Tag Archives: non-marital property
Who Gets the House?
When a couple gets divorced in Illinois, property division is usually the most hotly debated issue, especially if there are no children involved. More than any other asset, the marital home is the asset most often debated and argued over. While each case is different, family courts do tend to take certain specific factors into account in determining who has the most equitable claim to the house.Continue reading
Non-Marital Property Can Affect the Division of Marital Assets
When you get divorced in Illinois, the law requires your marital property to be divided equitably between you and your spouse. The process raises two primary questions: what is marital property and what is equitable? A qualified divorce attorney can help you understand how the answers to those questions can impact your divorce settlement. Marital Property Defined The Illinois Marriage and Dissolution of Marriage Act (IMDMA) providesContinue reading
Keeping Your Inheritance After Divorce
Inheriting assets following the death of a loved one can be a bittersweet situation. On one hand, it means that a friend or family member has died, which can obviously be tragic. However, receiving a family heirloom or proceeds from the person’s estate can be fairly exciting, and, depending on the size of the inheritance could provide a measure of financial security. But what happensContinue reading
Identifying Marital Property for Division in Divorce
For many divorcing couples, dividing marital property can be one of the most difficult considerations of the entire process. In some cases, it can create even more bitterness and disagreement than determining arrangements for a couple’s children. In child-related matters, it can be easier to compromise based on the understanding that you and your spouse are doing what is best for your child. When it comes toContinue reading