Three Key Issues About Property Division in an Illinois Divorce

 Posted on December 00, 0000 in Division of Property

Divorce brings with it a plethora of things that you must settle before you can finalize your divorce. Just one of the many things involved in a divorce is property division. When you are married, you and your spouse share almost every aspect of your lives together. Though this makes your life easier while you are together, it can make for a tough time when you get a divorce. Property division can often turn even the most peaceful of divorces into screaming matches. Here are a couple of things that you should know about Illinois property division before you settle your divorce:

Illinois Is an “Equitable Division” State

In the state of Illinois, property division is divvied up in a way that is equitable, rather than equal. This means that all factors will be looked at before determining which spouse gets which property. This also means that property division will not always be 50/50. If the judge feels that one spouse should receive more property than the other, then he can award that spouse more.

Some Property Is Not Subject to Division

Before you even divide any property, you must first determine which property is eligible for division. All marital property (which is property that was acquired during the marriage) is subject to division, while non-marital property (property acquired by either spouse before the marriage) is not.

Debts Must Also Be Divided

In addition to dividing up your assets, you are also required to divide up your debts. Debts can be anything from auto loans to mortgages to credit card debt. Though you obviously do not want to be the one to be responsible for debt, you must figure out who will pay what.

Hire a Skilled DuPage County Property Division Lawyer

Negotiation is an art and being a skilled negotiator is important when it comes to property division in a divorce. At the Law Offices of Matthew M. Williams, P.C., we can help you figure out which property is most important to you and which property you feel you could use as bargaining chips. Our skilled Aurora, IL property division attorneys will help you and your spouse come to a property division agreement that you both are comfortable with. Call our office today at 630-409-8184 to schedule a consultation.

Source:

http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=2086&ChapterID=59