Dividing Marital Property

When you divorce, your financial future is an important item to consider. Asset division can cause concern and disputes. At Ann O'Connell Law, Ltd., we will negotiate on your behalf to help you seek fair ownership of what matters most to you and secure your financial future during the divorce process.

Understanding Property Division In Divorce

Illinois law requires marital property to be divided in just proportions. Marital property is generally thought of as any property acquired during the marriage, but with certain exceptions such as gifts and inherited assets.

Marital assets divided often include:

  • Real estate and land
  • Retirement and investment accounts
  • Stocks and bonds
  • Business assets and interests
  • Bank account balances
  • Deferred income
  • Debts
  • Antiques and collectibles
  • Memberships

If you and your spouse had a prenuptial agreement, some items may be detailed in your arrangement. It is possible to challenge the agreement if circumstances have changed. Our attorney has ample litigation experience and can assist you if you would like to dispute your agreement.

Guiding You Through The Process

While nonmarital property is often exempt from division upon the dissolution of a marriage, it may be taken into consideration by the courts when distributing property. The court considers several factors when making its decision, and an individual with substantial nonmarital property may receive less marital property as a balance.

Helping You Keep What You Care About Most

Our lawyer strives to make the complex and often complicated process of property settlement as swift and reasonable as possible. She will help you understand the value of your assets and what is at stake and will negotiate on your behalf. If you need a divorce attorney, contact us today. Call our office at 847-859-5453 to schedule a free consultation.