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St. Charles divorce attorney parenting time

Many struggles have accompanied the COVID 19 health crisis. Whether it be limited access to food, job loss, reduction of income, or isolation, it is safe to say that the past several months have been a hard time for everyone. However, if you are living with your soon-to-be ex-spouse, it can be even more difficult. If the pandemic hit right when you were thinking about getting a divorce, it could be that plans to legally end your marriage have been put on hold for various reasons.

Navigating the Proceedings Together

If you and your spouse are on OK terms, living with one another during the divorce proceedings can be a rather amicable experience. Since going through this pandemic can be a bit stressful, and perhaps isolating, it may be nice to have someone there for the company. But if that is not the case for you, it can be frustrating to cohabitate with someone you do not get along with.

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St. Charles divorce attorney asset and property division

Divorce can require you to do a number of things that you likely never expected when walking down the aisle. If you have children, your primary concerns are probably focused on creating a healthy and fair parenting plan. For those who have a family business, you may be concerned about how this will be divided between you and your spouse. Some of the divorce determinations may be unique based on your family’s circumstances, but one area that every divorce requires to be addressed is the division of marital property. Whether you have been married five months or five years, anything accumulated during that time is considered marital property and must be divided equitably according to Illinois state law. Many couples’ largest asset is the home that they have built together and it can be the most difficult belonging to “divide.” Since an apartment or house cannot physically be cut in half, there are other means that can be taken to determine what is fair.

What Is an Appraisal?

In order to properly determine the current value of your home, one should seek out a professional who specializes in such work. The price at which you bought your home is unlikely to be its current value and looking at the cost of homes in your neighborhood is not enough for a true estimate. An appraisal provides homeowners with the value of their home based on prices in the area and the features of your house. An appraiser will come into your home to complete an inspection of the property. They will look at all of the work you have put into your home and all of the features that elevate its value. The professional will then factor in recent sale prices of homes in your area and use both numbers to provide you with the true market value of your home. 

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St. Charles divorce attorney parenting plan

If you are a parent considering divorce, you probably have a million questions swirling through your head. Who will be the primary caregiver of my children? How often will I see them? Where will my kids live and how long will they be at each house? Imagining carting your children between two homes can seem unfair and difficult, especially for kids who are old enough to have homework, after-school activities, and friends to see on the weekends. It can feel as if their lives are always in transition between one home and another. A recent phenomenon has caught the attention of divorcing parents who might be concerned about this two-home lifestyle for their children. Before making decisions about what will happen to the family home and how your children’s time will be divided between you and your ex-spouse, learn about a new option many families are considering: Nesting.

One Home Sweet Home

What most families will do once their divorce is finalized is have one parent remain in the family home as the primary caregiver while the other finds an apartment or alternative living space where the children can visit based on their parenting plan. The two separate living spaces can be beneficial for former spouses, but it can be difficult for kids to live between two homes. Nesting is a modern alternative that many co-parents have begun to consider in the weeks or months following their divorce. Rather than having the children come to the parents, the parents come to the children. One parent will keep the family home and the kids will continue to live there full-time and each parent will stay at the house when it is his or her scheduled time with the children.

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St. Charles family law attorneysThere is no denying that a divorce can be a complicated process. The legal dissolution of a marriage is not simply signing a piece of paper. Decisions about important issues need to be made, including how a couple’s assets and property will be divided. In some situations, spouses may have complex or high net-worth assets, including a family business. It can be difficult to determine how to handle the company’s ownership after the divorce, especially if both spouses are active in running the day-to-day operations. There are several options when it comes to dividing this intangible asset. Regardless, it is important to hire a knowledgeable divorce attorney to help protect your rights. 

The Equitable Distribution of a Company

According to Illinois law, marital property is subject to equitable distribution. This means that any assets or property acquired during the marriage will be divided fairly but not necessarily equally in half, or 50/50. Some couples may create a prenuptial agreement to decide ahead of time how to disperse marital assets in case they get divorced. Some couples may choose to sell the business, continue to jointly own it, or buy out their share.

When considering what happens to a business, if one spouse started a company before he or she got married, the business may be considered non-marital or separate property. In other cases, one or both spouses may have opened a store or launched a business together after they took their vows. In these instances, the business would likely be classified as marital property. 

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Kane County divorce attorneysWhen two people get married, they rarely think at the time that they might get divorced. However, statistics show that 40-50 percent of all U.S. marriages end in divorce. In some cases, a couple may be married for three years and split up after one spouse has engaged in an extramarital affair. In other situations, partners who have been together for 20 or 30 years may realize they have nothing in common after their kids leave and they find themselves “empty nesters.” Regardless of how long a marriage lasts, some of the same issues will need to be addressed before spouses can legally terminate their marriage. There are several characteristics that can make a divorce complicated when it comes to making determinations in how the marital estate will be divided.   

Child-Related Issues 

With multiple issues to resolve, a couple may have trouble agreeing on certain matters. This can include child-related issues if they have young kids, such as the allocation of parental responsibilities (child custody) and parenting time (visitation). Both parents may want to have equal decision-making authority and spend as much time with their children as possible. If spouses cannot agree on an arrangement, the court will intervene and make a decision based on the best interest of the children. Co-parenting can be especially difficult when spouses harbor resentment or anger toward each other. 

Division of Assets 

One of the most contentious aspects of a divorce is the division of the marital estate. Splitting up property and assets can cause many disputes. Illinois is an equitable distribution state, which means marital property is divided in a fair way but not necessarily completely in half.  

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