With the decline of the economy, a primary issue in marital property division is real estate, which is worth less than the debt thereon. At the Law Offices of Susan Parnell Wilson, we are skilled in asset division and can assist you in resolving these kinds of issues.
With devalued homes and properties on the verge of going under, the landscape of property division has changed. Many divorcing couples are finding themselves forced to live together in the home, making payments so that it will not go into foreclosure. This has presented a new and growing concern surrounding how best to pay the debt without financially ruining anyone in the process.
Our lawyers, skilled in the division of marital property, can help you answer these questions and reach an agreement that gets the debt resolved equitably. This may involve the distribution of proceeds of the sale months or years after the divorce is final. These details need to be decided upon and carefully documented at the time of the divorce to avoid a volatile situation in the coming years.
Illinois Asset Division Attorney
We craft creative solutions for the distribution of household items, as well. We help divide the property to make this as painless a process as possible. We handle cases of personal property division, large and small, every day, and we know the creative approaches that will help you separate your personal assets with minimal stress and animosity.
Belleville Property Division Attorney
We also advise our clients in updating their estate and probate plans following the divorce to reflect their new life. Sometimes a divorced spouse forgets to modify essential estate documents and ends up handing over key assets to a former spouse, even though the dissolution decree provides otherwise. Beneficiary clauses on insurance and retirement documents may override the court decree, especially if these assets are governed by federal law, unless they are changed after the divorce is final.
For a consultation, please contact the Law Offices of Susan Parnell Wilson at 888-449-9575.
Law Offices of Susan Parnell Wilson
14 South Second Street
Belleville, IL 62220
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Toll Free: (888) 449-9575
Telephone: (618) 207-4187
Fax: (618) 235-1617
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