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Oak Park, IL divorce attorney property division

It can sometimes take a long time for a couple to come to the realization that their marriage should end. Regardless of the reasons for the relationship breakdown, sometimes it is for the best. The legal process of ending a matrimonial union involves many steps and decisions regarding various issues. Divorce laws vary by state, but in Illinois, the division of property follows the equitable distribution method. This means that marital property and assets are divided in a fair way, but not necessarily 50/50. Any property that is acquired during the marriage is subject to division. However, if your ex-spouse did not disclose all of his or her financial information, the divorce settlement is likely unfair. With the help of an experienced divorce attorney, you may request a modification of the property division orders.  

Hiding or Dissipating Assets

It is possible that your former spouse hid or dissipated assets toward the end of your marriage in order to gain a financial advantage in the final proceedings. For example, if there is less money in a bank account, there is less to split. There are several ways that someone can engage in these deceitful behaviors. Spending or wasting funds after the relationship has irretrievably broken down is considered dissipation of assets. Hiding property by putting it in another party’s name or assigning it a lower value are examples of ways that a spouse can be untruthful during the divorce process. 

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Hillside prenup lawyer alimony property division

Marriage is a big decision, and before entering into that legal partnership with your spouse, you may want to take steps to protect your rights, your property, and your finances. In many cases, a prenuptial agreement can be beneficial for both spouses. However, before entering into a premarital agreement, you will need clarification on what can and cannot be included in the prenup. Discussing your thoughts and ideas with an experienced family law attorney will ensure that you understand how to create an agreement that meets your needs.  

Personal Matters

Before getting married, you may want to address how certain matters will be handled between you and your spouse. While a prenup may include certain rules about personal issues such as chores, holiday plans, friendships, or hobbies, these terms will typically not be legally enforceable. For example, you may want to make an agreement about who will be responsible for cooking and cleaning, but a prenup cannot impose penalties if one spouse fails to abide by these arrangements. You should speak to your attorney to discuss whether to include these types of terms in your prenup.

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