Marital Property Division and Divorce
Belleville, IL divorce attorneys focused on the bottom line
Are you going through a divorce? Odds are, one of your biggest concerns is protecting your possessions - from your house and your car, to your financial savings and various prized possessions you have obtained throughout your life.
You want to make sure you come out of your divorce with enough money and other assets to live comfortably as you move forward with your new life. Not surprisingly, marital property division is one of the biggest causes of disputes in divorce cases.
We understand your concerns. That's because our experienced divorce lawyers have been doing this work for decades in Belleville and throughout southern Illinois. At Courtney Clark Law, P.C., we know the issues that often come up involving resolving property division disputes.
Whether you are primarily interested in keeping your home or you have substantial assets that need to be protected, you can be confident with us on your side. We know how the legal system works and what needs to be done to help you protect your assets. Our law firm is especially well-known for effectively addressing financial concerns related to divorce.
How property division works in Illinois
There are many misconceptions about property division. One of the first things our lawyers can do for you during your free initial consultation is eliminate those misconceptions and explain how Illinois family law governs the division of property.
Illinois is an equitable division state, rather than a community property state. This means that unlike other states, it is not presumed that property will be divided 50/50, although that is a possibility. Rather, Illinois law calls for an equitable division of property - in other words, a fair split based on the circumstances involved. A fair division could just as easily be 60/40 or 70/30, depending on factors such as each spouse's income, child parental responsibility arrangements and more.
Of course, not every item of property is easy to divide. In particular, the marital home is often a subject of contention - you can't just cut your house in half! There are a few ways to resolve this situation:
- The house is sold and the proceeds divided between the spouses.
- As part of the larger division of property, one spouse "buys out" the other spouse's ownership stake in the house and becomes the sole owner.
- One spouse (usually with primary custody of the children) retains physical possession of the home for a certain time (for instance, until the youngest child is 18); then, the home is sold and the proceeds divided as above.
It is also important to understand that only marital property is subject to division. Nonmarital property may not be divided. This is generally based on when the property was acquired, not the named owner. For example, if you bought a car during the marriage, that is generally considered marital property, even if only your name is on the title and registration. However, a car you bought in your own name before you were married is generally considered separate, nonmarital property.
Our goal is to help you separate and protect your nonmarital property, while pursuing a division of marital property that is truly fair.
Free initial consultation
Discover what a dedicated divorce lawyer can do for you. Contact us and schedule your free case evaluation today. We are committed to results-oriented and cost-effective representation in divorce and marital property division cases.