How Is Marital Property Determined Following Divorce in Illinois | Naperville Divorce 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

NAPERVILLE

1730 Park Street, Suite 202, Naperville, IL 60563

Phone: 630-420-1000

How Is Marital Property Divided Following a Divorce in Illinois?

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

Naperville asset division attorneysIllinois is an “equitable division” state, which means the judge presiding over your case will determine what is fair when dividing marital property between you and your spouse during a divorce. However, the judge does not arbitrarily decide what is fair and equitable. Rather, the judge must follow factors provided under Illinois law which are listed below.   

What Constitutes Marital Property?

Marital property under Illinois law means all property, including assets and debts, acquired by either spouse subsequent to marriage with very few exceptions. By this definition, property acquired prior to marriage is not included, except in certain special circumstances.

What Factors Will the Court Consider in Dividing Marital Property?

In equitably dividing marital property, Illinois property division courts are guided by several considerations established under the law, which include the following:

  • Each party’s contribution to the acquisition of marital property;
  • Value of the property assigned to each spouse; 
  • Wastage or hiding of assets;
  • Duration of the marriage;
  • Relevant economic circumstances of each party;
  • Obligations arising from a prior marriage;
  • Any prenuptial or postnuptial agreement of the parties;
  • Each party’s age, health, station, occupation, amount and sources of income;
  • Custodial provisions for any children;
  • Whether the apportionment is instead of or in addition to maintenance;
  • Future income;
  • Tax consequences; and
  • Any valid agreements between parities such as prenuptial or postnuptial agreements.

As you can see, dividing marital can be quite complicated. One might expect the party who brought in most of the income during the marriage should leave with most of the assets when the marriage is over, but this is not often the case. For example, a stay-at-home spouse whose value and contribution in the marriage cannot really be measured in dollars and cents may be awarded a substantial share of the marital property in recognition of that spouse’s efforts.  

On the other hand, the spouse who brings to the marriage or racks up large debts during the marriage would likely be expected to carry the burden of those debts after dissolution of the marriage.

Contact a DuPage County Asset Division Attorney

At Mevorah Law Offices, LLC, we are dedicated to providing quality advice, steadfast guidance, experienced advocacy, and a superior level of client service in family law and divorce matters. Our attorneys have more than 200 years of combined experience advising and advocating for clients in a wide range of areas. If you are thinking about divorce and are wondering how the divorce will impact your assets, contact one of our experienced Bloomingdale family law lawyers who will provide you with the answers you seek and guide you through the process. Call us at 630-932-9100 for a free initial consultation.


Sources: 

http://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm

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