforce for years, it can be difficult for them to fend for themselves financially. Courts will usually try to prevent a situation where one spouse is unable to support themselves and provide for their basic needs after getting divorced. If you gave up a career to devote yourself to homemaking or child-rearing, these options may be available to you: 

When a couple divorces, they must determine how to divide the property they accumulated during the marriage. According to Illinois law, nearly every asset that a couple obtains during the marriage is considered marital property in a divorce. Assets that were obtained before the divorce are nonmarital or separate property – with some exceptions.

If you are getting divorced, you may have questions about how your retirement assets will be handled. You may ask, “Does my spouse get a portion of my retirement funds?” Or “Will I have enough money to retire if I get divorced?”

Who Gets Retirement Savings?

If you are like many people planning to divorce, you may assume that your retirement savings are yours alone. After all, your retirement assets were earned based on your hard work. However, retirement assets are typically treated just like any other asset during divorce. Unless you have a prenuptial agreement or another type of marital agreement that gives you sole ownership over retirement assets, any assets you earned during your marriage are likely marital property. This means that your spouse does have a right to an equitable share of the retirement assets. Assets that you earned before you got married are non-marital assets.

Reaching the decision to divorce can be just as difficult as the divorce itself. Married couples may try to make the marriage work for years before finally admitting defeat. Typically, by the time a couple files a Petition for Dissolution of Marriage, the marriage is beyond saving. However, relationships are complex and sometimes, a divorcing couple changes their mind. Read on to learn about your options if you have changed your mind about ending your marriage through a divorce in Kane County.

Filling a Motion to Dismiss Divorce Proceedings

Divorce is final. Once a divorce is complete, the spouses’ marriage is over. If they decide that they made a mistake in getting divorced, their only option is to get re-married – which can come with its own complications.  However, if both parties agree, you can completely stop divorce proceedings before the final divorce judgment is issued. You can file a Notice to dismiss the Petition for Dissolution of Marriage and stop the divorce from proceeding. However, if the parties do not agree, and a Counter- Petition for Dissolution of Marriage had been filed, the divorce proceedings will continue.

Protecting Yourself Legally and Financially During Reconciliation Attempts

Sometimes, a spouse decides to give the other spouse a second chance. If you thought you wanted to divorce but now you want to attempt to reconcile your marriage, you may want to take certain steps to protect yourself and your finances. Some people use a postnuptial agreement to protect their finances in a situation like this. A postnuptial agreement is like a prenuptial agreement, but it is signed after the couple is married. A postnuptial agreement may be used to protect a spouse against another spouse’s debt, separate marital property from non-marital property, protect a spouse’s business interests, and more.

There is no getting around the fact that divorce has considerable financial implications for both spouses. Going from a two-income household to a one-income household can turn your life upside down. The division of property and debts, spousal maintenance, and child support can also change your financial situation substantially. When starting the divorce process, spouses must consider the role of finances and make plans to prioritize their post-divorce financial wellbeing. For many divorcing spouses, this requires an honest assessment of their financial situation – perhaps for the first time ever.

Do Not Wait to Educate Yourself About Your Finances

Many married couples divide household chores and responsibilities. One spouse handles financial concerns like paying the bills, applying for credit cards, or balancing the checkbook while the other spouse handles non-financial concerns. Unfortunately, being “out of the loop” regarding finances can make you extremely vulnerable in a divorce case. Without being aware of your assets, debts, and income, you cannot make informed decisions during the divorce process. Financial ignorance can also make you blind to financial deception during the asset division process.

Start gathering your financial documents now. Obtain and make copies of:

If you have ever watched a television show or movie about divorce, you may assume that all divorce cases involve dramatic courtroom showdowns. However, this is a far cry from reality. Most divorce cases settle before they go to trial. Less than five percent of divorce cases actually go to trial. In this blog, we discuss the role of the marital settlement agreement in Illinois.

Settling Divorce Issues Before Going to Trial

Divorce trials are stressful and expensive. In most cases, settling the divorce and avoiding a trial is the better option for everyone involved. (Though there are still some cases in which a trial is necessary). 

A Marital Settlement Agreement (MSA) contains the agreement that the spouses have reached regarding divorce concerns such as asset division, spousal maintenance, the allocation of parental responsibilities, and parenting time.