Divorce involves many legal issues. One of the most significant and controversial in many divorces is that of property division. Upon entering into a marriage, you bring your assets and property; your spouse brings theirs. Then you begin to acquire more together as a married couple. Sometimes these assets are even co-mingled during the marriage, making asset division even more difficult. Suppose you don’t have a pre- or post-nuptial agreement and can’t agree on splitting your assets now. In that case, Illinois law and a family court judge will make the necessary determinations.
When it comes to the division of assets, some states are community property states, and others are equitable division states. Community property states divide assets in a divorce 50/50. Everything is split equally. For example, suppose you and your spouse own a vehicle that is $50,000, a property that is valued at $200,000, and an investment account with a balance of $250,000. In that case, each party will end up with $250,000 in assets.
However, Illinois is an equitable property state. Under the law, assets are split equitably, not equally. Some divorce cases are resolved with 70/30 or 60/40 asset splits. Some even assign all marital property to one spouse or the other. It’s best to speak to an experienced Illinois family law lawyer to determine how this might impact your divorce.
The court’s decision concerning property division is driven by a dozen factors set out in the law. The law prohibits the court from considering “marital misconduct” when dividing the property and debts. Even if your spouse engaged in multiple affairs and destroyed your marriage relationship, the property will be divided fairly without recognizing the damage done by their actions.
Illinois divorce courts typically consider these 12 factors when determining equitable property division:
To ensure equitable property division in your divorce, make sure you hire Illinois family law attorneys who are well-versed in Illinois divorce laws as well as the tax implications of property division.
At Andrea Heckman Law, our Illinois family law lawyers understand how stressful and contentious divorce issues can be, especially those regarding property division. We can put our experience, resources, and skill to work for you, ensuring the best outcome possible. Contact us today to schedule your confidential case review at our office.
Walked in just for consultation, and in less than 45 days, my case was closed! Thanks to attorney Andrea Heckman, with all her passion and professional manner! Couldn’t be happier! Thank you so much for everything! Great attorney for all family needs! Thank you.
From the moment I walked in as a client to the end when everything was complete, I was very pleased with attorney Andrea Heckman, her knowledge, and professionalism! Her whole staff was always helpful. I would use them again if needed and refer them to everyone I know! Thank you.
Andrea Heckman has been my attorney helping/guiding/advocating for my children and I regarding my custody situation. We are in the process of working towards a more equal parenting schedule, and I have faith in her efforts and expertise to accomplish this.
I have used this office since 2018 and have nothing but excellent things to say. Andrea Heckman handled my divorce with no faults. Andrea is currently handling my child custody case and has been on top of everything! Andrea Heckman is an unstoppable force, and I would recommend her to anyone!
I could not ask for a better attorney to represent me during my case which is Andrea Heckman. Anytime I had any questions, I got a response in a timely manner. Andrea walked me through a very difficult time which was a divorce/child custody case. Andrea is very knowledgeable and motivating. The staff has been nothing but welcoming and professional. If I have to go to court for anything, I will definitely be giving this firm a call again.
Heckman Law is handling my divorce/custody. Andrea is very professional, knowledgeable, and responsive. She will take the time to answer and explain any questions you may have. She usually responds within a few hours. Honest about possible outcomes, whether it’s good or bad news. My ex doesn’t want to negotiate or cooperate with anything. Andrea is willing to fight in the courtroom for you. The case is ongoing.
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Please contact our law office in Rolling Meadows for legal assistance with divorce, child custody, or visitation issues. We serve clients in the Chicago metropolitan area who need the help of an experienced and dedicated family law attorney.