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Wheaton prenup lawyerWhen you see wedding bells in your near future, there are probably 101 things on your mind -- and a prenuptial agreement is not likely to be one of them. Though it can seem unromantic and it may feel like you do not trust your future marriage, a prenuptial agreement can be a hugely beneficial tool in the event that you and your spouse ever get divorced. Prenuptial agreements give you freedoms from certain laws that you would not otherwise have. A prenuptial agreement is a legal document that allows you and your spouse to basically plan your divorce before it happens. Prenuptial agreements allow you to address issues such as property division, spousal maintenance and ownership of businesses or professional practices.

Prenuptial agreements are not just for the rich and famous -- they are useful for almost everyone. Here are a few reasons why you may want to consider getting a prenuptial agreement before you tie the knot:

1. One of You Has Been Married Before

If this is the second trip down the aisle for either you or your spouse, you should strongly consider getting a prenuptial agreement. A prior marriage means you are probably coming into this marriage with more property and you may have other obligations from your previous marriage, like child support. A prenuptial agreement can protect these obligations.

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Wheaton property division attorneyOne of the most difficult issues that all couples have to face when they get a divorce is determining how they will divide the marital property. Most people think that property division only pertains to assets such as the family home, vehicles, cash and other household items, but all of a couple’s property needs to be divided during a divorce -- including assets and debts that are not necessarily tangible. Property division tends to become more difficult the longer a couple has been married because couples that have been together for many years have typically accumulated more together.

Marital and Non-marital Property

Before you go to court, you must first determine which property is actually subject to division. In Illinois, all marital property is subject to division and non-marital property is not. Marital property is any property or debt that was acquired by either spouse after the marriage. All other property is considered to be non-marital property.

Factors Used in Making Determinations

If you and your spouse, along with each of your attorneys cannot come to an agreement about marital property, a judge will assign the property to each spouse as he or she sees fit. There are certain factors a judge must take into consideration before he or she assigns the property. These factors include:

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Wheaton asset division attorneyIf you own a business or professional practice, chances are that is one of your most valuable assets. It takes endless work and a lot of dedication to grow a business and have it become successful. The last thing you want is to have half of it taken away when you get a divorce. Everything you and your spouse have together must be divided before you can finalize your divorce -- and that can include businesses and professional practices. Do not worry -- there are things you can do to make sure your business remains in your possession. Here are five ways you can protect your business during your divorce:

1. Get a Fair Valuation

The first step you should take before you begin dividing up your assets is to get a valuation of your business, so you know what it is worth. Instead of estimating what your business is worth, you may opt to use a court-appointed evaluator who will look at multiple facets of your business to arrive at a valuation. Such aspects include your business records, the business’ goodwill, and business competition. Then, you can hire an outside professional to review the numbers just to make sure everything is square.

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Naperville asset division divorce lawyerToday, nearly three million ex-spouses within the United States earn Social Security benefits from their former spouse's work records. If you or your ex have Social Security benefits and are officially divorced, you may want to know what rights you have under the law. Additionally, if you are considering divorce, you will want to understand what your spouse is likely to claim in the future. This information can directly impact the divorce judgment with regards to property division and support claims. Consider the following regulations:

Length of Marriage

According to the United States Social Security Administration, if you are divorced, but your marriage lasted at least ten years, an ex-spouse can receive benefits from another spouse’s record. An ex-spouse is still eligible even if the benefiting spouse has remarried. However, if the non-benefitting ex remarried, they can no longer make a claim, unless their new marriage ends, either by death, divorce, or annulment.

Qualifications

A divorced spouse has “divorced spouse benefits” equal to one-half of their spouse's retirement or disability benefits. An ex must meet the following qualifications:

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Wheaton divorce attorneyIt is no secret that money and finances are at the heart of many marital struggles. However, a recent study indicates that student loan debt is responsible for destroying a significant number of marriages. If these debts are to blame for a rift between you and your spouse, you are not alone. Fortunately, in marriage, you have a built-in partner to help you deal with the problem.

This article discusses both the statistics of student loan and divorce, as well as how you can avoid becoming part of this statistic:

An Unaffordable Necessity

In the generations before us, college and post-graduate education was an affordable addition to primary education; although, most high school graduates were able to find a stable career right out of school. Today, even entry-level positions may require some higher learning. Unfortunately, when demand increased for knowledge so did the cost. What once was an affordable option, is now an unaffordable necessity.

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