Much of the stress that occurs during a divorce is due to a fear of instability. You worry that you may not have the assets and resources you need to live comfortably as you move forward with your life following the end of your marriage. You want to make certain that the division of property is fair so you have a solid foundation of assets to build on.
At Rinella and Rinella, Ltd., our attorneys have the experience to help you get your fair share of the property. For decades, our law firm has been achieving positive results in divorce and property division cases in Chicago and throughout Illinois.
How Property Division Works In Illinois
There are many misconceptions about what property is subject to division and how that property will be divided during a divorce. We are committed to educating you about how the process really works so you can make informed decisions along the way.
First of all, property falls into two categories: marital property and nonmarital property. Marital property is all property acquired during the marriage, with some exceptions. This property is subject to division during divorce. Nonmarital property, also referred to as separate property, is property acquired prior to the marriage. Gifts and inheritances may also be considered separate property. Separate property is not subject to division, which is why our lawyers spend a great deal of time making certain property is classified appropriately. We want to make certain that you are able to keep all your nonmarital property.
Illinois law requires an equitable division of property. Equitable does not mean the same thing as equal. Equitable means fair. In many cases, an equal split is fair. However, sometimes it makes more sense for the split of property to favor one spouse or the other in order to compensate for other financial issues, such as a lack of income or earning power. We will work to see that all factors are considered in our quest to get you a fair division of property.
Contact Us Today
Call 800-699-5181 or email us to set up a meeting with one of our experienced lawyers.