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9thJul 2018

Property and Debt distribution is addressed in 750 ILCS 5/503.  This blog is an overview of property disposition in Illinois.

What is property for purposes of divorce in Illinois?

Property encompasses real property usually in the form of a house.  It also includes personal property like vehicles, boats, jewelry, furniture and appliances.  Other examples are retirement funds, pensions, stocks and bank accounts.

Debts and liabilities also fall under property disposition in 750 ILCS 5/503.

Marital vs. Non-Marital-An Important Distinction

Marital property and debts are distributed in a divorce.  Non-marital property and debts are not.  The court presumes that

Continue Reading Property Division in Divorce