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Recent Blog Posts
What Is a Postnuptial Agreement?
Many Illinois couples sign a prenuptial agreement before the wedding, but far fewer people have heard of a postnuptial agreement. Postnuptial agreements are essentially the same thing as prenuptial agreements, but they are signed after a couple is already married.
Every couple’s situation is unique and an experienced Illinois postnuptial attorney is the best person to answer questions and draft a postnuptial agreement. Here are some of the most common reasons spouses in Illinois sign a postnuptial agreement, as well as the kind of issues postnuptial agreements can address.
Why Get a Postnuptial Agreement if We Are Already Married?
Couples may seek a prenuptial agreement for many reasons, but some of the most common include:
- Wealth inequality - If one spouse owns substantially more wealth than the other, they may want to protect their assets in the event of a divorce. Postnuptial agreements can ensure that spouses retain individual ownership of their personal assets that may otherwise be included in the property division process.
What Factors Could Invalidate a Prenuptial Agreement in Illinois?
Many couples decide to create a prenuptial agreement together before they get married. Although nobody wants to think about their impending marriage ending in divorce, the period before the marriage is actually a great time to negotiate a prenup because partners have plenty of goodwill towards each other and want to look out for each other’s best interests.
Unfortunately, many people discover that the prenuptial agreement they created is not legally enforceable. Even worse, they generally find this out at the worst possible time - when the divorce proceedings have begun, and they are depending on their prenup to hold up in court.
This article examines the most common factors that cause prenups to be invalid. If you have questions about your personal prenup, an experienced family law attorney is the best person to give you advice.
Lack of Financial Transparency
Should I Return the Engagement Ring or Other Gifts if We Get Divorced?
Engagement - and the sparkling, expensive piece of jewelry that typically accompanies it - is the subject of many romantic movies and books. The internet is replete with articles detailing exactly how much a man can expect to spend on an engagement ring, and in a new marriage, a ring is often a couple’s most valuable asset.
Unfortunately, not all relationships end up as happy and hopeful as the moment of engagement. When an engaged couple breaks off the engagement or a married couple decides to get divorced, there are often questions about what happens to the engagement ring or other gifts couples have purchased for each other that might be considered marital property.
What Happens to the Engagement Ring if We Do Not Get Married?
The fate of an engagement ring depends on who broke off the engagement, but generally, it must be returned. Illinois law has determined that if the recipient of the ring breaks off the engagement, she must return the ring. Likewise, if a couple mutually ends the relationship, the ring must be returned.
Common Ways Spouses Hide Assets in Illinois Divorces
Divorce ends a relationship between two people, but it also requires them to separate their finances. Often, resolving the latter issue is far more complicated than resolving the former. A couple who has been married for many years and who shares high net worth assets often has a complex financial picture and extensively intertwined finances.
Unfortunately, the process of asset division only becomes more complicated when one spouse attempts to hide assets or other financial resources from the other spouse. If you believe that your spouse is being dishonest about their finances, contact an experienced Illinois divorce attorney right away.
Why Do Spouses Try to Hide Assets?
Spouses often try to diminish the appearance of their overall financial picture in order to reduce their portion of the divorce settlement and increase their financial resources after the divorce. Other reasons spouses may dissemble about their finances include trying to favorably manipulate their share of child support or spousal maintenance or attempting to hide unrelated financial problems that may be revealed during divorce proceedings.
Five Facts About Military Deployment and Parenting Time in Illinois
Divorced American military families face unique challenges when navigating issues regarding parenting responsibilities and parenting time. Arranging for the care of a child during deployment, ensuring the child can visit with extended family during deployment, and catching up on lost time when the parent returns are all things military parents in Illinois must manage.
Fortunately, Illinois law recognizes these challenges and allows for special accommodations. Here are five facts about military deployment and parenting time in Illinois.
Facts for Deployed Military Parents in Illinois
Military parents can request that courts allow for make-up parenting time before or after deployment. This must be in the best interests of the child, and the parents’ schedules and circumstances must allow for it. The court order will specify who must fulfill certain responsibilities. For example, if divorced parents live in different states, they will have to decide who is responsible for paying to transport the child from one state to the other.
Can I Collect My Ex-Spouse’s Social Security Benefits?
Too many people getting a divorce in Illinois fail to consider how Social Security benefits are handled until after the divorce is over. Because Social Security law is complex and not subject to division as part of the asset division process, it is easy to overlook.
However, many people are entitled to Social Security benefits according to their former spouse’s work history. If you are getting divorced, you will likely want to understand how federal law provides for situations in which divorcees can obtain Social Security benefits so you do not miss out on money to which you are entitled.
When Can a Divorcee Qualify for Spousal Social Security Benefits?
Because spousal benefits are not automatically given to former spouses, you must apply to receive benefits through the Social Security Administration. No matter which state you live in, Social Security benefits are decided according to federal law. The federal government considers several factors when determining benefit eligibility for divorcees:
How Long Does Spousal Support Last in Illinois?
Spousal support is often a contentious issue in an Illinois divorce, but it is of crucial importance to the receiving spouse. Often, one spouse will have sacrificed their career options for many years in order to do the majority of the child care and housekeeping. Even if there are no children involved, the income disparity between spouses can be so extreme that the quality of life a couple has built together is entirely compromised by the divorce. In cases like this, judges are likely to award spousal support payments (previously called “alimony”) to one spouse.
Which Factors Determine Whether Someone Must Pay Spousal Support?
Illinois courts consider many factors when making decisions regarding spousal support payments. The goal is never to punish one spouse and reward the other, but rather to attempt an equitable arrangement at the end of a marriage. The court may consider, but is not limited to, the following factors:
Will a Stay-At-Home Parent Get More Parenting Time in Illinois?
A divorce can be a very difficult experience for a stay-at-home parent. If you dedicate the majority of your time to caring for your children and the family home, the end of your marriage can upend your entire life. Many stay-at-home parents are understandably concerned about the financial implications of divorce, like their ability to provide for themselves and their children on their own. However, parenting time can also be a major concern, especially when you are used to seeing your children all the time.
Parenting Time Agreements for Stay-At-Home Parents
There are many reasons why a person may choose to be a stay-at-home parent, but chances are, you and your spouse had some sort of agreement during your marriage that it was best for the family for one of you to stay home. Perhaps this was because one parent was better equipped to provide for the children’s regular care, or because the other parent needed to work outside of the home to provide financially for the family. When you are getting the divorce, these reasons may still hold true, and you and your spouse may be able to negotiate a parenting time schedule in which the stay-at-home parent maintains a greater share of parenting time.
Why Do Some Marriages Fail in the First Few Years?
When a couple gets married, they make what is supposed to be a lifelong commitment to each other. Unfortunately, things do not always turn out that way, and many marriages last for much shorter timespans. In fact, recent statistics from the Centers for Disease Control and Prevention’s National Survey of Family Growth show that more than 20 percent of first marriages result in divorce or separation before reaching the five-year mark. Marriages can fail in the early years for a number of reasons, and you could find yourself facing the prospect of divorce much sooner than expected.
Contributing Factors in Early Divorces
It may be hard to imagine how a marriage would fail so soon after it begins, but the truth is that there are many serious issues that can come to the surface in the early years of married life. Some examples include:
- Financial conflicts - For many couples, marriage marks the beginning of sharing financial responsibilities and decision-making. If a couple has not discussed finances before getting married, they may find that they have incompatible priorities, or even that one spouse has been hiding financial troubles from the other.
How to Recognize Your Spouse’s Dissipation of Marital Assets
The division of marital assets in an Illinois divorce is a stressful process under any circumstances, and it can be made worse by a spouse who recklessly or intentionally wastes assets, or uses them for self-serving purposes before the divorce is finalized. The legal term for this behavior is “dissipation,” and there are remedies available to a spouse who has been wronged by it. However, it is important to understand what actually qualifies as dissipation to make sure you have grounds to file a claim against your spouse.
Uncovering Signs of Asset Dissipation
Before you can go about claiming dissipation, you need to be aware that it is happening. In some cases, a spouse’s wasting of marital assets may be open and obvious, especially if they are doing it out of spite or a desire to hurt the other spouse. However, it is more common for a spouse to try to hide their dissipation. You may be able to find signs of dissipation on your own by carefully reviewing your joint bank accounts, credit cards, and other financial documents. You can also enlist the services of a forensic accountant to find signs that you may have missed.
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