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Division of property in an Illinois divorce case

On behalf of Joe Lucas at Lucas Law

Property division in Illinois is conducted in a fair fashion according to several factors that are taken into account by the court-appointed judge.

Most people don't enter into a marriage thinking that they are going to divorce at some point in the future. Yet, more than 50 percent of all U.S. marriages end in divorce, according to statistics from the Centers for Disease Control and Prevention. While there are many factors to consider whenfiling for divorce in Illinois, division of marital property and assets may be one of the most complicated. In some cases, couples may be able to negotiate the details of their own property division. Other couples, however, may choose to go through mediation or leave the fate of their property settlement in the hands of an Illinois court of law.

Fair division of property

According to the American Bar Association, Illinois courts divide marital property, assets and debt equitably. The court-appointed judge who is presiding over the case will take several factors into consideration when determining who gets what in the final settlement. These contributing factors include the following, as reported by the Illinois General Assembly:

· The value of property that is delegated to each party

· How long the couple was married

· The time, money and property that each party contributed to the marriage

· Each spouses current job, income, vocational skills and ability to find employment

· The age and health of each spouse

· Whether there are children involved and which spouse has custody of the children

The judge may also take into account whether one spouse supported the career or education of the other.

The difference between marital and separate property

Although marital property may be divided during an Illinois divorce, separate property stays with the original owner. Property and assets that either spouse owed prior to the marriage may be consideredseparate property. Any gifts or inheritance given to either spouse by a third-party before, during or after the marriage can also be retained through the divorce process.

There are some situations where separate property and assets may turn into marital property, and therefore, become eligible for distribution. If a person retitles the separate property to include the other spouse's name, that property becomes marital. Furthermore, if inheritance or gift money is deposited into a joint account under both spouses' names, that money may be considered marital as well.

Legal assistance through the divorce process

It is important to ensure all of your rights are upheld during a divorce case. You want to make sure that you get everything that you entitled to in the final divorce settlement. An Illinois divorce attorney may provide the legal counsel you need during this emotional and uncertain time in your life.

Keywords: Division of property, Illinois divorce case, marital property, American Bar Association, Illinois, separate property, divorce, filing for divorce in Illinois

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