Understanding Equitable Distribution Laws in Illinois

If you and your spouse are considering calling it quits, you probably have a thousand questions. One of these questions may be, “How will we divide our property during the divorce?” When two people marry, they not only combine their lives but also their material possessions and wealth. Sometimes untangling marital assets can be a challenging and time-consuming endeavor. However, being educated about what the property division process entails can help you be better prepared and eliminate some of the stress associated with the divorce process. Separate Property Versus Marital Property If divorcing couples can, they may decide how to divide their property on their own without court intervention. However, when couples cannot agree on how to divide assets, the court must step in. Illinois divides property based on a system called “equitable distribution.” First, it is determined what property is marital (shared) and what property is non-marital or…

Read more detail on Recent Family Law posts –

This entry was posted in Divorce Law and tagged , , , , . Bookmark the permalink.

Leave a Reply