Getting a divorce will require you to address many different legal issues, and figuring out how you and your spouse will separate your lives from each other can often be a complex process. Determining how to approach the division of marital property is not always easy, but by understanding how the laws apply in your case, you can make decisions that will protect your rights and financial interests, allow you to benefit from the effort you put into your marriage, and provide you with the resources you need to succeed as you move forward with your life.
During the divorce process, you can make sure you are taking the right steps to address property division by working with an experienced attorney. The lawyers of Weiss-Kunz & Oliver, LLC provide our clients with knowledge and understanding of how the divorce laws in Illinois apply to them and how disagreements between spouses can be resolved. Whether you need to address valuable assets during a high net worth divorce or are looking to negotiate a property settlement during an uncontested divorce, we can advocate for your interests and advise you on how to resolve disputes successfully and finalize your divorce as quickly and efficiently as possible.
Understanding Your Rights Regarding Marital Property
Before you can begin the property division process, you will need to understand what types of property will need to be considered. The assets you and your spouse own may be divided into two categories: marital property and non-marital property. Marital property includes all assets and debts you have acquired during your marriage (after the date you were married and before the date that you were legally separated). Non-marital property includes any assets either of you owned before you got married or that were acquired after a legal separation. Assets received through gifts or inheritances will also usually be considered non-marital property, and a prenuptial or postnuptial agreement may also be used to state that certain assets will be categorized as non-marital property owned by one spouse.
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