Highland Park Property Division Lawyers

In Illinois, marital property is divided by equitable distribution rules. Following this rule, a divorce must split marital property by what is fair, not what is equal.

What is marital property, though?

• Marital property: Property that is owned by both you and your spouse is marital property. Illinois law presumes that if you obtain property while married that it is marital property, except under specific circumstances.
• Non-marital property: Property that you exclusively own while married is non-marital property. Illinois law presumes that any property or asset that you solely owned before getting married is non-marital property. However, if you obtain property while married through a gift or inheritance, then that property should be considered non-marital as well.

As mentioned, the property division process will only consider marital property. Non-marital property is exempt from division. We can work diligently to make sure that your non-marital property – also called separate property in some cases – is kept out of your spouse’s possession, and that you get your fair share of marital property.

Property to Consider in a Divorce

What needs to be divided in a divorce? The short answer is “every piece of marital property.” More specifically, though, you should first consider what will happen to your most important high-value assets.

Important assets to consider during a property division case include:

• Investment portfolios
• Real estate property
• Retirement accounts
• Trusts
• Partnerships
• Corporations
• Family-owned businesses

Dissipation of Marital Assets

While a divorce is pending, you have to pay closer attention to your marital accounts and property. Your spouse might try to unduly take more property than what should rightfully be theirs through a process called the “dissipation of marital assets.” When someone uses marital funds for their own benefit and in a way that isn’t related to the marriage, and there is a divorce or separation pending, it can be considered dissipation.

The dissipation of marital assets is not just frustrating, it can also be a legal violation. If the court discovers that your spouse dissipated some of your marital assets to deprive you of them, then it might rule more in your favor when deciding on property division.

We can help prove that your spouse dissipated assets by:

• Investigating your financial accounts
• Examining changes to shared property
• Looking into suspicious purchases
• Prosecuting a dissipation claim on your behalf

Were you accused of dissipating a marital asset, but you know you did nothing wrong? We would be happy to hear from you and discuss how we can defend clients in dissipation cases, too.

Talk to a property division attorney—start with this online contact form.