In the year 2020, it will be much easier to change your name after a divorce. This is due in large part to a new law. There are many reasons why a divorced person might want to change their name, and certain steps must be followed when doing so in Illinois.

Why Change Your Name After a Divorce

There are many reasons you might wish to change your name following your divorce. Here are just a few:

• Liberation and “Fresh Start”—Being able to change your last name back to your original name or even an entirely different name of your own invention will grant you a sense of liberation. You will feel like you are taking steps forward in your new life without your spouse.

  ...

In a previous blog post, we discussed some reasons that you may want to sign a prenuptial agreement before getting married. But what if you are already married? In these cases, you may consider a postnuptial agreement. However, you may be unsure of when this type of agreement is appropriate. There are some reasons that you may want to consider discussing this type of agreement with your spouse.

Why Should You Sign a Postnuptial Agreement?

Most everyone has heard of a prenup, and these types of agreements have become increasingly more common. However, as their name implies, prenuptial agreements can only be signed before getting married. For those who are already married, a postnuptial agreement can function in a similar fashion, and it can include decisions about a couple’s marriage and their potential divorce. A postnup can address the division of property and debt and the allocation of investments and retirement funds, and it can modify or eliminate a spouse’s right to receive alimony/spousal support.

There are many reasons to sign a postnuptial agreement, and some of them are actually quite surprising. Here is a look at why you might want to sign a postnup:

It might seem like a cynical thing to contemplate prior to your wedding, but before getting married, you should consider drafting and signing a prenuptial agreement. Prenuptial agreements, or “prenups,” are less of a way to imply doom and gloom for your future marriage and more of a smart method to prepare yourself for the worst-case scenario: divorce. Prenuptial agreements enable you to decide on many of the terms of your divorce at the start of your marriage—this includes division of property and division of debt; allocation of investments and retirement funds; and determination of alimony/spousal support.

Why Should You Sign a Prenup?

At one time, prenups were more common among wealthier people who had more assets with which to negotiate. These days, however, they are becoming more common for a wide variety of people, including millennials who are trying to protect themselves from the possibility of divorce in the future. Since divorce is so much more common now than it was in years past, it makes sense to safeguard against it with a prenuptial agreement.

There are myriad reasons to sign a prenuptial agreement, and many of those will ultimately depend on your particular situation. In general, some convincing reasons to use a prenuptial agreement are:

During your divorce, you and your spouse will need to address the ownership of all the property and assets you own together, and this will also include dividing marital debts. As long as debt was incurred during the marriage, it is the responsibility of each spouse, and it must be divided equitably and fairly between the spouses.

What Types of Debts Are Considered Marital Debt?

In general, any debt incurred by either spouse during a marriage is considered to be marital debt. Such marital debt may include:

• Credit cards

  ...

As discussed in a previous blog, the division of property in a divorce is a complex and nuanced issue in Illinois. This is because, as with many states, property is not simply divided equally; by law, it must be divided “equitably.” In general, equitable distribution of assets is not a strict and simple process. Typically, the decisions are subjective depending on what the parties or the judge find to be fairest depending on the circumstances. The determination of what is “equitable” is based on a variety of factors.

What Is Considered “Equitable” in Illinois

As mentioned in the last post, only marital property can be divided in a divorce; that is, only property or other assets purchased or obtained during the marriage will be divided. As such, the equitable distribution of property refers only to marital property.

While there might be that rare occasion when what is considered “equitable” in a divorce case just so happens to also be “equal,” more often than not, equitable division of assets is much more complicated and multifaceted. Overall, when determining what is equitable, divorcing spouses, their lawyers, and the judges in their cases may consider any or all of the following: