Divorce can often be traumatic for both parties. The challenging emotional aspects of separating two lives are sometimes complicated by serious financial concerns, such as how marital property will be divided in the divorce. Determining what marital property is and how it is divided can lead to additional concerns, sleepless nights and fear of the future.
These worries can be mitigated with an experienced divorce lawyer’s assistance. Our Illinois divorce attorney at the Law Office of Vincent C. Machroli, P.C. has 38 years of experience in guiding clients through the marital property asset division process, and advocating for the most favorable outcome for his clients. Call for a free legal consultation at 708-449-7404.
Marital Property is Divided “Fairly and Equitably” in Illinois
Marital property, which is property either spouse acquires during a marriage, includes all assets, as well as debts. Asset division in Illinois is based on an equitable property division standard. This means marital property is divided fairly, but not always equally. Thus, you should not necessarily expect the asset division in your divorce to be 50/50.