In Illinois, property division in a divorce is the process of splitting up property that you and your spouse accumulated during your marriage. But what is included in that property? Can you agree with your spouse to keep certain things if you give up others?
Illinois uses an equitable distribution system, which just means that assets and debts are divided fairly, but not necessarily equally. Understanding what must be divided, and what you may be able to keep, is the first step in the process.
At Fawell & Fawell, our DuPage County divorce attorney focuses exclusively on family law. We take a practical, results-oriented approach because your family is our priority.
What Property Must Be Divided in an Illinois Divorce?
Under 750 ILCS 5/503 of the Illinois Marriage and Dissolution of Marriage Act, marital property includes almost all assets and debts acquired by either spouse during the marriage, regardless of whose name is on the account or title. This includes: