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In just about every divorce, the hot topic of property division arises. In Illinois, the only property subject to division is the assets that were acquired during the marriage, with some exceptions. As Forbes magazine points out, types of marital property include the...
Some states are community property states, mandating that any marital property is split equally. Illinois is an equitable distribution state, which provides for perhaps a more fair division by taking each spouse's circumstances into account. At [nap_names...
Illinois is an equitable division state, and the Illinois Marriage and Dissolution of Marriage Act requires marital property to be divided based on several factors, including each spouse's financial and other contributions to the marriage, the value of the assets, the...
Accumulating property during marriage typically means that upon divorce, those assets will be divided. For some Illinois couples, that could lead to complex divorce issues. In addition to cash and retirement funds, other property such as business valuations and stock...
When Illinois couples go through a divorce, their attorneys work with them to divide their assets and personal belongings as fairly as possible. Sometimes the divorcing spouses’ emotional attachment to a particular item or pet sparks heated arguments that must be...
For many couples in Illinois, the decision to get a divorce is not one that is easily made. No matter what level of income or assets is at stake, a separation in Illinois usually entails property division. Couples should go into divorce proceedings with even a basic...
When the economy took a turn for the worse a few years ago, the divorce rate also went down. In fact, the number of divorces filed in 2009 was the lowest seen in the United States in forty years according to the National Center for Health Statistics. This came after...
Most Illinois residents have either friends or family members that have gone through a divorce. They have also likely heard many stories of the hardships associated with this experience. Identifying marital property and non-marital property as part of an overall...
When couples in Lake County, and other localities, get divorced, one of the major steps is dividing marital property and assets. In some cases, if an agreement is not reached between the two sides, a judge may step in and decide how to divide their funds and...
For couples in Lake County, and throughout the U.S., the asset and property division process can often be one of the most contentious aspects of settling a divorce. Going into negotiations for dividing marital property, it is not uncommon for one or both spouses to...
