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630-416-7004

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Will County Divorce Attorney for Property Issues

Bolingbrook property division and alimony lawyer

Lawyers Assisting With Property Division and Spousal Maintenance in DuPage County

The legal issues that need to be addressed during your divorce can seem endless. Dealing with the practical aspects of separating from your spouse can be difficult enough, but determining how to resolve disputes related to your finances will also be a major concern. You will want to make sure you are taking the right approach when addressing matters related to the income you earn, the property you own, and the debts you owe. As you work to resolve these issues, you need a skilled attorney who can help you reach a conclusion to your divorce that protects your financial interests.

The Law Office of Ronald L. Hendrix, P.C. provides dedicated legal representation for divorcing spouses. When you work with us, we make sure to understand your goals, address your needs, and answer your questions. We will ensure that you are aware of the financial ramifications of the decisions you make, and we will help you reach an outcome to your case that will provide for your continuing success.

Addressing Financial Matters During Divorce

During the discovery phase of the divorce process, you and your spouse will provide each other with a full disclosure of your individual and collective financial information. This will help you make decisions about the following issues:

  • Property division - All of your marital property, which consists of assets and debts you or your spouse acquired during your marriage, will need to be divided equitably between the two of you. This division will not necessarily be equal or 50/50. Instead, you will each receive a fair share of the property you own, and this division may be based on factors such as each spouse's needs and financial resources and each party's contributions to and dissipation from marital assets.
  • Division of retirement accounts and pensions - Accounts such as 401(k)s or IRAs and pension benefits earned during your marriage will need to be divided between you and your spouse. When dividing these types of assets, a qualified domestic relations order (QDRO) is used, and this will allow funds to be transferred from these accounts without being required to pay taxes or early withdrawal penalties. For many plans, there will need to be a determination of the marital portion of the plan, and how to divide this benefit pursuant to the plan's own guidelines and requirements.
  • Division of real estate - The marital residence and other real estate property are often among the most valuable assets you and your spouse own. When addressing ownership of real estate, you may choose to sell your home, one of you may buy out the other's share of the home's equity, or you may continue co-owning the home following divorce. 
  • Spousal maintenance - To address financial disparities experienced by one spouse following divorce, spousal support may be awarded. Maintenance payments are meant to help a spouse maintain their living requirements, and spousal maintenance will be based on the income earned by both spouses and the length of the marriage.

Contact Our Naperville Divorce Lawyers

At the Law Office of Ronald L. Hendrix, P.C., we will provide you with dedicated legal help to address and resolve property issues during your divorce. If necessary, we can help you resolve complex divorce issues, including business valuation, division of high-value assets, and protection of professional practices. We will work with you to negotiate a divorce settlement that fully addresses your needs, and we will do everything we can to help you protect your financial security throughout the divorce process and beyond. To arrange a free consultation and learn more about how we can help with your case, contact us at 630-416-7004 or 815-722-7050. We provide representation in divorce cases at the Will County Courthouse in Joliet, the Kendall County Courthouse in Yorkville, the DuPage County Courthouse in Wheaton, and the Kane County Courthouse in St. Charles.

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