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Will County divorce attorney property division

If you are like the majority of people, divorce is the absolute last thing on your mind when you are standing at the altar, ready to say, “I do.” Unfortunately, statistics show that a fair amount of marriages still do end in divorces. According to data from the National Survey of Family Growth, an estimated 22 percent of first marriages will experience divorce or separation within the first five years of the marriage. That chance increases the longer you are married, with an estimated 53 percent of first marriages ending in divorce or separation within 20 years of marriage. A divorce involves many areas of your life, with one of the biggest aspects being finances. Often, an area of contention between spouses is how property will be divided, which is why it is recommended that you consult with an Illinois property division attorney to ensure you know your rights.

Marital and Nonmarital Property

Before anything is determined or allocated, the first distinction that will be made about your property is which of it is actually subject to division. Unlike other states, Illinois is not a community property state, but rather functions on the idea of an equitable division of assets when it comes time to divorce. As such, the state makes a distinction between nonmarital property, which is not subject to division, and marital property, which is subject to division.

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