Courtney ∙ Clark Law, P.C.Courtney ∙ Clark Law, P.C.
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November 2017 Archives

Property division under protection of a prenuptial agreement

There are certain times in life when it is wise to put aside emotions and be objective. One such time is when considering the pros and cons of signing a prenuptial agreement. While nobody wants to spoil the romance of the wedding, the reality is that many marriages in Illinois end in divorce, and having an agreement that clearly defines property division in such an event might provide both parties with peace of mind.

The financial changes typically brought about by divorce

When a person in Illinois is thinking of ending a marriage, it might be wise to consider the financial consequences of such a step. A divorce is not only an emotionally draining process, but it could also tap one's funds. The first matter of concern for many is the family home for which a mortgage was likely obtained on the strength of both incomes, and utilities and maintenance costs are generally also shared. Even if the court awards the house to one spouse, affordability must be considered.

What to do with the family home in property division negotiations

A divorcing couple in Illinois that decides to negotiate their divorce settlement out of court can save time and money. Even so, certain aspects of the property division process can be challenging. One of those may be deciding who will keep the family residence -- and whether maintaining it will be a wise choice.

Divorce may be the only option in any of these circumstances

The Centers for Disease Control and Prevention say more than 20 percent of marriages in Illinois and elsewhere experience some sort of disruption within the initial five years after the wedding date. Relationship advisers say it is not the causes of the disruptions that lead to divorce but the manner in which couples deal with the problems. The also say that some reasons for divorces are cited more frequently than others.

Financial planning in divorce planning is unique to each person

People search for all types of advice on the internet. Any Illinois resident who is in the throes of a divorce has likely resorted to Google for advice and found that most sources are generic and typically focus on women and the financial planning they need to do. However, financial planning in a divorce is for all, not only women, and the circumstances of each are unique. For most people, the first area to look at is a post-divorce budget.

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Courtney ∙ Clark Law, P.C.
104 South Charles Street
Belleville, IL 62220

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