Hinsdale Property Division Lawyer

Illinois Property Division Laws

Property division is a legal process that occurs during a divorce or legal separation, where marital property and debts are divided between the spouses. This process aims to ensure that each spouse receives a fair and equitable share of the marital assets and liabilities.

In Illinois, property division follows an equitable distribution system. This means that the court strives to divide marital property and debts fairly between the spouses, but it doesn't necessarily mean an equal 50/50 split. Instead, the court considers various factors to determine what is fair and equitable.

Some key factors that the court takes into account in Illinois include:

• Contributions to the Marriage: The court will assess each spouse's contributions to the acquisition, preservation, or increase in value of marital property. This includes financial contributions as well as non-financial contributions like homemaking and childcare.
• Length of the Marriage: The duration of the marriage can impact how assets and debts are divided. Longer marriages may result in a more even distribution of property.
• Custodial Responsibilities: If one spouse has primary custody of the children, they may receive a larger share of marital assets to ensure the children's needs are met.
• Each Spouse's Financial Situation: The court will also consider the financial circumstances of each spouse, including income, earning potential, and financial needs.
• Separate Property: Property owned by either spouse before the marriage or acquired during the marriage through gift or inheritance may be considered non-marital and not subject to division.
• Any Agreements: If the spouses have a prenuptial or postnuptial agreement specifying how property should be divided, the court will typically honor that agreement unless it's deemed unfair or unreasonable.

It's essential to note that only marital property and debts are subject to division. Marital property generally includes assets and debts acquired during the marriage, while non-marital property is exempt. However, the commingling of non-marital and marital assets can complicate this determination.

During the property division process in Illinois, both spouses are required to provide a complete financial disclosure to ensure transparency. If the spouses can agree on how to divide their property, the court will generally honor their agreement as long as it is fair and reasonable. If they cannot agree, the court will make a determination based on the equitable distribution principles and the specific facts of the case.

Property division laws can be complex, and it's advisable for individuals going through a divorce in Illinois to seek legal counsel from a qualified attorney who can provide guidance and representation throughout the process.

Why Choose Us?

Our Hinsdale property division lawyers are skilled negotiators and litigators who know how to protect your interests in court. We will work tirelessly to advocate for your rights and secure the best possible outcome for you and your family.

At Law Offices of Jonathan Merel, P.C., we offer a range of services related to property division, including:

• Determining the value of assets and debts
• Identifying separate and marital property
• Negotiating property settlements
• Representing clients in court hearings and trials
• Drafting and reviewing property division agreements

We understand that every divorce is unique and requires personalized attention. Our team will take the time to listen to your concerns and goals, and we will work with you to develop a strategy that meets your needs.

If you are facing a divorce or separation and need help with property division, don't hesitate to contact our team at Law Offices of Jonathan Merel, P.C. at (630) 318-2111. We are committed to providing compassionate, effective legal representation to clients in Hinsdale, IL.