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Anderson and Associates, P.C.

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Arlington Heights marital property division lawyer

When a married couple gets divorced, they must split up the life they created together. When it comes to dividing property, there are many factors that determine who gets what during a divorce. However, each spouse is entitled to receive a fair portion of the marital assets. During divorce, it is best to seek legal counsel in order to understand your rights and the best approach to take as you determine how to divide your marital property. 

Equitable Distribution 

In the state of Illinois, marital property is divided using a system of equitable distribution. While this term may lead one to believe that property is divided equally, this is not necessarily true in every case, and property will be divided based on what is fair for both spouses. There is rarely a 50/50 split of property during a divorce. What is determined to be fair by the courts is based on a variety of factors, including: 

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Palatine divorce lawyer adult children

When a married couple decides to get a divorce, a child under the age of 18 is directly affected. In Illinois, the parental responsibilities for a child are allocated between parents during divorce. The living situation of a young child may change as well, since parenting time is also split between each parent. However, once a child becomes an adult and has moved out of the house, the parents' divorce may not change his or her day-to-day life, but it can still have a significant emotional impact. It is important for parents to communicate with their adult child throughout their divorce proceedings, and this can help all family members make as smooth a transition as possible. 

Tips for a Positive Relationship With Your Adult Child

Parents may assume that an adult child will be unaffected by divorce. In fact, a child of any age who is watching his or her parents get divorced is still likely to face a variety of challenges. When living away from home, a divorce may come as a shock, and a child may struggle to adjust to the changes. Although an adult child can, in theory, process the trauma of divorce better than a young child, he or she may not want to deal with the emotional baggage, and this can cause relationships between parents and children to suffer.

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Barrington divorce lawyer for stay-at-home parents

These days, it is more common for both parents in a household to hold a career while raising children together. However, having one parent stay at home to raise children is still a popular option for many families. This choice may be the personal preference of the homemaker, or a couple may find this option to be more financially feasible. Either way, for a stay-at-home parent, getting a divorce can be a difficult and nerve-wracking situation.

If you are a stay-at-home parent, you are likely the primary caregiver for your children. Although you may have had a career or job at one time, being a full-time stay-at-home parent has taken you out of the workplace. It may be necessary to go back to work after a divorce to support yourself and your children, but several post-divorce financial solutions may assist you with getting back on your feet financially.

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Schaumburg divorce attorney summer parenting plan

Summer vacation is what students look forward to all year. However, if a couple gets a divorce, there can be much uncertainty around this time of year for parents and children alike. Without school to fill children's daily schedules, an entirely different schedule within your parenting plan may be necessary.

What Is a Parenting Plan?

When a married couple with children gets divorced, they must create a parenting plan. This is a court order that specifies how children will be taken care of after a divorce. The parenting plan will explain the amount of time each parent gets to spend with a child, and how parents will make decisions about raising their children. In Illinois, the terms “custody” and “visitation” have been replaced by “parental responsibilities” and “parenting time.” Instead of dividing legal and physical custody of children, parents may divide or share decision-making responsibilities, and each parent will typically be given parenting time with the children.

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Schaumburg divorce attorney

The decision to divorce is difficult for any married couple. Whether it is losing the person you love, not seeing your children as often, or adapting to a new lifestyle, everyone has valid fears when the divorce process begins. Another common concern is about personal finances after you and your spouse split. If your spouse makes a significant amount of money, or if you do not have a college degree, giving up that financial support may feel hopeless.

Division of Assets

Unless you signed a prenuptial agreement before getting married, Illinois has a process when it comes to property and debt in a divorce called equitable division. While this does not mean that each spouse gets an equal share of marital property, the division of assets is done based on what is fair, while taking certain factors into consideration. How assets are divided are based on the length of a marriage, how much each spouse contributed to the marriage, economic and health circumstances, and whether children are involved. When it comes to physical property, premarital assets are usually left with the owner, and marital assets are included in the equitable division process.

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