Lisle Property Division Lawyers

Kane County Divorce Attorneys for Equitable Asset Division

As married people go through life, they tend to accumulate assets that belong to both of them. Most of the property a married couple acquires is considered and assumed to be marital property, meaning both spouses own it equally. When spouses get divorced, all the marital property they own must be divided between them. Illinois law states that marital property should be divided equitably—in a way that is fair to both spouses. What type of division is fair can be a highly nuanced and complex issue. It is essential to be represented by an experienced attorney who can continuously assert your rights while your divorce is pending.

SpyratosDavis LLC will start by helping you identify each piece of your marital estate that will need to be divided. We can explain how Illinois' equitable division laws might apply in your divorce. It is important for us to know your priorities and preferences during property division so that we can fight for what is most important to you. We will approach the division of property in a highly strategic manner to give you the best chance of achieving your goals.

What Is Non-Marital Property?

While most property a married couple acquires during the marriage is marital property, there are a few exceptions to this rule. Some property is separately owned by one spouse. For example, an inheritance received by one spouse or a gift given to one spouse generally does not become marital property. Additionally, any assets one spouse owned prior to the marriage will remain their separate property in most cases.

What Does Equitable Division Mean?

People often see the term "equitable" and think "equal." This can create confusion, leading many to believe that marital assets in divorce are divided 50-50. However, equitable division simply means that marital assets should be divided in any manner that is fair to both parties.

Spouses may agree on how they will divide their assets, or they may go to court and ask a judge to make the decisions. Many spouses are able to reach an agreement outside of court with the help of their attorneys or after going to mediation. However, mediation is not for everyone. If your case must go to court, the judge will likely consider factors including:

• Prenuptial or postnuptial agreements - If you signed a contract that covers how marital property should be divided, this contract will likely control the case.
• Each spouse's health and circumstances - The age, health, and station in life of each spouse should be considered.
• Earning capacity and opportunity - If one spouse has little earning capacity or is less likely than the other spouse to have the opportunity to build wealth in the future, this may factor in the division of property.
• Each spouse's contributions - The court can consider each spouse's contributions to obtaining or increasing the value of marital assets. This includes noneconomic contributions, like the support of a homemaker spouse.
• Child custody - The court may consider the children's needs in light of which parent will have more parenting time in determining how the marital estate will be divided. In many cases, the court will favor allowing the children to remain in the marital home rather than uprooting them in favor of the noncustodial parent.
• Actions causing decline in value - If one spouse dissipated (recklessly wasted) marital assets or intentionally caused an asset to decline in value, that spouse may be required to give up property of equal value.

Whether your case is resolved through out-of-court negotiations, mediation, or litigation, these and other factors are likely to be given careful consideration. Our attorneys will be strategic in how we present these factors as they apply to your case.

Contact a Lisle, IL Property Division Lawyer

SpyratosDavis LLC is committed to providing the best personalized representation possible. Our dedicated DuPage County divorce attorneys will fight for a property division order or agreement that is truly fair and beneficial to you. Contact us at 630-810-8881 to schedule your first confidential consultation with an experienced lawyer.