If you live in Aurora, Illinois, a divorce will affect many if not all aspects of your life. While you may not necessarily have children, you probably do have property. This can result in severe disputes in court. In such cases, where emotions run high and differences exist on who owns what, you need to hire a divorce law firm. If nothing else, the lawyers can help you keep your sanity during this emotional and often combative time.
Property Division in Illinois
The state of law has adopted the “equitable” distribution of property approach. This does not mean the items you possess are split down the middle. This is not the case in many instances. It is definitely so if you and your former spouse or partner are at odds and cannot agree to a property settlement agreement.
In addition, Illinois is a dual classification divorce state. Simply put, this means the court considers your property as falling into one of the two categories:
- Marital property
- Separate (individually owned) property
While your divorce law firm may try to hammer an agreement, if you and the defendant cannot arrive at a mutual agreement, it will end up at the mercy of the Circuit Court.
Factors in Property Division
The Circuit Court in Aurora will look carefully at your property. They will take into consideration a variety of factors before rendering their decision on how you and your spouse will divide the property. Among the elements the court will consider are:
- Length of your marriage
- Value of your property and that assigned to your spouse
- Economic situations of both you and your each spouse/partner
Based on this information, the court will prepare a judgment. In it, it will state the specific distribution of two major components: marital property and marital debt. However, in terms of property proven to be acquired before the marriage, the court deems it to belong to that individual who brought/owned it. The same applies to debt. Marital debt will be shared between you and your spouse. If it is debt you or your spouse created together, you will share it together. Be sure to talk to your divorce law firm about the specifics. A reputable law firm, such as Fay, Farrow & Associates, P.C., will provide you with further details to help clarify the matter.
Make It Easier: Contact a Divorce Law Firm
If a divorce is in your near future, you need to be aware how the law addresses certain aspects. In the case of property, you need expertise to help you obtain what is rightfully yours. In Aurora, IL, you can make it easier on yourself and your spouse. Simply contact a divorce law firm to help you sort things out satisfactorily