Category Archives: Division of Property

Kane County divorce attorneysWhen you are going through a divorce, it is imperative for you and your spouse to be completely forthcoming about your respective financial situations. Without full transparency, it is impossible for you and your spouse—or the court, when necessary—to properly divide the marital estate in accordance with Illinois law. In many cases, unfortunately, one spouse will look to manipulate the division of assets by hiding property and income streams to avoid having to share them with his or her partner. While it is often possible to address such behavior before the divorce proceedings are finalized, hidden assets may go undiscovered until after the divorce judgment has been entered. If you recently discovered that your former spouse was hiding assets during your divorce, it is not too late to take action.

Reopening Your Divorce

The first thing you should do if you have reason to believe that your ex-spouse hid assets during your divorce is to contact an experienced attorney. Your lawyer will work with you in filing a request for relief from the divorce judgment. Reopening your case is often easier if you file your motion within 30 days of the judgment being entered, but there is no statutory timeframe that limits your rights.

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Divorce is a complicated process, with many important decisions to be made. One of the most convoluted parts of divorce is property division. For many families, pets are more than just property; they are members of the family. However, in the eyes of Illinois law, they are treated simply as property.

According to the American Academy of Matrimonial Lawyers, pet custody cases are on the rise in the United States. Surveys say that more than 60 percent of American homes have pets. Pet ownership and maintenance is a rising field of business, as displayed with the increase in insurance for animals, fancy salons, and even pet attire. When breakups and divorce occurs, the destiny of pets can turn into a real dogfight.

pet custody in divorce IMAGEIllinois Property Division

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Rigs  Kane County family law attorneyFamily law attorneys work hard to be advocates for their clients. Their true value lies not only in their legal expertise and experience, but also in their ability to think clearly in an emotionally charged situation, when clear thinking is crucial. Even in uncontested divorces, it is important to have a Kane County family law attorney who can identify and resolve complex issues. In cases where there is joint ownership of tangible assets, divorce attorneys can ensure proper division of those assets and execution of the required legal forms. For example, if a couple owns a home jointly and the home still has a mortgage on it, they may agree that one spouse will take over ownership and make mortgage payments. If this is not done correctly, however, it is a formula for disaster. Even though now one party has legal title, both parties are still on the hook for the mortgage; banks do not care that there was a divorce, and they will not agree to remove spouses from mortgages just because they no longer live in or own the property. In these cases, an experienced divorce attorney will ensure that any property division contains a clause that requires the spouse who takes over the property to refinance it under only one name. Otherwise, one may be on the hook for a property in which they no longer live. If it sounds like speculation, it is not. Divorce law is full of cases where one party took possession of the home, but could not keep up with the payments or secure financing, causing the bank to foreclose on the home. In these cases, both parties would be part of the foreclosure proceedings, meaning that both credit scores would suffer and both parties would be responsible for any deficiency judgments. Parties can avoid these issues with proper legal representation. We cannot foresee everything, but an experienced Kane County family law attorney can go a long way towards planning for them.
Goostree Law Group

Goostree Law Group

 555 S. Randall Road, Suite 200
St. Charles, IL 60174

 630-584-4800

 400 S. County Farm Road, Suite 300
Wheaton, IL 60187

 630-407-1777

Our Illinois divorce attorneys represent clients in Kane County, DuPage County, Kendall County and DeKalb County, including Geneva, Batavia, St.Charles, Wayne, Wasco, Elburn, Virgil, Lily Lake, Aurora, North Aurora, Elgin, South Elgin, Bartlett, Crystal Lake, Gilberts, Millcreek, Maple Park, Kaneville, LaFox, Yorkville, Oswego, Plano, Sugar Grove, Big Rock, Bristol, Newark, DeKalb, Sycamore, Naperville, Wheaton, West Chicago, Winfield, Warrenville, Downers Grove, Lombard, Oak Brook, Streamwood, Hoffman Estates, Barrington, South Barrington, Lake Barrington, Schaumburg, Big Grove, Boulder Hill, Bristol, Joliet, Kendall, Lisbon, Minooka, Montgomery, Plainfield, Sandwich, Yorkville and many other cities.

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