Wheaton, Illinois Property Division Attorneys
Experienced Divorce Lawyers in DuPage and Kane Counties
Virtually all divorces must handle the issue of property division, and dividing up marital assets can be a source of considerable discord during a divorce. Because financial holdings are often complicated, creating an equitable distribution of these holdings is often a complex matter. At the Abear Law Offices, we are skilled in handling both simple and complex matters of property division. We work with high-wealth clients, low-wealth clients and all those in between.
Valuation of Marital Property
In a divorce, the authority of the court only extends to marital property. Marital property includes all assets and real property acquired during a marriage. Property that is acquired prior to a marriage as well as gifts and inheritance are typically considered non-marital property and ineligible for distribution.
There are many different kinds of property that must be divided in a divorce including:
- Real estate
- Valuable artwork and collectibles
- Bank accounts
- Retirement accounts
- Investment accounts
- Legal settlements and awards
- Airline frequent flyer miles
Technically, anything of value (and some things that have no quantifiable value) that is acquired during a marriage can be divided in a divorce. Determining the value of marital property is an essential component of property division. We work with accountants, appraisers and other financial professional to ascertain exactly how much your marital property is worth so that it can be properly and fairly divided.
In some cases we must work with forensic accountants to make uncover hidden assets. Attorney Anthony Abear is skilled at handling difficult issues of property division and ensuring that his clients receive their fair share of the marital property. If you are facing a divorce, contact us today to schedule a consultation and discuss the specific circumstance of your case.