Understanding the Division of Marital Property in an Illinois Divorce - DuPage County Divorce Attorney | Bloomingdale Family Law Lawyers
Button 1 Button 2 Button 3 Button 4 Button 5 Button 6
  • Twitter
  • Facebook
630-932-9100
Free Initial Consultation | Se habla español 630-932-9100
Mevorah Law Offices LLC
630-932-9100
Menu
DuPage County Attorneys

LOMBARD

900 E. Roosevelt Road, Lombard, IL 60148

Phone: 630-932-9100

BLOOMINGDALE

134 N. Bloomingdale Road, Bloomingdale, IL 60108

Phone: 630-529-4761

ST. CHARLES

333 N. Randall Road, Suite 104, St. Charles, IL 60175

Phone: 630-443-0600

CHICAGO

105 W. Madison Street, Suite 2200, Chicago, IL 60602

Phone: 630-932-9100

Understanding the Division of Marital Property in an Illinois Divorce

Posted on in Family Law
  • Font size: Larger Smaller
  • Print

Illinois divorce lawyerWhen it comes to divorce in Illinois, marital property is divided equitably, but not necessarily equally. This can result in a great deal of contention, and even confusion over who gets what out of a divorce. If you are separated, planning on filing for divorce, or have already begun the process, the following information can help you better understand how marital property is divided in divorce.

Marital Factors That Influence Property Distribution

Once the assets and debts have been valued in a divorce, couples can begin to negotiate a reasonable settlement regarding how the marital estate can be distributed. However, those that are unable to reach an agreement may take the matter to court. Here, a judge will consider several factors to determine how marital property should be distributed. These include:

  • Each party’s income, property, and assets;
  • Needs of each party;
  • Realistic earning capacity of each party;
  • Earning impairments of each party (including lack of training or education and physical and/or emotional health);
  • Standard of living established during the marriage;
  • Complexity of the divorce (such as closely held businesses, allocation of parental responsibilities, etc.);
  • Each party’s access to information;
  • Tax implications;
  • Each party’s ability to reasonably maintain property;
  • Attorney fees to be made for the other party; and
  • Any other factors the court may consider relevant.

Distribution of Marital Property and Allocation of Parental Responsibilities

Often, when there is a child, that child’s best interest is also taken into account during the distribution of marital property. For example, if the parent with the greatest allocation of parental responsibilities can reasonably maintain the home that the child is currently living in, that parent could potentially receive the home in the distribution. Alternatively, if the house cannot be reasonably maintained by the parent with the most parenting time and responsibilities, other alternatives for the home may be considered. It is also important to note that a child’s role in the distribution may not necessarily influence child support determinations.

Getting a Fair Settlement in Your Divorce

Regardless of how you plan to move forward with your divorce – be it through peaceful negotiations or litigation – it is critical to have a skilled legal advocate by your side throughout the process. Mevorah Law Offices LLC can protect your interests, the interest of your children, and help you work toward a favorable settlement in your divorce. Contact our DuPage County divorce attorneys today for a free initial consultation. Call us at 630-932-9100.

Sources:

http://ilga.gov/legislation/ilcs/ilcs4.asp?ActID=2086&ChapterID=59&SeqStart=6000000&SeqEnd=8300000

Latest Blog Posts

Archives

  • DuPage County Divorce Lawyers
  • Elite Lawyers
  • National Association of Distinguished Counsel
  • Top 40 Under 40
  • 2015 Top 40 Lawyers Under 40
  • Super Lawyers
  • Better Business Bureau

Let us start helping you with a FREE initial consultation.

NOTE: Fields with a * indicate a required field.
*
*
*

One Stop For All Your Legal Needs

Whether you are going through a divorce, injured in an accident, need to file a workers' compensation claim, charged with a crime, immigrating to the United States, or need to file for bankruptcy, Mevorah Law Offices LLC can help. Our trial lawyers have over 40 years of experience helping clients throughout Northern Illinois from five offices in Lombard, Bloomindale, Naperville, St. Charles, and Chicago.

Steven Mevorah has assembled experienced attorneys under one roof so that his clients need not search for a new attorney each time they need help. Mr. Mevorah has also established a wide network of additional attorneys so that his clients merely need to stop by Mevorah Law Offices LLC to find the attorney they need.

Client Focused Representation

Our practice is focused on meeting your needs with flexible hours and locations to serve you:

  • Free initial consultations
  • Saturday and evening appointments available
  • Home and hospital visits if your injuries prevent you from traveling
  • Multiple locations throughout Chicagoland
  • Veteran trial attorneys
  • Experienced negotiators
  • Payment plans available
  • Cash, check, or credit card accepted