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Posted on in Family Law

keep the house, Crystal Lake Divorce LawyerFor many couples, the marital home becomes one of the central issues in a divorce case. A home is generally a large chunk of a couple's property; therefore, it will naturally be an important part of the property division process. Additionally, there are a lot of memories tied to a marital home. People can often find comfort in the stability that comes with keeping a house during a divorce. However, there are several practical concerns where keeping the house is concerned. These may not be enough to outweigh the possible benefits, but divorcing homeowners should keep these concerns in mind.

Marital Home Concerns

One main concern to keep in mind when deciding upon whether or not to keep the marital home is that houses are expensive assets. Often, a divorcing spouse's options will be to keep the house, let the other spouse buy him or her out of the house, or sell the house and split the proceeds. Of these options, two tend to leave a divorcing spouse with a bank account, while keeping the house leaves him or her with an asset in need of upkeep.

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Posted on in Divorce

divorce, fighting a prenup, McHenry County divorce attorney, prenup, prenuptial agreement, property division, spousal support, overcoming a prenupMany people who are about to get married, particularly those with high net worth, choose to enter into a premarital agreement beforehand. Premarital agreements, also referred to as prenuptial agreements or prenups, are contracts between the two people about to get married detailing what should happen in the event of a divorce. These prenups are legally binding contracts, and courts will often enforce them, but like many contracts, the spouses may have legal arguments available to them that would nullify the contract. In fact, an ongoing and contentious divorce that is currently happening in Illinois highlights some of these arguments. That case, which involves a divorce between a hedge fund manager and his wife, demonstrates two of the most common arguments to invalidate a prenup: improper financial disclosures and coercion.

What Are Prenups?

Prenuptial agreements are contracts that spouses enter into prior to a marriage to decide how certain aspects of their divorce would play out. For instance, spouses who choose to enter into premarital agreements can determine things like property division and spousal support, so that the court does not have to deal with those issues during the divorce. In general, the prenup can outline the rights and responsibilities that the spouses have towards each other during the divorce.

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