Illinois Property Division Worksheet
Many times dividing marital assets is not only difficult but ends up driving the cost of the case up as well. The best way to approach this complicated process is by having a firm understanding of what the law says regarding property assets and debts beforehand so you know what to expect.
Illinois is not a community property state, where everything would be split down the middle and instead works by “equitable distribution“. This means that a judge will take any number of factors into account including income, debts, age, employability and many others to determine how to best divide the assets. Any assets acquired before the marriage that remained separate will remain non-marital property as well as any inheritance or anything given explicitly as a gift to you. If you’re ever unsure of the status of any of your assets, you should contact a lawyer to get as clear a picture as possible.
Download our property division worksheet to begin understanding what your property division may look like and what you may need to give up in order to keep the house or your pension.
References: What is Equal Distribution?
Property Division Articles & Frequent Questions
Three Simple Steps
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