The process of filing for a divorce can be hard to navigate. It can be stressful and emotionally challenging, so it is essential to understand the process before you begin. Knowing what to expect can help you mentally and emotionally prepare for the journey ahead. 

This blog post breaks down the steps in filing for divorce and what you should expect at each stage. 

Grounds for Divorce in Illinois

When getting a divorce in Illinois, it is important to understand that this state is a little different than others. With some other states, you have grounds for divorce, such as adultery and similar circumstances. However, Illinois will not allow a divorce based on that.

If you own a business but are considering divorce, you may wonder how the divorce will affect your business. Illinois is an equitable distribution state, which means that most assets gained during the marriage are subject to division in a divorce. This includes businesses.

Here are a few things you should know when navigating a divorce with a business involved.

Businesses as Marital Property 

In Illinois, a business that was owned or operated by either spouse before the marriage is usually separate property and not subject to division during the divorce. A business that was started or purchased during the marriage is treated as marital property and will be subject to division between spouses. Spouses may be able to negotiate a property division arrangement during divorce that both parties agree to. Sometimes, one spouse keeps all of the business assets and the other spouse keeps other assets such as vehicles or real estate. Others spouses divide business assets among themselves. Divorcing spouses may also decide to sell the business during divorce and split the profit or use the proceeds to pay off shared debt. 

In some instances, guardianship can be a critical step in protecting the rights of individuals who cannot take care of themselves or make crucial decisions. Guardianship gives authority over a person’s life to another individual, often a family member or close loved one. It is essential to understand when and why guardianship may be necessary so that you can provide proper care and protection for your loved ones. 

Health Conditions

If an individual has a medical condition that affects their ability to care for themselves, guardianship may be a good option to ensure their safety and well-being. For example, if someone has extremely poor health and cannot get out of bed, move around, or manage daily care and tasks by themselves, a guardian may be helpful.

Mental Impairment

A condition causing mental impairment, such as dementia or Alzheimer’s disease, can hinder someone’s ability to make decisions about their care and finances. This may require a legal guardian to be appointed to act on their behalf. Someone with severe, poor mental health may also require a guardian to make sound decisions for them.

The prenuptial agreement, more commonly known as just a prenup, is a contract between spouses that both parties sign before a marriage that decides how assets will be distributed in the event of a divorce. Many people are reluctant to sign prenuptial agreements because they believe that doing so creates an impression that divorce will be more likely, but prenuptial agreements can serve many important purposes.

The biggest benefit to having a prenuptial agreement is that property division in a divorce can be much more streamlined and involve far less dispute. People could have many other reasons for signing prenuptial agreements, including concerns about children’s inheritance or businesses owned by one spouse.

How Prenuptial Agreements Work in Illinois

Prenuptial agreements in Illinois can cover many issues, but they cannot cover everything. A prenup can determine ownership of various forms of property, possible spousal support payments, and property ownership rights in cases of death.

Illinois is an equitable division state when it comes to property division in a divorce, but not all assets are necessarily easy to split. When one spouse begins a business during a marriage, the company typically becomes marital property. Both spouses have a right to an equitable share of marital property.

Even when a spouse starts a business before getting married, the company can still become marital property if both parties’ funds were used in the company or the non-owning partner makes any contributions to a business. There are steps people can take to protect their businesses in a divorce.

How Businesses Get Handled in Divorces

There are multiple steps people can take to protect their business interests when they are getting married, and the best move can often be to put an agreement in writing. Prenuptial agreements are one of the clearest ways to stipulate that a business will not be considered marital property.