Divorce Lawyer Chicago, IL
Our Chicago, IL divorce lawyer knows that if you’ve either decided that you’d like to file for divorce or you’re thinking that you might need to file for divorce if your marital circumstances don’t improve soon, you may be wondering if there is an optimal time to file your official divorce petition. Every Illinois divorce case is different, so there is no single “best” time to file for divorce, generally speaking. With that said, your unique circumstances will help you determine when the “best” time may be for you to file.
It’s important not to make too many assumptions about timing your divorce until you’ve spoken with an experienced divorce lawyer Chicago, IL residents trust. Because every marital situation is different, the best approach for someone else might not be the best approach for you. Once you speak with an experienced Chicago, IL divorce lawyer, you’ll be better placed to make an informed decision that will serve your best interests.
Timing Your Divorce – Considerations
When thinking about the best time to file for divorce, you’ll primarily need to think about three categories of challenges.
- Property – It’s important to secure a fair divorce settlement so that you can transition into your newly single life as financially stable and secure as you can be. Timing your divorce in a certain way may affect your property interests. For example, if you and your spouse are going to sell your primary residence and split the proceeds in your divorce settlement, you may want to ensure that you don’t file for divorce at a time when the real estate market is tanking.
- People – Is anyone else in your life going to be particularly affected by the timing of your divorce? For example, do you have minor children who would benefit from finishing their academic year before undergoing a major life transition?
- Practical Concerns – There are seemingly endless, physical, emotional, and practical concerns that need to be addressed during the divorce process. Will either waiting or speeding things up help or hurt you in any specific way? Only you can evaluate what is best for you, but our firm can help to guide you as you weigh your options.
Speak With Our Chicago, IL Divorce Lawyer Today!
Our divorce lawyer Chicago, IL can recommend understands that when it comes to divorce, there are many misconceptions or points of confusion. When you and your spouse have gotten to the point where you believe divorce is the option, you may also be interested in learning more about legal separation and how legal separation differs from divorce. When it comes to both divorce and legal separation, you will still be dealing with some of the same issues, including things like alimony, how you wish to divide your property, and what the child visitation or custody looks like. When you go through this, it is best to have the help of your Chicago, Illinois divorce lawyer on your side so that we can ensure this process goes as smoothly as possible. To speak with our team, please give our office a call.
Legal separation and divorce sound similar. Are they the same thing?
While they may sound very similar, divorce and legal separation are not the same things. If you are going through a divorce, you are legally dissolving your bond of marriage. If you are legally separating, however, you are still married to your spouse. In many cases (and states), you are required to legally separate for a certain period of time before you can get divorced.
Why choose divorce over separation?
Many people ask our Chicago, IL divorce lawyer why they should choose divorce over legal separation. One of the top reasons we give our clients is this: for clients who believe there is no chance at fixing their marriage or do not wish to fix their marriage, divorce is going to be the best option. Although it is always possible to work things out during a divorce, it is not likely. For those who need space to think things through, a legal separation may be your best answer.
Are there financial ramifications?
Yes. When a couple gets divorced, our Chicago divorce lawyer knows that one half of the couple will likely be paying alimony or child support (if you have children). If you are only separated but not divorced, your spouse is still able to collect certain financial benefits, like your health plan, a joint tax return, and even social security. When you have financial questions regarding your divorce, it is best to speak with a divorce lawyer in Chicago, Illinois.
Legal Assistance Is Available
“Timing” your divorce to serve your best interests is dependent on your family’s unique circumstances. Once the experienced Chicago, IL divorce lawyer team at Hurst, Robin & Kay, LLC learns more about your situation, we’ll be able to provide you with personalized support and guidance regarding the timing of your formal divorce petition. Divorce isn’t usually a straightforward process. As a result, it’s important to have an experienced Chicago, Illinois divorce lawyer by your side as you navigate the twists and turns that usually accompany the process of officially ending a marriage. Our firm is honored to represent our clients with compassion and dedication as they weather this particular major life transition. Please schedule a consultation today to learn more about how we can help you achieve a successful settlement whenever you choose to formally file for divorce. Our divorce lawyer in Chicago, IL looks forward to speaking with you.
Commingled Marital Assets
One of the most complex parts of divorce is property and asset division. This can become even more complex when the couple has mixed both marital and non-marital assets and property. Illinois is an equitable distribution state, which means that when a couple divorces, their assets are divided in a fair and equitable way. This is different than community property states, where assets and property are divided 50/50. It can get confusing if assets have been commingled. If you are going through a divorce and have a complex property division situation, contact Hurst, Robin & Kay, LLC to speak with a divorce lawyer Chicago, IL clients trust.
The legal definition of commingling is when there has been the mixing of funds that belong to one spouse with the funds that belong to another spouse. Marital property is defined as any property that was acquired by either spouse during the marriage. Non-marital property is a property that either spouse owned before the couple was married. Non-marital property is also any inheritance or gift that one spouse received either before or during the marriage.
For example, let’s say one of the spouses obtained financing to purchase a vehicle before the couple wed. Then, during the marriage, both of the couple’s paychecks were deposited into a joint checking account and the vehicle payment was made from that joint checking account each month. By doing this, the non-marital property becomes marital property and if that couple divorces, the vehicle would then become part of the marital estate.
When assets become commingled, it can cause an issue in that equitable asset division, especially since the law in Illinois mandates that each of the spouses keep all of their non-marital assets. But if the non-marital property cannot be identified, then it could end up as part of the marital estate. In order to avoid this issue, there is a legal procedure that the Illinois courts have set up, referred to as tracing. This is where the value of the asset or property is traced back to its origination. This can be a very complex process, requiring records, documentation, and investigation. This is why it is recommended for anyone going through a divorce with this type of complex asset and property division work with a Chicago, IL divorce lawyer.
Contact a Skilled Divorce Law Firm
Even the easiest divorce can be difficult. Divorces with complex issues that need to be worked out can be even more so and require the legal expertise of a Chicago, IL divorce lawyer. Call Hurst, Robin & Kay, LLC to schedule a free and confidential consultation with a member of our legal team and find out how we can help get you the marital assets – as well other marital and divorce issues – that you may be entitled to.