Chicago Illinois Family Law Blog

Divorce and Real Estate: Selling or Dividing Property

By Nottage and Ward on April 25, 2024

In divorce, property division hinges on state laws. Equitable distribution mandates fair, not necessarily equal, allocation of assets acquired during marriage. It considers various factors like contributions, earning capacities, and duration of marriage. Conversely, community property states like California split assets evenly. Illinois follows equitable distribution principles, prioritizing fairness over strict division.

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Posted in: Property Division

Who Keeps the Low House Mortgage Rate After a Divorce?

By Nottage and Ward on March 20, 2024

A divorce involves the complex process of dividing assets, including the value of the family home. A home with a more favorable economic climate and a low mortgage rate raises essential questions about the best way to divide this asset for both parties.

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Posted in: Property Division

Pre-Divorce: Navigating Your Emotions During Separation

By Nottage and Ward on February 14, 2024

The healing that takes place after separating from your spouse is a non-linear process that involves both progress and setbacks. Emotions during this time can be unpredictable and may fluctuate from day to day or even from moment to moment. Embrace the ups and downs as natural parts of the journey, and be patient and compassionate with yourself as you navigate through them.

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Posted in: Separation

Valuing and Dividing Collectibles and Art in Divorce

By Nottage and Ward on January 20, 2024

Art and collectibles hold immense value, not just for their aesthetic appeal but for their ability to evoke emotions and tell unique stories. Incorporating art or collectibles into a home adds character and a personalized touch, transforming living spaces into reflections of individual tastes, experiences, and cultural influences. These unique items can elevate the ambiance of a home, making it more inviting and resonant with the identity of its inhabitants. During property division in a divorce, artworks and collectibles frequently become focal points, sparking disputes during the division of assets. The intricate nature of these assets poses unique challenges in valuation and equitable distribution.

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Posted in: Property Division

The Role of Post-Nuptial Agreements in Blended Families

By Nottage and Ward on December 24, 2023

In the complex dynamics involved in blended families, addressing the legal considerations is crucial in ensuring a harmonious and secure future for family members. One powerful tool that can aid in this process is a post-nuptial agreement.

Post-nuptial agreements serve as indispensable tools in addressing the nuanced challenges of blended families. By providing clarity, security, and a legal framework for potential conflicts, these agreements contribute to the long-term stability and well-being of all family members involved.

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Divorce and Drug Addiction: Legal and Emotional Challenges

By Nottage and Ward on November 30, 2023

Even under the best circumstances, divorce is a painful and difficult process. If your spouse suffers from drug addiction, things become a lot more complicated. The instability that results from drug addiction may threaten the safety and well-being of you and your children. Drug addiction frequently causes financial issues, and this may be an issue when making decisions about asset division and spousal support.

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Posted in: Divorce

Divorce and Retirement Accounts: Splitting Assets Fairly

By Nottage and Ward on October 15, 2023

Illinois is an equitable property division state. When a marriage terminates in divorce, all marital assets are subject to equitable distribution – meaning they are distributed fairly but not necessarily equally. All property and assets acquired by either spouse during the marriage are considered marital property, including retirement accounts. Dividing 401(k)s, IRAs, or other retirement accounts fairly can be a complicated and emotional process.

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Posted in: Divorce

Divorce and Student Loans: How Debt Is Handled in a Divorce

By Nottage and Ward on September 15, 2023

More than half of students who attend four-year college leave school with student debt, and the total amount of student debt continues to grow. Along with home and auto loans, student loans are among the largest types of debt that most people will take on during their lives.

Americans now owe over $1.75 trillion in student debt. According to Forbes Magazine, students in Illinois with student debt owe an average of $ 37,223.

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Posted in: Divorce

Divorce Mediation and Litigation: Which Do You Need?

By Nottage and Ward on August 20, 2023

If you recently decided to dissolve your marriage, you are likely aware that you have more than one option available. Depending on the specifics of your case, mediation or litigation may be more appropriate for you.

Mediation is a more collaborative approach to divorce that allows both parties to maintain more control over the terms of their divorce. It is designed for spouses who are willing to work with one another. If you and your spouse are unable or unwilling to cooperate, litigation is likely the only option.

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Posted in: Divorce

The Psychological Effects Divorce Can Have on Children

By Nottage and Ward on July 20, 2023

Divorce can have profound psychological effects on children. The extent of those effects may differ from one child to the next. However, there are specific measures parents can take to minimize the psychological impact of divorce on their children.

In the United States and other Western countries, the divorce rate has steadily increased since the 1960s. According to a paper from the National Library of Medicine, approximately 60% of children live in a household where their biological parents are married.

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Posted in: Divorce

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