Property Division Considerations During Your Illinois Divorce

 Posted on September 22, 2020 in Division of Property

In an ideal world, getting a divorce would only affect you and your spouse. However, getting a divorce impacts everyone in your family, especially your children if you have any. Throughout your divorce, you will face many issues relating to your kids that must be settled, such as parenting time, allocation of decision-making responsibilities, and even child support. What you may not realize is that your children may also influence other areas of your divorce as well, such as property division. If you are going through a divorce, an Illinois divorce lawyer can help you determine your best scenario for asset and property division.

Considering Your Kids’ Feelings When Dividing Assets and Property

When you go through a divorce, you and your spouse are required to divide all marital property equitably among yourselves before you are able to finalize the divorce. While you may think that your children have nothing to do with those decisions, they may influence those decisions more than you think. Here are a few ways your children can influence your property division decisions:

• Pets: For many families, the pets are like another family member, rather than just a furry friend. Family pets can be a source of support, friendship, and love for your children during your divorce. You may want to consider allowing the parent who has the most parenting time to keep the pet or make sure the pet has visitation with your kids.

• Family Home: Like some adults, children can grow very emotionally attached to their family home. The home may be the only home that they have ever known or it may be essential for keeping them in the same school district. You may want to consider having one spouse keep the family home until the children are out of school or continue to co-own the home so the kids do not have to change schools.

• Vehicles: When you get a divorce, all of a sudden, transportation and logistics become much more important than they ever were before. Both you and your spouse will need reliable transportation to get yourselves from point A to point B and to facilitate parenting time exchanges. This means that you could either agree to a division agreement that allocates certain vehicles to each spouse, or you could opt for an agreement that offered money to purchase new vehicles.

Contact a Kane County Divorce Attorney

Divorce is complicated enough, but when you add children into the mix, a divorce can become downright disastrous without the right legal representation. At the Law Office of Matthew M. Williams, P.C., we know how important it is for parents to provide a stable and healthy environment for their children during the divorce. Our skilled Geneva property division lawyer is here to make sure that both you and your childrens’ best interests are the top priority during your divorce. To schedule a free consultation, call our office today at 630-409-8184.

Source:

https://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm