Considering Your Children’s Needs in the Division of Marital Property

 Posted on September 08, 2020 in Division of Property

The decision to get a divorce affects your entire family, especially any children that you and your spouse share. Throughout the divorce process, you will need to resolve important issues related to your children, including child support, parenting time, and the allocation of parental responsibilities. However, your children may factor into other important decisions as well, such as the division of marital assets. As you decide on the properties that will remain with each spouse, you should consider how certain properties may help you be a better parent and help your kids adjust to the changes that divorce brings.

Marital Properties That May Affect Your Children

In general, a fair distribution of assets is important so that both parents can continue to financially provide for their children as best as possible. However, certain tangible or physical properties may be especially important to maintaining a sense of normalcy for your kids. Some of those properties include:

• The family home: Your children may have a strong attachment to the home your family shared prior to the divorce, and it can be a source of comfort for them after the divorce is finalized. The home’s location may also be crucial to allowing the children to continue attending their school or travel conveniently to extracurricular activities. When deciding on the division of property, it may be important for you and your spouse to reach an agreement in which one of you is able to keep the family home, or in which you continue to own it together until your children are old enough to move out.

• Family pets: Beloved pets can provide valuable companionship for your children after the divorce, and you may even consider them to be family members in their own rights. In your divorce, you may choose to pursue an arrangement in which the family pets live with the parent who has a greater share of parenting time or even one in which the pets travel between households along with the children.

• Vehicles: As your family makes the transition from one household to two, it may be important for both parents to have access to a reliable vehicle for transportation between homes and to your children’s school and other activities. You may consider a division that gives a vehicle with more passenger space to the parent who bears primary responsibility for the children’s transportation, or one that distributes funds to allow for the purchase of a new vehicle if necessary.

Contact a DuPage County Property Division Lawyer

During your divorce, the experienced attorneys at A. Traub & Associates can help you pursue a fair division of property that meets the needs of both you and your children, and we can also help with the establishment of child support orders and parenting plans. Contact our diligent and dedicated Lombard, IL divorce attorneys today at 630-426-0196 to learn more about what we can do for you so you can move on with the next chapter of your life confidently.

Source:

https://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm