Illinois Divorce Lawyers Candace Meyers answers:
During divorce, a Statement of Net Worth outlines each party’s income, assets, expenses, and outstanding debts. Failure to disclose assets on this Statement could have serious consequences.
Handling finances when married is hard enough. Adding separation into the mix can make financial management even more difficult. Before you and your spouse begin splitting finances during separation, keep the following advice in mind.
Don’t leave money on the table during divorce! By understanding property division on divorce, and knowing what property can and cannot be included in the marital estate, you will have a better chance of getting your fair share.
After filing for divorce, expect several financial issues to come up during the divorce process and even afterward. These steps will help lead you towards a more secure financial future.
A real estate lawyer answers eight of the most common questions about real estate and divorce from couples going through this tough stage in their lives.
If property is titled only in the name of one spouse, then generally a court cannot order one spouse to transfer the property to the other spouse. However there are three exceptions, a court can transfer an interest in a pension, retirement account or other type of deferred compensation from one spouse to the other. […]
Marital property is any property that was acquired during the marriage. By acquired I mean paid for with marital funds. How something is titled doesn’t determine whether or not it is marital property. As long as it is paid for during the marriage with marital funds, it is marital property. So, for example if one […]
In a community property state, community property is presumed to be jointly owned and as a result it is divided equally during a divorce. Maryland is an equitable distribution state so title doesn’t determine whether property is marital or not. Also marital property does not have to be distributed equally, only fairly and equitably. The […]
Selling a property is not always easy – especially during a divorce. But at the end of the day, getting it done as quickly as possible and for a fair price means that you both can move and get on with your lives.