Untangling finances during Illinois divorce proceedings can be complicated, especially if the two spouses share many assets. Fortunately, a few things can help make this process smoother. Here are some tips for getting one’s financial situation in order when going through a divorce.
Tips for smoothly handling finances during divorce
An important step to take after filing for divorce is to disclose financial resources. These include sources of property, income, interest and earnings. Being transparent is critical to avoid holding up the divorce proceedings, as an entire agreement may be overturned if a material asset was not disclosed.
Documents, such as bank statements, can be provided to prove account balances as well as the values of property and shares. Certified property valuers with family law valuation experience can be used to provide unbiased and independent property valuations. A property valuer will consider various essential market factors to calculate a fair property value.
How a family law attorney can help
Figuring out how to divide financial assets during divorce can be complex, but a family law attorney in Illinois can help a client pursue a fair and comprehensive settlement with the other party at the negotiation table. If the two spouses cannot see eye to eye, the attorney will be prepared to litigate the matter. Either way, the attorney will strive to ensure the client’s rights and best interests are protected each step of the way.