Property And Debts

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Huntley Property Division Attorney

How Property is Divided After a Divorce in Illinois

The state of Illinois is a  equitable division state when it comes to division of marital property. This means that property is divided equitably but not always equally. In some cases Judges may make the decision to distribute a certain percentage of the property to each spouse that could be compromised of personal property, debts or assets that make up the percentage. 

Marital Property vs Non-Marital Property

The Court must first determine whether property is marital or non-marital property. All property owned by the parties is presumed to be marital property, however, this presumption can be rebutted by showing that property was acquired prior to the marriage, by gift, or by inheritance, in which case it will be deemed to be nonmarital property. The nonmarital property belongs to the owner.

Marital property is to be divided equitably or fairly between the parties. If nonmarital property is comingled with marital property, it loses its identity and is then deemed marital property. The Court may reimburse a party for nonmarital property transmuted into marital property under special circumstances. Similarly, debts are allocated equitably or fairly amongst the parties. This is often dependent upon income and relative ability to pay. These nuances in how property and debts are divided is, again, where equitable division state rules come into play.

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A Huntley property division lawyer from our firm can make sure your needs and wants are properly represented in court. Backed by over 30 years of experience, our team is dedicated to client centered, personalized representation. Call us today to learn more about how we can can help you today! 

Contact our Huntley property division attorney today to arrange a free consultation to discuss your case. 

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