Call us today to schedule an initial consultation

Subscribe to our Newsletter for helpful tips and information!

Call us today to schedule an initial consultation

Subscribe to our Newsletter for helpful tips and information!

Peace Of Mind May Be
Closer Than You Think

With more than 30 years of experience, we are prepared to guide you through today’s troubling problems and help you reach a better tomorrow.

prr
avvo
ll
aaml
iafl
sl
ABF_emblem_100x161
family-law-home

Family Law

Whatever family law problem you face, we are here to guide you to a better tomorrow.

divorce-home

Divorce

Divorce is a difficult process, but can be much easier to bear with guidance from an experienced lawyer.

child-support-home

Child Custody/ Child Support

We are here to protect your parental rights and the best interests of your children.

international-cusotdy-home

International Custody /Kidnapping

We have extensive experience handling child custody disputes that cross international borders.

How does Illinois law treat property division in a divorce?

by | Jul 5, 2018 | firm news, property division |

Property division disputes are common in many divorces in Illinois. This is true regardless of the financial circumstances. It can happen to people who have significant assets, those who are considered middle class and people who are of modest means. Oftentimes, people enter a marriage with certain property they consider their own. After they are married, they accrue different levels of property ranging in value. Sifting through complex property division issues first requires an understanding of state law and how it treats property.

If the couple acquired property while they were married, it will generally be viewed as marital property. With that, it will be assessed as property of both parties and divided accordingly. This is the marital property presumption. However, the state courts will also seek equitable distribution of property. There will be a goal of fair division. “Fair” does not necessarily mean it will be split in half without gauging the circumstances of the marriage itself.

In many marriages, the spouses both contributed to purchasing, preserving or altering the value of property one way or the other and this will be considered. The value of the property that each spouse has assigned will be calculated. Some marriages last longer than others – if it was a short-term marriage or a long-term marriage, these factors can be important. Some people are of substantial means when they get married while their spouse is not as well-off. This is considered. For spouses who had previous obligations from marriages in the past, that must be factored in. Children are an important part and the custody decision will be important. If, for example, there was a marital home, the custodial parent might be awarded the property to provide continuity and stability for the child.

People who are in the middle of a divorce and are worried about how their property will be allocated could may need to get more information about the property division process in their own unique case.