Search Site
Menu
What Property Do I Keep After My Illinois Divorce?

Divorce is a financial process as well as an emotional one. The parties must formally divide their assets as well as their debts. If they cannot come to an agreement, the issue is decided by a judge under the legal principles of equitable distribution. Here are the basics of Illinois property division:

Non-marital property

In Illinois, each party in a divorce keeps their own separate property called “non-marital” property. Non-marital property may include:

  • Assets or debts that they acquired before marriage
  • Gifts or bequests acquired by only one spouse during the marriage
  • Property excluded by a premarital agreement

Marital property

Marital property is the term for assets and debts acquired during the course of the marriage, or sometimes non-marital property “transferred into some form of co-ownership” during the course of the marriage. The category may include items such as homes, vehicles, saving accounts and retirement plans. Marital property is divided equitably between the parties, but equitably does not necessarily mean equally mathematically. When determining the issue of equitability, a judge looks at all the factors, including:

  • The duration of the marriage
  • The premarital agreement, if any
  • The likelihood of each party to acquire assets in the future
  • The financial or other relevant contributions of each party to the marital property

Illinois property distribution laws are complex. In many cases, it is not clear whether an item constitutes marital or non-marital property. If you are facing a divorce, you need to consult with an experienced Cook County property division lawyer in order to protect your assets. Call our office today to schedule a consultation with a dedicated Illinois attorney.

Leave a Reply

Your email address will not be published. Required fields are marked *

Paul Chatzky Attorney Photo
Paul Chatzky
Founder

About Born in Havana, Cuba, Paul Chatzky is fluent in Spanish and English, enabling him to effectively represent a wider range of individuals and businesses. He is AV® Preeminent™ Peer Review Rated by Martindale-Hubbell®, and is listed among Illinois Super Lawyers, which is a reflection of his high ethical standards and exceptional legal knowledge. As…

Deborah E. Chatzky Attorney Photo
Deborah E. Chatzky
Paralegal

About Prior to joining the firm as a paralegal, Debbie was employed by major banking institutions as a loan processor and as an executive secretary. Debbie was also employed as an administrative assistant for the Board of Jewish Education. Having majored in Sociology, Debbie graduated from the University of Florida in 1980. Debbie completed her…

Client Reviews
  • lawyers
    5.0/5.0

    Paul Chatzky is well educated, knows in and outs in terms of law, keeps everything under control, responds to emails, returns phone calls almost immediately. Very professional and extremely detail-oriented lawyer. Highly recommended.

    Read more

    Client

  • lawyers
    5.0/5.0

    Mr. Chatzky is very responsive, ethical and effective. I’m extremely happy with the service and I would highly recommend this law office to anyone seeking legal help

    Read more

    Client

  • lawyers
    5.0/5.0

    Mr. Chatzky is truly superb at his job. His knowledge base is profound, and he approached my situation with honesty and integrity. I knew immediately that he had every intention to obtain the best outcome for me and that he had thought of every possi...

    Read more

    Client

  • lawyers
    5.0/5.0

    I highly recommend Paul Chatzky as a high capable and honest attorney who genuinely cares about his clients and is highly committed to supporting their best interests. He lived up to the high expectations that I had and was willing as hard as me to m...

    Read more

    Client

  • lawyers
    5.0/5.0

    Paul Chatzky is always very responsive, professional, and a pleasure to work with.

    Read more

    Client

See all reviews
AWARDS
Contact us

Quick Contact Form