St. Charles Property Division Attorneys

Lawyers for Property Division Matters in Kane County

When dividing property during the divorce process, a court must first determine if the property is marital or non-marital. If the property is determined to be non-marital, the court has no authority to award any portion of the property to the other spouse. If the property is determined to be marital, then the court must "equitably" divide the property.

Marital Property Division in Illinois

Generally speaking. all property acquired by either spouse during the time a couple was married (after their wedding and before a legal separation) is presumed to be marital property, with the following exceptions:

• Property acquired by gift, legacy or descent.
• Property acquired in exchange for property acquired before the marriage or in exchange for property acquired by gift, legacy or descent.
• Property acquired by a spouse after a judgment of legal separation.
• Property excluded by valid agreement of the parties, such as a prenuptial or postnuptial agreement.
• Any judgment or property obtained by judgment awarded to a spouse from the other spouse.
• Property acquired before the marriage.
• Increases in value of property acquired by any method listed above.
• Income from property acquired by any method listed above.

What Is Marital Property?

The classification of property as marital or non-marital is often complicated, particularly when marital and non-marital property are combined. If the court determines that property is marital, the court must then determine how to "equitably" distribute the property. Illinois is not a "community property" state, and there is no "50/50" law requiring property to be divided in half. "Equitable" often does not mean equal. When dividing marital property, an Illinois court is required to considering the following:

• The contribution of each party to the acquisition, preservation, or increase or decrease in value of marital or non-marital property, including the contribution of a spouse as a homemaker or to the family unit.
• The dissipation by each spouse of marital or non-marital property.
• The value of the property assigned to each spouse.
• The duration of the marriage.
• The relevant economic circumstances of each spouse when the division of property is to become effective, including the desirability of awarding the family home, or the right to live therein for reasonable periods, to the spouse having custody of the couple's children.
• Any obligation and rights arising from a prior marriage of either party.
• Any antenuptial agreement of the parties.
• The age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities, and needs of each of the parties.
• The custodial provisions for any children.
• Whether the apportionment is in lieu of or in addition to spousal maintenance.
• The reasonable opportunity of each spouse for future acquisition of capital assets and income.
• The tax consequences of the property division upon the respective economic circumstances of the parties.

The above factors are not equally weighted, which can make the process of property distribution even more complicated. Given the issues that may affect the identification of property as either marital or non-marital property, the numerous factors and exceptions considered when dividing property, and the discretion that the court has in applying the factors and making an "equitable" distribution, you can see why there are so many myths and misconceptions about these issues and the divorce process as a whole.

Your attorney can analyze your facts and work with you to apply the law to your particular fact scenario. Your attorney needs to be familiar with the statutes, the cases, and the particular court in order to help you resolve these issues. At Goostree Law Group, we have the extensive experience and skills necessary to protect your property interests.

Contact Our St. Charles Division of Marital Property Attorneys

Our Illinois attorneys represent clients in Kane County, DuPage County, Kendall County, and DeKalb County, including Geneva, Batavia, St.Charles, Wayne, Wasco, Elburn, Virgil, Lily Lake, Aurora, North Aurora, Elgin, South Elgin, Bartlett, Gilberts, Millcreek, Maple Park, Kaneville, LaFox, Yorkville, Oswego, Plano, Sugar Grove, Big Rock, Bristol, Newark, DeKalb, Sycamore, Naperville, Wheaton, West Chicago, Winfield, Warrenville, Downers Grove, Lombard, Oak Brook, Schaumburg, and many other cities. We represent clients who are from the U.K. and from other countries as well.

Please contact the divorce attorneys of Goostree Law Group at 630-584-4800 to ask a question or set up a free, confidential initial consultation regarding property distribution or other divorce-related issues.