Divorce and the Division of the High Value Assets and Debts - DuPage County Divorce Attorney | Bloomingdale Family Law Lawyers
Button 1 Button 2 Button 3 Button 4 Button 5 Button 6
Mevorah & Giglio Law Offices
DuPage County Attorneys


900 E. Roosevelt Road, Lombard, IL 60148

Phone: 630-932-9100


134 N. Bloomingdale Road, Bloomingdale, IL 60108

Phone: 630-529-4761


1730 Park Street, Suite 202, Naperville, IL 60563

Phone: 630-420-1000

Divorce and the Division of the High Value Assets and Debts

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

Divorce is not at all an easy thing to be dealt with. It can be both mentally and financially exhaustive. It is very much complex and tiresome a process. This is supposed to be true for both of the spouses. So, before you take the decision to renounce the marriage vows, think twice. It is such complex a situation that even the debt reduction strategies may not be able to help you do away with the debt problems, arising out of a divorce deal.

Division of high value assets

As per the divorce laws in Illinois, there is no such rule that is going to lead to a 50/50 division of the assets. This is mainly because, the state of Illinois does not fall under the community property states and thus, the division of the property and the assets based on these is not followed too. Illinois rather believes in the equitable distribution of properties in between the spouses if the question of divorce arises. So, the property and the assets can be distributed in any ratio like 30/70 or 40/60, 70/30, 10/90 and so on. There can even be situations in which all of the marital property gets handed over to only one spouse. Such cases are in general, settled either by the court or the spouses with the help of the attorneys.

In case of equitable distribution, actually the assets get distributed fairly. In case, one of the spouses was the only bread earner in the family, or rather the one who used to make the primary income, he or she is supposed to get the greater part of the assets. However, still under certain circumstances, he or she may be required by the court to share some parts of the income or the assets with the spouse.

In general, the distribution of the high value assets are supposed to include the division of the investments in the real estate market, the stock portfolios, and any other forms of assets that are like the closely held businesses, the retirement accounts or any other types of joint ventures made and also, if there are any overseas assets.

The best way to get these solved, is by reaching a settlement outside the court without creating much fuss on the same. If this is done, it is going to help you and also your spouse in avoiding stress and also incurring any debts.

Latest Blog Posts


  • DuPage County Divorce Lawyers
  • Elite Lawyer
  • 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 & Giglio Law Offices can help. Our trial lawyers have over 40 years of experience helping clients throughout Northern Illinois from 3 offices in Lombard, Bloomindale, and Naperville.

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 & Giglio Law Offices 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