For most people, approaching the asset division element of an Illinois divorce can be the most nerve-wracking part of the process. Often, couples disagree on how property should be categorized – marital or separate – and then further disputes arise when deciding how to divide assets and liabilities. If you are concerned that your spouse may endanger your shared property by hiding, abusing, or wasting it, you need to know more about freezing assets. An experienced DuPage County asset division attorney will walk you through the process and help you protect your right to a fair divorce settlement.
Does Illinois Have an Automatic Financial Stay for Divorce Cases?
In some states, filing for divorce initiates an automatic financial stay, freezing assets and preventing both spouses from hiding, removing, or wasting them. However, that is not the case in Illinois. If you believe marital assets need protection during divorce proceedings, you need to request a financial restraining order to freeze them. The court will then conduct an assessment of the spouse’s actions or threats of action to determine whether the restraining order is necessary.