Table of Contents
Divorce Property Division Attorneys
Table of Contents
Key Takeaways
- Illinois is an equitable division state: Marital property is divided fairly, not equally, based on factors like marriage length, contributions, and financial circumstances.
- Marital vs. non-marital property: Assets acquired during marriage are marital, while pre-marriage assets, gifts, and inheritances are non-marital and not divided.
- Protect assets with agreements: Prenuptial/postnuptial agreements, keeping assets separate, and legal advice can safeguard wealth during divorce.
- Debts are divided equitably: Like assets, marital debts are split based on income, needs, and contributions.
- Experienced attorneys avoid unnecessary litigation: They ensure fair resolutions, protect rights, and help navigate complex issues like alimony and hidden assets.
Why lose your shirt to divorce, when our experienced property division attorneys can safeguard your wealth? It is time to get the answers you deserve… and that begins with a simple, confidential and straightforward conversation.
Let’s face it, divorce is hard, but losing the assets and wealth you’ve generated over the course of your life shouldn’t be the price you pay for ending an unhappy marriage.
Division of property is often a highly contested issue, no matter the extent of marital assets. While this process is overwhelming and seemingly impossible, our expert property division attorneys are here to help you find a fair and favorable resolution. No case is too complex for our team to handle.
We’ve helped our clients retain millions in assets. We’d like to do the same for you.
Is Illinois a Community Property State?
No, Illinois is an equitable division state, not a community property state. In a community property state, the value of all marital assets is divided equally. That’s not the case here. A court’s property division decision is based on many factors. Some of the considerations taken by the court include the length of the marriage, each spouse’s economic circumstances, the value of the property, and each spouse’s contribution to the marital estate, which can include the time spent caring for children and the home while the other spouse worked.
What is Considered Marital Assets in Illinois?
Under Illinois law, all property acquired by either spouse during a marriage is presumed to be a marital asset. This is true regardless of whose name the property is titled in or whose money was used to purchase the property. There are exceptions to this which include assets acquired by one spouse by way of gift, legacy, or descent (inheritance).
What Are Some Examples of Non-marital Property?
Non-marital property is any property acquired before the marriage or property acquired during the marriage by one spouse by way of gift, legacy, or descent. The deciding factor in how most assets are categorized is based on when they were purchased and by whom.
How is Property Divided in an Illinois Divorce?
In an Illinois divorce proceeding, the court categorizes a couple’s property as either “marital” or “non-marital,” which determines the assets eligible for division. As part of the dissolution action, both marital assets and marital debt are subject to division. The court is mandated by Section 503 of the Illinois Marriage and Dissolution of Marriage Act to ensure a fair and equitable distribution of property amassed during the marriage.
How Do I Protect My Assets During a Divorce?
To protect your assets in a divorce, you can employ several strategies, including prenuptial or postnuptial agreements, keeping assets separate, establishing trusts, and by consulting an attorney in order to understand property division laws in Illinois.
Why Trust Merel Family Law
Our clients demand and deserve world-class legal representation, and they won’t settle for anything less. So, we prepare for every scenario, collaborate when it makes sense and fight like hell when it doesn’t. You’ll have peace of mind knowing we will never push you into a lengthy, costly and unnecessary court trial. However, we will use all legal remedies to protect your rights. We are available to be reached 24/7 and have offices in Downtown Chicago, Hinsdale, Highland Park and Detroit, so we’re easy to get in touch with in-person or otherwise.
Here’s what you should know about us:
- We Don’t Believe in Ordinary
- We’ve Worked Hard to Earn Our Reputation
- We Believe in “Winning” as Painlessly as Possible
- We’ll Help You Avoid Unnecessary Litigation
- You’ll Receive Seasoned Support
- You Can Reach Us Easily
- Meetings With Your Attorney Are Easy and Convenient
Testimonials
“Thank you so much attorney Mitch Dean for helping me through a difficult time. You were very supportive, patient and an amazing lawyer. I must not have pursued the divorce process without you. Mitch went above and beyond in handling my case. Very extremely knowledgeable, kept me well informed and explained in details all the steps and forms in the legal process all the times. Highly recommend Atty. Dean. THANK YOU to Merel Family Law team for helping me start a new life. Highly appreciated.” – Jocelyn
Ensure Your Financial Future is Protected
Establishing financial responsibility and ownership during a separation can be complicated both legally and emotionally. Expert legal advice will help you settle any dispute in a fair and favorable way. Aspects of negotiating marriage finances can include alimony, property division, child support, college expenses, and debt separation. Our attorneys are well-versed in fighting for your best interests in and out of the courtroom and coming to a resolution you can live with peacefully.
Fair and Favorable Alimony Resolutions
Alimony, or spousal maintenance, is generally awarded in situations where one spouse is non-self-supporting financially. At Merel Family Law, we make sure a fair amount of spousal maintenance is determined either amicably or through litigation.
The court will consider these factors when awarding alimony:
- Income, assets, and debts of each party
- Current and future income-earning capacity
- Constraints on earning capacity like lack of education
- Duration of marriage
- Standard of living during the marriage
- Child custody and parenting time arrangements
- Age and health of each party
- Tax consequences of each party
Receive Justice with Cases of Failure to Pay
Court orders for spousal support are taken very seriously by the state of Illinois. When a spouse is struggling to receive required alimony payments, it is vital that the law steps in to enforce payment. Penalties against the delinquent spouse can include:
- Being found in contempt of court
- Paying for opposing counsel court costs
- Extending duration of maintenance payments
- Garnishment of wages
- A lien placed on their property
- Criminal prosecution including fees and jail time
Guiding You Through Each Phase of Divorce
Terminating a marriage or civil union is complex, anxiety-inducing, and undoubtedly distressing. The skilled and assertive divorce attorneys at Merel Family Law are dedicated to providing you with unwavering support throughout the process. As our esteemed client, our commitment to you is to offer superior representation and ensure that someone is always there to address your inquiries and worries.
Speak With a Property Division Lawyer About Your Divorce Case
No matter the issue, we’re here for you. Contact us at (312) 408-7000 or fill out a contact form by clicking the “Schedule a Consultation” button at the top of this page. We monitor our inboxes and answer the phone 24/7 to get you the help you need, when you need it.
Secure Your Fair Share In A Non-Community Property State
In non-community property states like Illinois, dividing assets during divorce isn’t always a straight 50/50 split. Instead, courts aim for an equitable distribution based on fairness. Understanding your rights is key to protecting your interests. At Merel Family Law, we fight for the best possible division, so you have the means for a bright post-divorce future. Our Chicago, IL property division lawyer can help in many contentious situations.
Types Of Property Division Cases We Handle
Our firm represents clients in some of the most complex asset division cases, including:
- High-Net-Worth Divorces: These involve substantial assets like investment portfolios, multiple properties, business holdings, and luxury goods. Our firm ensures accurate asset valuation and equitable division while preserving client financial stability.
- Business Owner Divorce Cases: When one or both spouses own a business, it becomes critical to determine ownership percentages, business valuation, and how to protect or divide the enterprise fairly without disrupting its operation.
- Real Estate and Property Holdings: This includes marital homes, vacation properties, and rental units. Our Chicago property division lawyer works to differentiate marital from non-marital property and negotiate fair buyouts or property transfers.
- Retirement Accounts and Pensions: Pensions, IRAs, 401(k)s, and other retirement benefits are often overlooked but can be significant. Our legal team ensures qualified domestic relations orders (QDROs) are used to divide retirement funds appropriately.
- Hidden or Undisclosed Assets: In cases where one spouse may attempt to hide income or assets, we employ forensic accountants and other legal tools to uncover and ensure full financial disclosure.
- Commingled or Transmuted Assets: These cases involve separately owned property that became mixed with marital assets (e.g., inheritance used for a joint home). Our firm helps trace and separate these assets properly.
- Debt Division Cases: Along with assets, liabilities like credit card debt, mortgages, and personal loans are divided. We work to ensure debt responsibility aligns with fairness and legal standards.
- Prenuptial and Postnuptial Agreement Enforcement: When agreements exist, our lawyer evaluates their enforceability and ensures they are properly applied during property division.
- Complex Asset Division with Tax Implications: Our attorneys consider future tax consequences, ensuring divisions won’t lead to burdensome liabilities down the road.
Why Experience Matters In Property Division Cases In Chicago
Merel Family Law, led by founder Jonathan Merel, is a premier Chicago-based family law firm renowned for its legal knowledge and client-centered approach.
- Established Leadership: Founded in 2009 by Jonathan Merel, the firm has rapidly grown into a respected entity in the Chicagoland area, known for its professionalism and authenticity in handling family law matters.
- Comprehensive Legal Services: The firm offers a wide range of services, including divorce, child custody, alimony, property division, and LGBTQ+ family law, catering to diverse client needs.
- Experienced Attorneys: Merel Family Law boasts a team of seasoned attorneys with specific experience handling cases involving women, LGBTQ+ couples, fathers, high-net-worth individuals, and dissolution of long-term marriages.
- Recognized Excellence: The firm is metro-ranked in Family Law by Best Law Firms and has multiple attorneys recognized in The Best Lawyers in America® for their professional excellence.
- Client-Centered Approach: Merel Family Law emphasizes clear communication, constant support, and a compassionate approach, helping clients resolve their family law matter with confidence
Do you need help with dividing marital assets? Please call our Chicago property division lawyer today for a consultation.
Frequently Asked Questions
The way debts are divided is similar to how assets are divided. First, the debt needs to be categorized as marital or non-marital. Once this is decided, the court will consider these aspects to divide the debts equitably:
- Each spouse’s income and earning capacity
- Each spouse’s financial needs and obligations
- The contribution of each spouse to the acquisition of the debt
- The duration of the marriage
- The value of the marital assets assigned to each spouse
- The economic circumstances of each spouse at the time of the division
- Any prenuptial or postnuptial agreements between the parties
The dissipation of marital assets is when one spouse uses shared marital funds for their own benefit or for a non-marital purpose after the breakdown of marriage but before the divorce has been finalized. Upon a finding that dissipation was committed, a court may order the party responsible to repay the marital assets to make the other spouse whole. Common actions that qualify as dissipation are:
- Transferring money
- Concealing assets
- Large purchases
- Gambling losses
- Spending sprees
- Money spent during an extramarital affair
A retainer is an initial deposit required by attorneys and other professionals to commence representation. The retainer covers fees (billed based on hourly rates) and expenses. If the retainer is used up, the client will be responsible for any additional fees incurred beyond the retainer. If the case is finalized and a portion of the retainer is unused, that portion will be refunded back to the client.
Yes, a prenuptial agreement can affect your divorce. Assuming the court finds a prenuptial agreement enforceable, the terms contained therein are binding. In most cases, the terms of a prenuptial agreement are simply incorporated into a Marital Settlement Agreement or Judgment for Dissolution for Divorce.
If assets are commingled with another, that property may lose its marital or nonmarital identity. For example, if nonmarital funds are comingled with marital funds, those nonmarital funds will be transmitted to marital funds and thus subject to division by the court.
A spouse can certainly try to hide assets in a divorce. As such, it is an attorneys job to do their due diligence in the discovery process in order to ensure that no stone goes unturned with respect to marital and nonmarital property.
Yes, personal property can be divided without a court decision. In fact, the majority of dissolution cases end with an agreement.
Nonmarital property is not subject to division in a dissolution matter. Nonmarital property can include property acquired before the marriage, gifts acquired during the marriage, and inheritances.
Yes, a spouse is entitled to a portion of a business in Illinois, assuming said business was formed during the marriage and is thus marital property.
Yes, a spouse is entitled to a portion of real estate in Illinois, assuming said real estate was acquired during the marriage and is thus marital property. Illinois is not a title state, meaning the name(s) on title for real estate are irrelevant for the division of same.
Written By Merel Family Law
Jonathan Merel is an experienced attorney who advocates for his clients in all divorce and family law proceedings, including settlement negotiations and trials. Jonathan founded Merel Family Law in early 2009 after working for many years at another family law firm in Chicago.
