How is Property Divided in an Illinois Divorce?
Wheaton Divorce Attorneys Assisting with Property Division
In order to answer the question regarding property division, it is easiest for our team to explain it through a two-step answer. The courts first decide whether the property is marital or non marital. Second, they decide on the equitable division of the property. Our team at Abear Law Offices can explain those steps in more details below.
Illinois law says that division for property during divorce is not handled in a 50/50 fashion. Many cases will start with that number, then proceed to sway either way, but 50/50 is not a guarantee. Now, what does it mean when the court is deciding if your property is non marital? Non-marital property can be classified as a number of things; for example, it could be a bank account that you had before your marriage or a 401K investment account that you had previously established. This can also include gifts, family heirlooms, or inheritances that you may have received.
Once the courts have established what parts of the property are marital and non marital, they then begin the equitable division. Many factors play into the courts reaching their final decision. They examine if each party has the ability to earn an income now or in the future, age and health, if one of the spouses spent marital money on non-marital issues, and who generated those assets. The courts will not take into consideration whose fault the divorce may have been. They will take into consideration if you were the spouse possibly raising the children in the marriage.
Contact Our Wheaton Property Division Lawyers
If you have further questions regarding family law, divorce law, or any other legal questions, please contact us. Our team at Abear Law Offices will give you a free confidential 20-minute consultation to hear your case. We have offices in Wheaton, St. Charles, Chicago, Warrenville, and Naperville. So if you live in counties such as DuPage, Will, Cook, DeKalb, or Kane, find one of our offices near you for customized and client-centered legal counsel.