Dividing Assets In Illinois
Dividing marital assets during a divorce can be a complicated and time-consuming process. The marital estate includes all property, wealth, and assets acquired by either spouse during the marriage. Understanding and navigating this process requires careful attention to detail and a strategic approach to ensure a fair outcome.
I am Alicia J. Downs, an experienced attorney serving Edwardsville and the St. Louis Metro-East area. With over 25 years of legal experience, I have successfully guided clients through the complexities of property division during divorce. Whether negotiating settlements or advocating for your interests, I am committed to providing skilled representation and personalized support.
As your attorney, I will work closely with you to protect your rights and ensure you receive your fair share of the marital estate. You can trust me to navigate each step of the process with confidence, dedication, and a focus on achieving the best possible outcome for you.
What’s In The Marital Estate?
In a divorce, any property that is not classified as separate property becomes part of the marital estate. Separate property typically includes assets acquired before marriage or gifts and inheritances received during the marriage. Everything else is considered marital property and is subject to division.
Marital estates often encompass a wide range of assets, including:
- Businesses started during the marriage
- Income from your job during the marriage
- Homes purchased during the marriage
- Contributions to retirement accounts
- Investments
- Personal property
Over time, the financial aspects of a marriage can become deeply intertwined and complex. Dividing these assets fairly requires a thorough understanding of both marital and separate property laws. Navigating these issues can be challenging, but with the right legal guidance, you can protect your interests and work toward a fair resolution.
What Does The Court Consider Fair?
In Illinois, the court follows the principle of equitable distribution when dividing marital assets and debts during a divorce. This does not always mean a 50/50 split but rather a fair division based on a variety of factors. The court carefully considers several elements before making a decision, including:
- The length of the marriage
- Each party’s contributions
- Each party’s personal wealth
- Each party’s personal income
- The amount and value of the marital assets and debts
After evaluating these and other relevant circumstances, the court determines how to allocate the property and assigns each party their share. However, your voice and priorities are essential in this process. I will work closely with you to understand what matters most and will advocate for a division that reflects your goals and sense of fairness. My goal is to ensure that your rights are protected and that you receive a fair outcome.
An Attentive And Caring Divorce Lawyer
If you’re facing asset division during a divorce, I am here to guide you through the process with care and dedication. I take the time to understand your unique situation and will provide clear, honest advice about what to expect. My goal is to make this challenging process as smooth as possible while advocating for the outcome you believe is fair.
With my experience in Illinois family law, I can help you navigate the complexities of property division, whether it involves real estate, retirement accounts, business interests, or other valuable assets. You deserve a lawyer who listens to your concerns and fights for your best interests every step of the way.
Take the first step toward securing your future by reaching out today. Call me or send an email, and we’ll discuss how I can assist you in achieving a fair and equitable resolution.