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Elgin divorce attorney property division

If you are considering divorce, you may be wondering what will happen to all the “stuff” that you and your spouse have accumulated over the years. Who will keep the house? As a non-working spouse, are you entitled to any of your cumulative savings? And, what about the condo that you purchased a few years ago? All of these questions are common for divorcees. After all, filing for divorce will change your life in more ways than just separating from your spouse. Depending on the state that you live in, the way that all of your “stuff,” also known as marital property, is divided can vary. For Illinois residents, things will be divided equitably, but not always equally.

Equitable Distribution Versus Community Property

Those filing for divorce may incorrectly believe that everything will be split 50/50 between them and their spouse, while others may be concerned that they will not get much at all during the division process. For a select few states that follow community property laws, things really are divided 50/50, and while this may seem like a more fair way to do things, some would argue that additional consideration should go into the division process. For the vast majority of the United States, Illinois included, the court follows equitable distribution laws when it comes to divorce. According to equitable distribution, a judge will consider a number of factors about the couple’s marriage, financial status, and more before making a decision about how things should be divvied up.

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