Dividing Marital Assets Helps Set The Stage For Your Next Phase Of Life
If you are going through a divorce, the assets you have worked to build during your marriage may be subject to division between you and your spouse. It is important to hire a lawyer who is prepared to take the right steps to protect your interests through this process.
At Greenwich Law Group, LLC, we are property division attorneys with seven combined decades of family law experience in the greater Chicago area. We have the requisite knowledge and insight to be effective and assertive advocates in pursuit of a fair and appropriate property division on your behalf.
Understanding How Assets And Debts Are Divided In Illinois
Under Illinois law, assets acquired by either spouse during the marriage – such as the family home, retirement accounts or professional practices – are considered marital property and subject to division as part of the divorce process. Likewise, marital debts must also be divided in divorce. Inheritances and gifts are generally not considered marital property.
Illinois follows the principle of equitable distribution, which means that marital assets and debts need to be divided fairly in divorce. This does not necessarily mean an equal 50/50 split.
There are many factors that go into how judges decide property division cases, and all these factors need to be considered when negotiating divorce settlements. The process can be particularly complex for high net worth individuals; those with retirement assets, investments and business interests; and those who suspect that their spouses have hidden assets.
We have extensive experience helping clients protect their assets and limit their exposure to marital debts in divorce. We are prepared to aggressively litigate these issues in court and in alternative dispute resolution environments.
Contact An Experienced Marital Asset Division Attorney Today
Whether you are concerned about debt division, real estate allocation, retirement savings or any other property division issue, we can help you pursue a positive outcome. Contact our law firm today to schedule a consultation. For your convenience, we have offices in Chicago and Barrington.