A South Barrington, Illinois, couple who own a retail business together have just overcome a challenging year. Their customers are returning to shop in person, and they are recovering from an economic downturn. Unfortunately, the same cannot be said about their marriage. After 15 years of marriage, running a business together has become too much of a strain on their relationship, causing non-stop arguments.
The wife has realized that all of her teenagers would likely be out of the house in five years and that she is only staying with her husband for the sake of their children. She no longer wants to run a business with her husband. Looking towards a fresh start, she decides to begin preparing herself to get divorced.
Preparing to Get Divorced in South Barrington
In many cases, the decision to get divorced is the most challenging aspect of the divorce process. Once you have decided to get divorced, you can begin preparing yourself. Divorce can be an extremely stressful process, both financially and emotionally. The first aspect of your divorce you will need to consider is whether you will seek an uncontested or a contested divorce. In an uncontested divorce, both spouses agree on the terms of the divorce. In a contested divorce, the spouses do not agree on one or more issues. Contested issues commonly include child support, parental responsibilities, and the division of assets.
Consider Your Priorities
If you anticipate a contested divorce, we recommend taking some time to think about your priorities. What is the most crucial issue in your divorce? For some, keeping the family home is incredibly important. For others, child custody matters are the most important. Think about what you would be willing to give up during negotiations and what your non-negotiable issues are and discuss them with your lawyer.
Take an Inventory of Your Property
We recommend taking inventory of all of your property. You will need to gather all of your financial documents, including your pay stubs, tax returns, financial account statements, and retirement plan documentation. If you have retirement accounts and investment accounts, you will need documentation of those accounts, as well.
An Illinois judge will fairly divide your marital property, which includes most property obtained by you or your spouse during your marriage. If you seek an uncontested divorce, you and your spouse will need to agree on how to divide your marital property between yourselves. If you have a family business, you will also need to consider whether you would like to keep the business yourself, sell the business and split the proceeds, or continue working with your spouse.
Discuss Your Case With a South Barrington Divorce Lawyer
Do you have questions related to getting divorced in South Barrington, Illinois? If you need representation for a divorce or child support matter in Cook County, Glasgow & Olsson is here to help. When you need an attorney, experience matters. Contact us today to learn how our experience can get you the results you deserve.