Illinois law governs many aspects of divorce, including how spouses should divide their property. Illinois has an “equitable distribution” law, which means that all marital property should be divided in a fair manner, given each spouse’s circumstances. You might believe that this means you need to divide everything down the middle, but most spouses do not divide their marital property 50/50. Instead, there are several factors that should be considered when determining your property and asset division.
When possible, it is usually beneficial to reach an agreement regarding property division without going to court. If you cannot agree and the court needs to make your property division determination for you, they do not necessarily divide your property evenly. Instead, the judge should consider what is fair in light of several factors. These include
Some divorce cases might have additional considerations, including a prenuptial agreement. For example, if you and your spouse signed a prenuptial agreement, it might dictate who will get certain property. As long as the court finds the agreement to be enforceable, the property will be distributed in accordance with the agreement. If your spouse paid for gifts, hotel rooms, vacations, or other costly things for their affair, it should factor into your property division determination.
Hammer Serna & Quinn, LLC advises clients about the many aspects of divorce, including property division. If you would like to discuss your situation with a Chicago divorce attorney, contact us directly for a consultation.
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