If you're contemplating divorce, you need to be prepared.
Married couples without children considering getting a divorce might not know where to start. But it’s important to understand the legal or financial challenges many adults without kids encounter when they divorce.
That’s why Psychology Today recently put together a list of some of the most common legal issues couples without children encounter when filing for divorce. And in many cases, the most common – and most important – issues that come up between couples involve financial matters.
Below, you can learn more about the three biggest legal issues married couples often need to deal with when divorcing.
One of the most complicated legal and financial issues married couples without children need to deal with when divorcing is deciding what to do with any property owned by them. Whether it’s a house, condominium, vacation home, or another type of property, what happens to the property after the divorce can be a source of many legal challenges.
Many couples choose to sell the property and divide the assets. Other times, one spouse might want to keep the house and pay the other one their share of the proceeds if the house had been sold. Such payments can be made in the form of other shared assets, including retirement savings or in the form of future, anticipated earnings.
Whether the property was purchased jointly by the couple after being married or purchased solely by one of the spouses before the marriage can also impact what happens to the property after the divorce. The best way to know for sure is to talk to a divorce lawyer familiar with the divorce laws in your state.
Division Of Assets
Along with property-related issues, what happens to other financial assets owned jointly or individually by a spouse is also often a very important decision that needs to be carefully considered by each spouse. Such assets can cover a wide range, including retirement account savings; vacation timeshares; cars or other vehicles; boats; jewelry, and valuable art or antiquities.
In many situations, one spouse makes more money than the other spouse. When this happens, the spouse making more money sometimes pays the other spouse a set amount of money, usually for a defined period of time. Such spousal support payments are often called alimony.
Another Factor – Type Of Divorce
Another factor that can influence a couple’s divorce is what type of divorce they choose to end their marriage. Every state has different divorce options. In Illinois, the three main choices are:
- Uncontested divorce – A divorce in which both spouses agree on important issues involving the divorce, including the division of assets. Uncontested divorces can often be resolved and finalized quickly in court.
- Contested divorce – A divorce in which both spouses disagree on important legal issues. A contested divorce often involves going to court and can turn into a very complicated, combative legal process.
- Divorce mediation – Many times, couples decide to end their marriage through a legal process known as divorce mediation. Instead of going to court, each couple hires a lawyer and a third lawyer is hired to serve as a mediator.
Talk to an experienced divorce attorney in Illinois today
At Courtney Clark Law P.C., our divorce lawyers can help you every step of the way. We know how the legal system works in Illinois. We’re familiar with the state’s regulations governing divorce. As your lawyer, we can work with you to develop the best possible strategy for addressing all your legal and financial concerns.
Contact our law firm and schedule an appointment with an Illinois divorce lawyer you can trust. We’re here to help you move forward with your life.