Married people often acquire quite a bit of property together with their spouses. All of this property must be divided up equitably during a divorce. Everything from the furniture to the marital home must be somehow divided in this process. Many spouses share retirement accounts or joint investments during their marriage that may be challenging to split fairly.
It is important to note that “equitable division” does not mean that all marital property is split evenly, with each spouse taking exactly one half. Illinois aims to distribute marital assets in the way that is most fair, which may not mean an even split.
There are a number of factors the court will consider when deciding how assets should be divided to be fair to both spouses. You and your spouse’s respective situations and needs will be considered, as well as your contributions to the marriage. The judge may consider:
The equitable distribution of property is often one of the more contentious parts of any divorce, especially when one or both parties hold high-value property. You will want a practiced attorney advocating on your behalf.
Source: https://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm
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