Illinois 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:...