Tag Archives: divorce mediation

How Can I Protect Myself from Unwanted Marital Debt During Divorce?

Wheaton property division attorneyDuring your divorce, you and your spouse will need to address the ownership of all the property and assets you own together, and this will also include dividing marital debts. As long as debt was incurred during the marriage, it is the responsibility of each spouse, and it must be divided equitably and fairly between the spouses.

What Types of Debts Are Considered Marital Debt?

In general, any debt incurred by either spouse during a marriage is considered to be marital debt. Such marital debt may include:

  • Credit cards

  • Loans

  • Mortgages

One thing to note is that your lawyer might be able to make a convincing case that some debts which appear to be marital debts should not actually be your obligation, because they were taken on for the sole benefit of the other spouse. For example, if your ex-spouse made large credit card purchases while pursuing an extramarital affair, he or she may be solely responsible for these debts.

Precautions to Take Against Post-Divorce Debt Issues

One of the most important things to know about post-divorce debt is that lenders do not usually view marital debt any differently from a debt you took on for yourself. In fact, most lenders do not even recognize divorce agreements. The original loan agreement is all that matters to them. Someone will need to pay the debt, and both of you will be held responsible for paying it off, especially if you two signed for it together. To avoid being pursued by creditors for debts that should be your spouse’s responsibility, you can take some precautions, such as:

  • Pay off as much of your marital debt as possible before the divorce. This will make the divorce process much less difficult, and it will be a relief for both of you to have those debts resolved.

  • Once you decide to get a divorce, close all your joint accounts to prevent either of you from running up charges.

  • Stay vigilant about tracking your accounts and your credit report even after the divorce. You need to make sure that the debts are being paid, especially the ones for which you are both responsible.

  • If it is decided that only one of you will be responsible for a debt that was originally in both spouses’ names, this debt should be refinanced only in the name of the spouse who will be responsible for the debt. This will ensure that the lender will not pursue the other spouse for the debt if the responsible spouse becomes delinquent.

  • If you are concerned that your spouse will not pay debts as required in the divorce agreement, consider including an indemnity clause that will enable you to take your ex-spouse to court for any unpaid debts.

Contact a DuPage County Debt Division Attorney

Just as property division can be a complicated topic in Illinois divorces, so is debt division. With a knowledgeable Wheaton divorce lawyer on your side, you can negotiate a settlement that will allow you to maintain financial stability following the conclusion of your divorce case. Reach out to the Andrew Cores Family Law Group today at 630-871-1002 to schedule a free consultation and learn how we can help you address marital debts and other legal issues during your divorce.

Sources:

https://www.thebalance.com/debt-and-divorce-315507

https://www.fool.com/retirement/2017/11/16/you-could-get-stuck-with-your-spouses-debt-in-divo.aspx

https://www.huffpost.com/entry/marital-debt_n_4861960

What Mistakes Should I Avoid in an Illinois Divorce?

Wheaton, IL divorce attorneyIf you are facing a divorce, you are likely to be plagued with feelings of doubt and uncertainty. While there is no “correct” way to go about the process of ending your marriage, you will want to be sure to address the various legal issues between you and your spouse in a responsible manner. The many decisions that must be made about matters such as the division of assets, marital debt, spousal support, and parental responsibilities could lead to you feel overwhelmed. Although you may be eager to resolve these matters and get the divorce process over with, it is strongly advised to carefully think out every action you take. If certain issues are handled improperly, you may face serious financial repercussions, and your relationship with your children could be negatively affected. During your divorce, it is important to avoid these mistakes:

Being Dishonest

Attempting to hide marital assets, providing your spouse with false financial information, or withholding knowledge from your ex, their lawyer, or the court could result in serious consequences. You may be penalized if you are found to be hiding money or other property, and if it is discovered that you are lying, a judge may consider this behavior when making decisions about property division or child custody. Ultimately, it is best to be as open and honest as possible during the divorce process.

Letting Your Emotions Control You

The dissolution of your marriage is the end of your partnership with your ex. The thought of moving forward into single life can be stressful and overwhelming, especially if you will also be spending less time with your children. Because of these changes, you may struggle with sadness, anger, depression, guilt, and a variety of other emotions. However, it is best to approach your divorce with a professional mindset. Putting emotions aside when addressing the legal and practical concerns of ending your marriage will help you make sure you can start your post-divorce life off on the right foot.

Not Focusing on Your Children

As you concentrate on the multitude of issues that must be addressed during your divorce, you should make sure that you are taking the time to meet your children’s needs. They are also likely to be overwhelmed with the changes that are occurring in their lives, and they are probably uncertain about where they will live and how their relationship with both parents will be affected. Explaining the situation to them in an age-appropriate manner, addressing their concerns, and emphasizing that you love them and will always be there for them can help make the divorce process easier for them and prepare your family for success once your divorce is complete.

Refusing to Compromise

Just like marriage, the key to achieving an amicable divorce is being able to reach agreements with your spouse. Working together throughout the divorce process and agreeing to compromise and find mutually agreeable solutions can make the situation much easier to manage. Mediation and collaborative law are different forms of dispute resolution that can help you and your spouse reach a middle ground.

Contact a DuPage County Family Law Attorney

A divorce can be a complex process that may take a significant amount of time to conclude. To ensure that your rights and best interests are protected throughout the legal process, it is crucial to work with an experienced attorney. At the Andrew Cores Family Law Group, we can provide you with dedicated representation throughout the divorce process, and we will work with you to reach a positive resolution to your case. To schedule a free consultation with one of our knowledgeable Wheaton divorce lawyers, contact our office at 630-871-1002.

 

Source:

https://www.huffpost.com/entry/common-divorce-mistakes_b_6057888

 

Why is Divorce Mediation Gaining Popularity?

DuPage County Divorce Mediation LawyersDivorce mediation is quickly gaining popularity and is replacing divorce litigation as the “go-to” method of divorce for many couples. Why? No one wants to spend more time with their soon-to-be-ex-spouse than necessary, right?

Increasingly, that is not the case. Mediation allows divorcing couples to work together to create solutions that work best for their unique circumstances. The decisions are more personalized than those produced by a judge. Mediation also prepares couples for the collaboration needed for successful co-parenting.

Let us take a look at some of the leading benefits of choosing divorce mediation:

You are in Control

When you choose mediation, you and your ex maintain all control of the outcome. Together you decide what is most important and you can create arrangements the way you see fit. A judge is bound to the parameters of the law and does not have time to get to know you on an intimate level to fully comprehend the inner-workings of your family situation. Only you and your spouse grasp that critical information. With mediation, you can create a parenting plan, spousal maintenance agreement, and marital property division arrangement that makes sense.

Save Time and Money

The formal divorce litigation process is lengthy and can be drawn out for years. By choosing divorce mediation, you reach a divorce agreement on your time, when all parties are available and ready to discuss all relevant matters. Overall, couples who choose mediation experience a shorter and less expensive divorce.

Confidentiality

Through mediation, you avoid entering the courtroom, where everything that occurs is a matter of public record. The reporter at the front of the room documents everything that transpires throughout the session, which then becomes available for anyone to find. During mediation, any notes taken by the mediator remain private; therefore, if someone were to pry into your court information, the discussions within the room will be unavailable.

Communication Skills

The divorce mediation process allows divorcing couples to discuss the details of their relationship in neutral territory with a third-party representative. Often, many of the topics addressed during divorce were avoided during the marriage, which creates tension and animosity. Mediation builds communication skills by negotiating the desired outcome, and also sets an excellent example for the children of how two adults can communicate even if they have opposing views.

Ask a Wheaton, IL Divorce Attorney

For a less expensive and smoother divorce, contact an experienced DuPage County divorce mediation lawyer to help guide you through the process. Protect yourself and your interests by contacting Andrew Cores Family Law Group today. We offer a free consultation to those who call us at 630-871-1002.

Sources:
https://www.liveabout.com/what-is-divorce-mediation-and-how-does-it-work-1103259