In Illinois, same-sex couples have the same legal rights as opposite-sex couples during a marriage or divorce. However, there are some unique legal considerations that same-sex couples should keep in mind when going through a divorce. Today, we are going to look into what some of those considerations are. If you are in a same-sex marriage and looking to get a divorce, consider contacting an experienced divorce lawyer who will ensure your rights remain protected and that you fully understand your legal options moving forward. 

Essential Property Division Considerations for Same-Sex Couples Getting Divorced

One of the main issues that may arise in a same-sex divorce surrounds the division of property. Illinois is an equitable distribution state, meaning the marital property is divided fairly but not equally. This includes any assets or debts acquired during the marriage, regardless of whose name is on the title or account. Furthermore, same-sex couples may have a more complex financial situation due to the lack of federal recognition of their marriage before Illinois state legalization of same-sex marriage in 2013, which then went into effect in the state in 2014, and the nationwide legalization of same-sex marriage in 2015. Since many same-sex couples were cohabiting long-before same-sex marriage became recognized at the state and federal levels, determining what marital property can come with its challenges. 

If a couple lived together and was in a serious relationship before their marriage was recognized by the state and federal government, assets and property obtained during this time will likely be considered non-marital assets. This can complicate the division of property process.

 Divorce can be a complicated and emotionally charged process, and property division is often one of the most contentious issues. In Illinois, inherited property is generally considered separate property and not subject to division in a divorce settlement. However, some exceptions to this rule can make things more complicated. Today, we are going to discuss everything you need to know regarding inherited property in Illinois divorce settlements. If you are getting a divorce, it is in your best interest to hire a skillful divorce attorney to help ensure your rights are protected, and a favorable case outcome can be pursued.

Important Considerations for Inherited Property in Illinois Divorce

As stated previously, when a person inherits property, cash, or similar assets, it is usually considered their separate property, which makes it exempt from division during divorce proceedings. However, in certain situations, inherited property may lose its status as separate property and become subject to division. 

One situation where inherited property may lose its status as separate is when it is commingled with marital property. For example, suppose a spouse inherits money and deposits it into a joint bank account with their spouse. In that case, it may lose its status as separate property and become subject to division in a divorce. Another situation where inherited property may lose its status as separate property is when it is used to benefit the marriage in some way. For instance, if a spouse uses inherited funds to pay for the mortgage, the money invested into the home has lost its separate identity.  

Understanding the financial implications of a divorce can be a highly daunting task. An area of particular concern may be how your divorce will impact your credit. Unfortunately, debt and the effect of debt on credit scores can be critical components of the divorce settlement. They can have a lasting impact on the financial well-being of both parties. Today, we will discuss what is most important to know regarding how to protect your credit most effectively during divorce proceedings. If you are getting a divorce and have concerns as to how your divorce may impact your credit, contact an experienced divorce attorney to help ensure that your rights remain protected and that you understand your options moving forward. 

Essential Steps to Protecting Your Credit During Your Divorce

Here are some essential tips to consider if you want to protect your credit during your divorce. These tips include the following:

• Get your credit report – One of the first steps is to get your credit report. This will allow you to see what is on file and ensure there are no inaccuracies or fraudulent activity. 

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QDROs (Qualified Domestic Relations Orders) and QILDROs (Qualified Income Reduction Orders) are legal orders issued by a court to divide retirement assets between divorcing spouses. Today, we will discuss how these orders may be used in an Illinois divorce case. As always, if you are getting a divorce, consider consulting with a qualified attorney to guide you through the legal process.

What is Most Important to Know About QDROs? 

In Illinois, QDRO is a legal order that provides instructions for dividing  a qualified retirement plan, such as a 401(k) or pension plan, in a divorce. QDROs are considered beneficial tools in protecting retirement accounts' tax benefits. 

When a couple gets divorced in Illinois, any retirement benefits earned by either spouse during the marriage may be considered marital property subject to division. This means that the court may order that a portion of one spouse's retirement benefits be paid to the other spouse as part of the divorce settlement. To divide a qualified retirement plan, a QDRO is typically required to do this. The QDRO must be approved by the court and the administrator of the retirement plan. The QDRO will specify how the retirement benefits are divided between the parties, such as a percentage or a specific dollar amount. To be clear: you do not automatically receive a QDRO. You must request one, and the court must then approve the request. 

No one begins their marriage with the expectation that it may one day end in divorce. Unfortunately, however, many marriages end this way. Today, we will discuss Illinois no-fault divorce laws and what that means for those seeking a divorce. We will also discuss how the dissipation of assets can play a role in divorce proceedings. If you are getting a divorce, consider contacting an attorney who will ensure your rights are protected and that a favorable case outcome can be pursued. 

What is No-Fault Divorce?

Illinois is one of the many states that has adopted the concept of no-fault divorce. This means that couples seeking to end their marriage in Illinois are not required to prove fault on the part of either party. Instead, the only grounds for divorce in Illinois are irreconcilable differences. Meaning even an issue such as infidelity cannot be brought forth as a reason for getting a divorce. This simplifies the divorce process and reduces the time, expense, and emotional strain of proving fault. 

To obtain a no-fault divorce in Illinois, the couple must show that their marriage has irretrievably broken down and that efforts to reconcile have been unsuccessful. There is no longer a mandatory waiting period for Illinois divorce. That being said, when one spouse decides to contest irreconcilable differences as grounds for the divorce, being separate for six months creates a legal presumption supporting the grounds for irreconcilable differences being the reason for the divorce. Additionally, the couple must have been residents of Illinois for at least 90 days before filing for divorce.