Property division in an Illinois divorce involves separating the assets and the debt acquired during the marriage. While this may sound like a simple process, it is almost always complicated by emotions and disagreements. Determining the overall equity of all assets and debts from your marriage affects every area of your divorce. Here is a comprehensive Guide to Property Division in Divorce to help ease the process.
What you will learn from this Guide to Property Division in Divorce:
- How Illinois considers equitable distribution Divorce
- How Property is classified in Illinois
- What considered marital, non-marital, and mixed property
- How to identify the various assets to be divided ranging from assets and debts to investments to pets, and more than 11 categories of property
- How to handle debts
- The importance of record keeping
- Howe to work with your attorney in a complicated property division situation.
Understanding the law regarding the division of the assets and debts is vital to obtaining the divorce settlement you deserve. This guide will provide you the basics understanding of what is involved in a property division and divorce scenario. An experienced family law firm can make sure your interests are protected and you keep the property and equity that you are entitled to.