Dividing Property and Debt in an Illinois Divorce

One of the most difficult issues that all couples have to face when they get a divorce is determining how they will divide the marital property. Most people think that property division only pertains to assets such as the family home, vehicles, cash and other household items, but all of a couple’s property needs to be divided during a divorce — including assets and debts that are not necessarily tangible. Property division tends to become more difficult the longer a couple has been married because couples that have been together for many years have typically accumulated more together. Marital and Non-marital Property Before you go to court, you must first determine which property is actually subject to division. In Illinois, all marital property is subject to division and non-marital property is not. Marital property is any property or debt that was acquired by either spouse after the marriage. All other property is considered to be non-marital property. Factors Used…

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