Did you know that the length of your marriage is among the factors that will influence your divorce settlement? Whether you’ve been married for a short time or many years, understanding how the duration of your marriage factors into the divorce process can help you look out for your interests.
Below are the different aspects of your divorce settlement that the length of your marriage can impact.
Property division
Illinois is an equitable distribution state, which means marital property is divided fairly but not necessarily equally during a divorce. Courts consider several factors, including the length of the marriage.
In longer marriages, both spouses are seen as having contributed significantly to the accumulation of assets. Even if one spouse did not earn an income, their non-financial contributions will count. These include being a stay-at-home parent and providing emotional support to the other spouse during the marriage.
Retirement benefits
You are also entitled to a portion of the retirement benefits earned by your spouse during the marriage. These include pension plans, 401(k) and other retirement accounts. Generally, the longer your marriage has been, the more significant your share is.
Spousal support
The length of your marriage plays a significant role when determining if and how much alimony should be awarded. Spousal support is more likely to be awarded and last longer in lengthy marriages where one spouse sacrificed career opportunities to care for the household. On the other hand, alimony may be temporary or even not granted if the marriage was short-lived.
The duration of your marriage definitely plays a crucial role in your divorce settlement, but it is just one of the many factors that may affect the outcome. Reaching out for legal guidance can help you protect your interests during divorce proceedings and increase your chances of getting a fair settlement.
