When people sign a prenuptial agreement during their engagement, they often imagine doing so is unnecessary. They intend to have their marriage last forever, only to discover that simply won't be the case later in life. In many cases, it is only when a marriage starts to fall apart that spouses may carefully consider the contents of their prenuptial agreement.
There are many uncertainties involved in getting a divorce. Unless you and your spouse agree on specific terms for asset division and other issues via a prenuptial agreement, uncontested divorce or negotiated terms, the courts will end up making the major decisions. Since every marriage and every divorce is unique, it's impossible for anyone to accurately predict the exact outcome of your divorce.
Divorce can bring out the worst in some people, leading them to do things that they usually wouldn't consider. Sometimes, for example, one spouse may take steps to intentionally hide marital assets from the other. They do this in the hope that it will result in more assets for them when the courts finalize the divorce. If caught, the person hiding assets could end up receiving much less as a result of this attempt.
A high-asset divorce has the potential to drain your income quickly, especially if you and your spouse can't come to an agreement on how to split your assets. Fortunately, there are alternatives to spending too long fighting each other. You can choose arbitration or mediation to help you resolve your issues quickly while protecting the assets you want.
Once you've reached the decision that a divorce is the only solution to your marital problems, there are a lot of issues to consider. Divorce can impact your social relationships, as well as your financial situation. Most people want to know what to expect during the process of getting divorced and afterward, when they are rebuilding their lives.
There may come a point when you realize that divorce is the best way to escape a bad marriage. Although this is going to change your life in many ways, you should keep in mind that things will get better sooner rather than later.
Following your instincts and intuition is vital in life, but during your divorce proceedings, you might want to keep your "instincts" in check. This means that if your spouse upsets you and your instincts say it's time to raise your voice, consider taking ten deep breaths and seeing how you feel afterward.
There are a lot of factors that impact how assets get divided during a divorce. The kind of divorce you're seeking, whether or not there is a prenuptial agreement on record and even custody of your children, can have an impact on who gets what. The courts in Illinois strive to fairly divide all marital property between both spouses during a divorce.
Now that you are starting to take the first steps to move forward with divorce, do you expect the judge to include spousal support as part of the divorce decree? A Cook County judge is going to examine certain factors in making an alimony determination. For example, the court might examine the property each of you will walk away with when the divorce is final, your earning capabilities, the length of your marriage, and even your health and mental condition.
Deciding to end your marriage is the first decision you will make in what is usually a very stressful and complex process. This is especially true when you have a substantial amount of assets to divide. On top of determining whether to sell your primary residence in Orland Park or keep it, you and your wife will have to negotiate over the retirement and investment accounts, your vacation home, and everything down to the living room furniture.