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Oak Forest divorce lawyer for dividing marital propertyDivorce affects your entire life, from your living situation and daily routine to your finances. Under normal circumstances, finances can be a headache, and in the case of a divorce, they can be even more frustrating. Your assets and finances are a big part of your divorce settlement, and because of that, you will probably have a few questions. Who should take the house? Who gets the antique dining table in your home? How will you divide your retirement funds? These questions can be daunting, but they do not have to be impossible to resolve. With a little research and advice from a knowledgeable divorce lawyer, you can make the best decisions for your family.

The Family Home

During divorce, the easiest thing to do is to sell your house if you or your spouse do not have a particular attachment to it. By selling your house, you can your spouse can split the profits and carry on with your lives if you have equity in your home. If one spouse wants to keep the home, you will have to figure out if you can afford to keep it, and the home will need to be refinanced to remove the other spouse from the mortgage. Either way, you should get a proper valuation of your home so you know what you are dealing with.

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Palos Heights divorce lawyerDivorce is not uncommon; depending on which reference you are using, the divorce rate in the United States is reported to be anywhere between 40 and 50 percent. With that number in mind, you would think that more people would understand the ins and the outs of divorce, but many topics still seem to be misunderstood by most people. Here are three widely accepted “facts” of divorce and the truths behind them:

1. If One Spouse Is at Fault for the Divorce, They Will Be Penalized

The Illinois Marriage and Dissolution of Marriage Act (IMDMA) only recognizes “irreconcilable differences” as the grounds, or reason, for divorce. No-fault divorce only requires a spouse who files for divorce to state that their marriage has irretrievably broken down, without requiring them to provide a reason. The IMDMA states that decisions about property division and spousal support cannot be made with regard to any sort of marital misconduct. So in short, unless a spouse is dissipating marital property in an affair (such as by using marital funds to buy gifts for a paramour), adultery or other reasons one spouse is at fault will likely not affect the legal aspects of a divorce.

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