Tag Archives: division of property

How Veterans Benefits Are Treated During DivorceSettling a divorce involving a veteran of the U.S. military can be more complicated than with a typical divorce. Federal and state laws determine how veterans benefits may be divided during the divorce. With the varying types of benefits a veteran can receive, divorcing spouses may have difficulty differentiating between them. Some benefits are treated as marital property, while others are exempt from division. The duration of both the marriage and the veteran spouse’s service can also affect how the benefits are treated. Here is a breakdown of different types of veterans benefits and how they relate to divorce.

Medical Benefits

Spouses and dependents are eligible for coverage under a military veteran’s health care plan, such as TRICARE. When a spouse divorces a veteran, the spouse can remain on the health plan indefinitely, as long as:

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Challenges for Business Executives During DivorceMost successful business executives are highly driven professionals who are dedicated to their work. Those qualities do not always transfer to their marriages. Their focus on their jobs can cause them to pay less attention to their home lives. Their spouses may seek divorce if they do not feel there is enough intimacy and communication in the marriage. If the business executive was not paying much attention to the marriage, he or she needs to focus more on the divorce. High asset divorce involves many complex properties that must be divided between the spouses. The business executive spouse may be familiar with negotiating deals involving valuable assets, but he or she cannot take the same approach during a divorce.

Complex Marital Properties

Most marriages involve valuable assets that must be divided, such as real estate and financial accounts. For business executives, these high-value assets can be more diverse and complicated, such as:

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How Domestic Violence Affects Divorce SettlementsDomestic violence between spouses can lead to or result from divorce. A person may choose to end his or her marriage because his or her spouse is abusive. In other cases, asking for a divorce may trigger a spouse’s threatening behavior. Either way, domestic violence changes how a divorce is settled. The divorce court will likely favor the victim in matters of allocation of parental responsibilities and division of property.

Order of Protection

With any case of domestic violence, the victim’s first responsibility is to protect him or herself, as well as other victims. A victim spouse should immediately seek an order of protection against the abusive spouse. The order includes several benefits for the victim spouse, such as:

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What to Consider When Making a Premarital AgreementCreating a premarital agreement is negotiating aspects of your divorce before you get married. If you have been through a divorce before, you remember how complex those negotiations were. If this is your first marriage, the process may seem overwhelming and intimidating. When thinking about your premarital agreement, it helps to remember its purpose. You and your future spouse are determining how your properties would be divided in a theoretical divorce without the animosity of the divorce clouding your judgment. When making a premarital agreement, you should anticipate financial decisions that would need to be made during a divorce.

Premarital Properties

If you divorce, your properties would be classified as either marital or nonmarital. Your marital properties would be divided equitably between the two of you, while you would keep all of your nonmarital property. Distinguishing between marital and nonmarital property becomes more difficult when spouses have been married for several years. The clearest distinction is which properties were purchased before the marriage. Your premarital agreement can identify and protect your nonmarital assets, such as:

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Cohabitation Does Not Entitle Couple to Share of PropertySociety has become more accepting of couples who cohabitate without marriage, but laws do not yet treat them equally. Some states, including Illinois, prohibit common law marriages, in which couples act and present themselves as married but never obtain a legal union. While this may limit a couple’s rights when they are together, it also affects them when their relationship ends. Illinois laws state that couples who dissolve their marriages or civil unions are entitled to an equitable division of their shared properties. Because Illinois does not recognize common law marriages, cohabitating couples do not have the same property rights unless they created their own separation agreement.

Legal Precedent

Illinois’ Supreme Court has twice decided that cohabitating couples are not required to equitably divide their properties after their relationships end:

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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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