Asset division can be one of the more contentious aspects of an Illinois divorce. The assets with the highest value during a divorce are often the marital home and retirement funds. Yet the marital home may be overlooked for several reasons. If the divorce is particularly acrimonious, both parties may want to sell the home as quickly as possible and split the profits. If the real estate market is high, this could be the best course of action for both spouses. If the real estate market is in a downward spiral, keeping the home could be more lucrative until the market rebounds.
How the marital home is split will also depend on whether the couple has children and whether the court believes keeping those children in their accustomed home is in their best interests. Depending on each couple’s specific circumstances, there are many other solutions for the marital home during a divorce. If you are considering divorce, it is important that you understand the value of your marital home before walking away from it. Having a Naperville, IL asset division attorney from the Law Office of Ronald L. Hendrix, P.C. as your legal advocate during your divorce can ensure you receive your fair share of the marital assets.