Matters of property division can quickly bog down the divorce process, with both individuals fighting to secure as many assets as possible.
Like many people going through a divorce, you may find yourself buried in credit card debt. It's important to remember that you have to divide debt, just the same as you do any assets you co-own with your spouse.
There is a lot to worry about when moving through the divorce process, as you realize that your life is changing in many ways. For example, matters of property division will always be at the front of your mind. You know that the right approach could be the difference between receiving what you deserve and missing out in more ways than one.
While there may still be some stigma attached to prenuptial agreements, the truth is that many people use them, and with good reason. Entering into a marriage involves many complex financial decisions and presents a range of possibilities for the future use of funds and assets. Particularly if one or both spouses have been married previously, the new family situation may be quite complicated and involve former spouses, children from earlier marriages and other considerations. A prenup may be a good way to navigate these issues and plan for the future.
If youâ€TMre considering a divorce, itâ€TMs important to understand your stateâ€TMs laws related to this process. Like most states, Illinois has somewhat complex divorce laws.