Legal Question in Family Law in Illinois

If you keep your home in your name and use your own funds to pay the mortgage, taxes, insurance, upkeep, etc., then the most he can ever claim is an "equity" in it and that may be little especially in the early years of a marriage. As time marches on, that "equity" increases. Also, it increases if he contributes to those costs. One reason the courts grant equity is that on the flip side if you incur a debt that is a "family necessity" he can be sued for it along with you. There's more here than meets the eye, and what will he do with the proceeds of his sale - keep them separate too? It's one thing if one or both of you have children and are trying to keep your own assets in tact to pass along. It's another if you are both just concerned about a future divorce situation. Some people will go so far as to enter into a pre-nuptial agreement, where you each define your respective estates and what happens in the event of a divorce and/or death. For older folks who have lost a spouse and for whom this situation is a second marriage, those things often make sense as part of overall estate planning. If you are concerned about those kinds of things it would be good for you and your intended most likely to consult with attorneys.... Otherwise you could be setting up a situation for later implosion.

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