For many divorcing couples, the family home represents far more than bricks and mortar. It is a place where children grew up, holidays were celebrated, and countless memories were made.
Deciding what to do with the house can feel like an emotional and financial crossroads. Should you sell it before the divorce is final to simplify the process, or wait until after to make a decision? A Naperville property division attorney can help you navigate this difficult decision and protect your financial interests.
How Does Illinois Law View the Marital Home?
In Illinois, most property acquired during the marriage is considered marital property, even if only one spouse’s name appears on the deed. Under 750 ILCS 5/503, the marital home will typically be divided through equitable distribution. This means the court divides property fairly, though not always equally, based on factors like the length of the marriage, contributions of each spouse, and their future financial circumstances.