Thoughtful, Skilled Property Division Lawyer
The divorce process changes almost all parts of your life. It requires a lot of tough decision making and it can be overwhelming. One of the most significant areas of change is your marital property and debt. Depending on your situation, this can be a relatively simple or an extremely complex matter. If you have been married for a short time, you may have little to divide. However, couples with longer marriages may have accumulated a wide range of assets from real estate to stock portfolios and more. Dividing these assets along with allocating debt responsibilities can be a painstaking, difficult, and highly emotional issue, especially where couples are already in conflict.
Working with a property division attorney who has experience and skill is essential. This person must also be thoughtful, and dedicated to paying attention to your needs and understanding your situation. I can be that lawyer for you. I am attorney Sahara Bell from Bell Law Group in Cook County, Illinois, and I can provide the guidance and advocacy you need during the property division processes.
Equitable Distribution Attorney Serving Cook, Will And Lake Counties
I understand how challenging it can be to divide up the assets that make up your life. It can feel like your entire financial future is at stake. At such a time, having the steady hand, knowledge, and support of a dedicated divorce lawyer can make all the difference in how your property division issue is resolved. I will work with you to ensure that your legal rights and best interests are kept at the top of your mind through negotiation or in court. I can help you make decisions, listen to you, and provide support alongside experience-backed legal guidance and advice. My goal is to help you conclude your divorce with positive results that will allow you to move forward with safety, confidence and peace of mind.
How Is Marital Property Divided In Illinois?
Marital property in Illinois is divided according to the rule of “equitable distribution.” This means that the division is done in as fair and reasonable a manner as possible. This does not necessarily mean that the split will be exactly 50/50. If you and your spouse can reach a property settlement on your own outside of court, your agreement can be submitted to the judge.
If you and your spouse cannot reach an agreement, the judge will make a ruling after listening to evidence from both sides. Judges will review many factors when deciding this issue.
These can include but are not limited to:
- The length of the marriage
- What each party contributed to the marriage, including homemaker contributions
- Value of the property assigned
- Whether either party wasted marital funds or assets
- The economic circumstances of both parties
- Whether alimony is to be awarded and if so, the amount and duration
- Child custody and how it relates to the marital home
- Whether a valid prenuptial or post-nuptial agreement exists
This is where the help of an attorney with skill and knowledge is especially essential. I understand these proceeds and I know how to advocate for you. I can help you ensure the settlement is fair and your interests are well accounted for.
What Is Marital Property?
Understanding the concept of marital property is essential during the divorce process. Marital property includes any property that was earned, bought or otherwise acquired during your marriage. Only marital property is subject to division during divorce. That means any property you own independently will not have to be divided.
Marital property usually includes:
- The marital home and other real estate
- Bank accounts
- Vehicles, RVs and boats
- Stocks and bonds
- Family-owned businesses
- Partnerships and other business interests
- Retirement accounts and pensions
- Valuable jewelry, art and collectibles
- Any other investments or property of significant value
These assets usually make up the bulk of your property and can increase the complexity of your divorce process. I can help you navigate any challenges or other unique circumstances during property division.
Speak With An Experienced Property Division Lawyer
If you’re trying to wrap your head around a divorce, I’m here for you. Set up an initial consultation to learn more about my services, and how I can help with the property division process and more. Use my online contact form or give me a call at (708) 512-5575 to get in touch. I also have offices in Matteson and Atlanta but take cases throughout Chicago and Cook County, Illinois.