When a couple decides to divorce, one of the most significant areas that need to be determined is how the marital estate will be divided between them. Illinois follows the equitable distribution principle. This means that while the estate will be divided fairly, it will not necessarily be divided 50/50.
The marital estate is made up of all the assets and debts a couple acquires during a marriage. While the makeup of assets may vary widely from one couple to another, there are four common types of assets that many marital estates contain. If you are considering divorce, it is important to make sure you speak with an Illinois divorce lawyer to ensure your financial rights are protected.