By Paul Chatzky | Published June 15, 2020 | Posted in Divorce | Tagged Tags: equitable, marital home, marital property, mortgage, nonmarital property | Comments Off on What Happens to Your House in an Illinois Divorce?
What Happens to Your House in an Illinois Divorce?
For most couples, the marital home is their largest and most valuable asset. Beyond your home’s monetary value, it is the center of family life, a place where kids were raised and special occasions were celebrated. When a couple gets divorced, what happens to the house they once shared is a concern for both parties, Read More
Read MoreWill the U.S. See its Divorce Rate Spike After the COVID-19 Quarantine Ends?
On behalf of Law Offices of Paul Chatzky With so many American residents stuck at home with their families, prognosticators have predicted that several months down the road, the country could experience a baby boom and a divorce deluge. Unlike a cozy blizzard that keeps you home from work for a few days, a global Read More
Read MoreHow Are Divorce Proceedings Being Affected by the COVID-19 Quarantine?
On behalf of Law Offices of Paul Chatzky Throughout the United States, the COVID-19 pandemic has changed our daily routine in ways that none of us could have ever imagined. Like everyone else, spouses who are already experiencing the turmoil associated with divorce have been forced to deal with additional challenges. Despite the obstacles, it Read More
Read MoreIllinois Property Division: Marital vs. Nonmarital Property
Property division is often one of the most contentious issues in divorce, after child custody. The property that was part of your married life is more than just “stuff.” Most people have emotional attachments to these items and things to consider beyond pure monetary value. Even so, the value is still important, because both parties Read More
Read MoreWho Gets the Stimulus Check When Spouses Are Separated or Divorcing?
Going through a divorce is stressful enough, but the coronavirus pandemic spreading throughout the United States presents additional complications for spouses who have decided to split. In addition to changes that might need to be made regarding custody and visitation arrangements while travel is restricted, negotiations over property division need to address any new economic Read More
Read MoreCommunicating With Your Ex About COVID-19 Custody Issues
During a crisis such as the COVID-19 pandemic, family becomes more important than ever, especially for children whose schedules have been disrupted by long-term school closures and the cancellation of other activities. Parents who are divorced or live apart for other reasons know the importance of maintaining healthy communication through difficult situations. Though this situation Read More
Read MoreHow the 2019 Illinois Spousal Maintenance Law Affects Divorcing Couples
The federal Tax Cuts and Jobs Act of 2017 eliminated the tax deduction for people paying spousal maintenance, or alimony, while exempting recipients from having to include those payments as taxable income. Many states, including Illinois, reacted to this substantial change by passing revised spousal maintenance legislation. The revised Illinois law made a number of Read More
Read MoreThe Advantages of Mediation and Collaborative Divorce
At a time in history when half of all American marriages end in divorce, it makes perfect sense to develop procedures for peaceful and respectful marital dissolution. Divorce mediation and collaborative divorce share the goal of creating an effective process for decision-making that is less fraught with animosity and argument than traditional courtroom litigation. If Read More
Read MoreDivision of Debts and Credit Card Balances
When a couple gets divorced in Illinois, the partners must divide both their assets and debts between them. Even if a couple has a well-executed premarital agreement addressing the disposition of separate and marital assets, they may not have had the foresight to also divide any potential debt. If the process is left to the Read More
Read MoreShould I Stay Married for the Sake of the Kids?
The decision to leave a marriage is one that most people do not take lightly — and even less so when children are involved. Children deeply desire to see their parents happily married and living together. That is not to say that parents who are not happily married should maintain a façade for their children’s Read More
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About Born in Havana, Cuba, Paul Chatzky is fluent in Spanish and English, enabling him to effectively represent a wider range of individuals and businesses. He is AV® Preeminent™ Peer Review Rated by Martindale-Hubbell®, and is listed among Illinois Super Lawyers, which is a reflection of his high ethical standards and exceptional legal knowledge. As…
About Prior to joining the firm as a paralegal, Debbie was employed by major banking institutions as a loan processor and as an executive secretary. Debbie was also employed as an administrative assistant for the Board of Jewish Education. Having majored in Sociology, Debbie graduated from the University of Florida in 1980. Debbie completed her…
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