Going through a divorce can be extremely emotional and overwhelming. One of the most difficult issues to tackle is that of property division. Separating marital property may seem like a daunting task, as it can be hard to part with things that you have collected throughout your marriage. Yet, it is important to understand everything that constitutes marital property so that you can receive everything you are entitled to in the divorce settlement.
Many Illinoisans have been watching as the issue of same-sex marriage has come up in the courts of several other states. The first step came with the United States Supreme Court case United States v. Windsor, which ruled that same-sex couples are entitled to equal treatment in some circumstances. That decision has sparked a new round of litigation in state courts.
With a stroke of a pen, Illinois now recognizes same-sex marriages. The passage culminates after a long and difficult journey that saw the legislation pass in the Senate, then languish in the House last session.
Like marriage, divorce is a big decision that creates many more important choices such as the amount of alimony to be paid, property division and child custody, support and visitation. To address these important questions, Illinois residents may benefit from the following advice.
For many Illinoisans, divorce is fraught with many emotions, one being fear; fear that they will not get a fair share of the property division, fear that they will end up with the "bad" assets, fear that they will have to make a substantial post-divorce lifestyle change. These fears are particularly salient for the so-called "out spouse," that is, the spouse less familiar with the couples' financial situation. But, like most fears, knowledge and preparation can do a lot to inoculate against the potential sting.
For many Illinoisans, divorce is tough. It is an emotional time filled with tough decisions that will dramatically shape the person's future. That is true whether the person getting divorced is just starting out or farther along in their life.
For many Illinois residents, property division is one of the hardest aspects of getting a divorce. That is especially true for residents with significant assets, including property, retirement accounts, financial investments and closely held businesses.
Illinois residents are probably used to hearing about television star Jane Lynch because of her role in "Glee." But, she recently made news for a far different reason: an announcement that she and her wife of three years are getting a divorce. In the announcement, Lynch called the divorce "a difficult decision for us as we care very deeply about one another."
A new study has shown that divorces among couples aged 50 and over dramatically increased between 1990 and 2010. In 1990, only 10 percent of all divorces were among people over 50. In 2010 that number had risen to 25 percent of all divorces. In contrast, the under-50 divorce rate grew only marginally.
People who live in Illinois know that winter can sometimes be a dreary time. And, sometimes, these cold months can have effects on relationships. Some people say that divorce is most prevalent during January or February. There seems to be a consensus, however, that more divorces take place after the start of the new year than at any other time during the year.