Illinois Sample Letter for Divorce - List of Liabilities and Assets
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How to fill out Sample Letter For Divorce - List Of Liabilities And Assets?
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FAQ
In order to file for divorce in Illinois, there are some criteria you'll need to meet. Here are the elements you'll need to take into consideration: You must be separated from your spouse for at least six months. Separation does not necessarily mean that one of the spouses must move out of the family home.
Under Illinois law, dissipation of assets may consist of any uses of marital property by a spouse for non-marital purposes, including spending money, transferring assets to others, or destroying property.
Marital property does not have to be split evenly, rather it is split equitably. This means the court splits the assets based on what each party deserves. The split could be 50/50, but it could also be 60/40, 70/30, or some other ratio.
Each spouse is entitled to a fair share of the couple's marital estate taking into account factors such as the duration of the marriage, financial and non-financial contributions, access to separate assets, child custody responsibilities, and post-divorce economic circumstances.
Pertinent information about yourself, such as your name, address, occupation, and any other similar identifying information. Your statement or statements of fact; each separate statement of fact should be in its own paragraph. A notarization section that will be signed and dated by the notary public.
All divorces in Illinois are finalized on the no-fault grounds of irreconcilable differences. One spouse's testimony that the marriage is ?irreconcilable? is sufficient to get a divorce in Illinois. You cannot be denied a divorce if you want one.
One of the most critical documents that both parties must submit is a financial affidavit. Even if the divorce is a friendly and agreeable one, this is a required document.
Illinois Law Mandates Complete Financial Disclosure Illinois divorce law requires full disclosure of all assets, debts, income, expenses, and any financial information acquired during the marriage.
