St. Charles, IL Property Division Attorneys
Skilled Property Division Lawyers Serving Clients in Geneva, Batavia, and Kane County
Property division is one of the most challenging parts of any divorce. Over the course of a marriage, a couple's finances interlock, and separating those finances is a complex process. At Shaw Family Law, P.C. we are highly experienced in handling property division matters for marriages of all kinds. We have worked with clients at all income levels including high asset divorce clients and divorce clients with business interests. We are committed to protecting our clients' interests throughout the property division process.
Equitable Distribution of Property in Divorce in Illinois
Illinois is an equitable distribution state. Consequently, marital property does not have to be divided equally, but it should be divided fairly. The process of deciding what is fair is relatively complex and somewhat subjective, however. It is important to have a strong advocate in your corner who can fight for your rights and interests. Our attorneys are those advocates. We strongly represent our clients both in negotiations with opposing counsel and in litigation if necessary.
Classifying Marital Property
The first step in the property division process is to classify what is and what is not marital property. The general rule for what qualifies as marital property is any asset that is acquired during the marriage. There are some exceptions to that rule, however, including:
- Property that was acquired prior to the marriage;
- Property that was inherited by one spouse or given specifically to one spouse;
- Property that was acquired using non-marital assets;
- Property acquired after a legal separation; and
- Property excluded from marital property by a valid prenuptial or postnuptial agreement.
When non-marital property and marital property are mixed during the marriage, dividing such property becomes more complex. For example, if marital assets are used to assist a business that one spouse held as non-marital property, the other spouse may be entitled to a portion of that business in a divorce.
Creative Property Division Arrangements
Dividing assets in a divorce is rarely a cut and dry process. To reach an agreement that is mutually satisfactory, which is usually the goal, sometimes lawyers must think outside the box. Our attorneys have been handling complex financial situations for 30 years, and we know how to find solutions to even the most challenging property disputes. While negotiating an agreement outside of court is preferred in order to save both time and expense, we are always prepared to advocate aggressively for our clients at trial.
If you are considering divorce or have already begun the divorce process, contact Shaw Family Law, P.C. by calling 630-206-3300 to schedule a free initial consultation. Our experienced attorneys will meet with you to discuss the specifics of your marital estate and explain how the property division process may apply in your divorce. We work closely with our clients to understand your objectives and priorities and develop a strategy to achieve the best possible outcome. We work with clients throughout Kane County and the surrounding areas including St. Charles, Geneva, Aurora, Batavia, Wheaton, Yorkville, Elgin, and DeKalb.