About 17,000 people live in the fast-growing village of Sherwood, which is located in Troy Township in Will County. According to the census, almost three-quarters of the households in Shorewood involve married couples living together. Unfortunately, sometimes a marriage does not work out. When that happens, each spouse needs an experienced divorce attorney on their side to help them navigate the stressful legal process. The knowledgeable Shorewood divorce lawyers at Kollias P.C., use an individualized approach to representing clients. We are skilled negotiators who can help you get the process completed as soon as possible. However, a productive negotiation requires two people who are invested in the process. If the other party is being unreasonable or is unwilling to come to the table, the attorneys at Kollias P.C., can zealously represent you in litigation.Dividing Debts and Assets in a Divorce
While many couples are (rightfully) concerned about how assets will be divided, they also need to determine how debts will be divided. Sometimes a couple will pay off their shared debt before a divorce, but that is not always possible. Since the median home value in Shorewood is $248,000, many couples may still have mortgages on their homes.
In order to understand how debts are allocated, you need to understand how assets are divided as well. Illinois law uses an equitable distribution approach to dividing assets. A court will look at a number of different factors, including the contributions of each spouse to the marriage (including caring for the home and children), the earning ability of each spouse, the length of the marriage, any waste by one of the parties, and whether one spouse will be paying the other spouse maintenance, or spousal support.
Debt is divided in a similar manner. The court will look at who is responsible for accruing the debt and who is getting the benefit of the debt. For example, if a couple has $10,000 of credit card debt, it will likely be allocated in a way that is appropriate to how the debt was incurred. If it was related to household expenses, both spouses would likely have some responsibility for the debt. However, if one of the spouses gambled the money away or spent the money on a new relationship, the court would probably give that debt to the spouse who incurred it. A divorce attorney can advise Shorewood residents on their likely responsibility for a certain debt.
The court will frequently offset assigning a debt to one person with awarding them more assets. For example, one party may be given a car, but they will also be responsible for continuing to pay the lease on it.Parenting Time and Parental Responsibility
Residents of Shorewood know that it is a great place to raise children. In fact, close to half of the households in Shorewood have children living in them. While kids can be one of life’s great blessings, they can make a divorce more complicated. A court prefers for a couple to come up with a parenting plan between them, but that is not always feasible. If the court needs to intervene, it will make its decisions with the best interests of the child at the forefront. A Shorewood divorce attorney can advise you on how these factors may apply in your case. The spouses or the court will be responsible for deciding who will live with the children and when they can see the other parent, known as parenting time. The other decision that needs to be made is the allocation of parental responsibility. This refers to who can make important decisions for a child, such as where they go to school and which religion they follow. We can help you negotiate a parenting plan that works for you. Alternatively, if the other party is not cooperating, we can represent you in court to help come to a resolution that works for your children.Contact a Knowledgeable Divorce Lawyer to Understand Your Options
If you are considering a divorce or have separated, you need a skilled divorce attorney on your side. At Kollias P.C., we are committed to keeping clients in the loop and making sure that they know what is happening in their case, and we will answer any questions that you may have. Contact us today at (630) 912-7977 or online to set up a free consultation with a divorce lawyer in the Shorewood area.