Chicago Property Division Lawyer
Protecting Your Rights & Financial Interests in a Divorce
Division of property is often a highly contested issue between divorcing spouses, no matter the extent of their assets. If you are filing for divorce and need assistance with the property division process, do not hesitate to consult with the Law Offices of Jonathan Merel, P.C. Our Chicago property division attorneys are ready to put our decades of experience to work for you.
Give us a call today at (312) 487-2795 to request a FREE, 20-minute consultation.
How Property Is Divided in an Illinois Divorce
In Illinois, a couple’s property is deemed to be either “marital property” or “non-marital property" by the court – which will determine which assets are subject to division.
During a divorce proceeding, the marital property and marital debt must be divided as crucial components of the dissolution action. The court is required to order a fair and equitable distribution of property acquired during the marriage in accordance with the criteria set forth in Section 503 of the Illinois Marriage and Dissolution of Marriage Act.
Guidance for Complex Financial Matters & Assets
Complex financial matters often stand in the way of a simple and straightforward resolution. At the Law Offices of Jonathan Merel, P.C., we are highly experienced in guiding our clients through the intricacies of complex financial matters as they pertain to divorce and asset division, no matter how difficult the situation may appear. Our attorneys have the skill and knowledge needed to advise you appropriately so that you can make decisions that are cost-effective and reflective of your best interests.
We are experienced in handling divorces that involve significant assets, including:
- Investment portfolios
- Real estate holdings
- Retirement accounts
- Family-owned businesses
Valuing and distributing property is part of divorce – but asset division is often much more contentious in high net worth cases. At the Law Offices of Jonathan Merel, P.C., we are skilled at categorizing and valuing complex assets. We also consult with industry experts, such as tax advisors and financial consultants, to ensure that all property is fairly valued and divided.
Intricate financial issues can surface in a number of situations, especially in:
- The determination of one’s income for support purposes
- The valuation of a marital or non-marital estate
- The dissipation of marital assets
- The valuation of a business interest or real estate holding
- The potential tax implications on the parties
- The consideration of a prenuptial or postnuptial agreement
Financial matters are a significant component of any divorce, but these issues can become exacerbated when there are substantial assets, debts, or business interests involved. Fortunately, our asset division attorneys in Chicago routinely handle cases involving complex financial matters. We are prepared to tackle your case while keeping your needs and interests in mind.
Dissipation of Marital Assets
Dissipation is generally defined as the utilization of marital funds by one spouse for their own benefit, for a purpose unrelated to the marriage. Dissipation of marital assets can only be committed during the time period where the marriage is undergoing (or has undergone) an irretrievable breakdown. If you believe that your spouse has dissipated marital assets, the Law Offices of Jonathan Merel, P.C. can step in and assist you. We have extensive experience helping partners seek justice through dissipation asset tracing in Chicago. Our property division lawyers can also represent you if you have been accused of asset dissipation.
If the court finds that dissipation has been committed by a spouse, it can order that spouse to repay the marital estate. Statutory provisions addressing this issue are found in Section 503 of the Illinois Marriage and Dissolution of Marriage Act.
The Law Offices of Jonathan Merel, P.C. handles all facets of dissipation cases, including:
- The investigation of concealed assets
- The discovery and prosecution of claims for dissipation
- Defending parties accused of committing dissipation of the marital estate
No case is too complex for our team to handle. We are dedicated to pursuing justice for our clients who have been affected by dissipation or accusations of dissipation. Our attorneys understand that this is a sensitive and difficult situation to be in – we are respectful of your case and remain committed to providing compassionate yet aggressive and results-driven representation.
Seek Guidance from the Law Offices of Jonathan Merel, P.C.
The process of valuing and dividing your property can seem overwhelming or even impossible. Our team is here to take the burden off your shoulders and make everything a little easier. Since 2009, we have been helping couples find fair and favorable resolutions to their property dispute during divorce. We look forward to assisting you and your family.
Contact the Law Offices of Jonathan Merel, P.C. at (312) 487-2795 for a free 20-minute consultation.
They were thorough, thoughtful, respectful and always acted with my interests at heart.- Former Client
Jonathan and his team are everything you want in a lawyer.- BCT
I cannot stress enough how happy I was with their performance and I highly recommend that anyone with a Family Law matter have the Law Offices of Jonathan Merel represent them.- Richard
Jonathan is a great lawyer with great services and results- John
I highly recommend Jonathan and his firm for their professionalism, experience and for getting results!- Matt