Share Your Experience

five star review
X
Blog
Lombard Office
630-426-0196
Chicago South Loop
312-528-3290
Subscribe to this list via RSS Blog posts tagged in asset division

Lombard family law attorneysDivorce is extremely common, and sometimes, it can come at an inopportune time. Nowhere is this more apparent than in the case of military families, when essentially, there is no “good” time unless the person with a military career is essentially retired. To help military couples obtain a divorce in an amicable fashion without having to wait years, there are certain specific divorce laws that apply only to them.

Service and Timing Issues

The main issues in trying to obtain a divorce from an active duty military member are personal service and the possibility of default. A divorce can be filed in Illinois if one or both spouses either live in state permanently, or if one or both spouses are stationed in the state. However, in any contested divorce, the non-moving party must be served personally with a copy of the petition filed by their spouse. Otherwise the court, in theory, has no jurisdiction over them. In other words, without personal service, the military member would not have enough contact with the place where the court is for that court to have any power over him or her. If the divorce is not contested, personal service may be waived, but if it is contested, the rule is absolute.  This means that the personal service requirement can make going forward with the divorce very difficult if the military member is overseas or in a war zone.

...

Lombard divorce attorneysAsset distribution is a part of nearly every Illinois divorce, and it has unique potential to cause arguments and misunderstandings. Nowhere is this more common than in attempting to distribute assets with significant sentimental value. Both spouses may wish to retain an asset like a piece of art or jewelry that has good memories associated with it, and it can very often devolve into a fight over who will keep the item.

When, How, and Why?

The little details can make a difference. For example, the date, or rough date, of acquisition can often decide who actually has ownership of the item. If you or your spouse acquired the item before your marriage, it is your (or your spouse’s) property, with no obligation to share it. Illinois law holds that nonmarital property encompasses all that you owned before your marriage, unless you actively take the step of making it marital property. For example, if you own a parcel of land before your marriage, and sign half the interest over to your spouse, that land would qualify as marital property, because you took the affirmative step of involving your spouse in its administration.

...

Posted on in Divorce

Lombard family law attorneyIn many divorce cases, the concept of marital misconduct is often discussed, if only to underscore the fact that any evidence of it is not applicable to most divorce-related discussions. While Illinois law expressly excludes it from playing a role in issues like property division, it is still important to understand exactly what constitutes marital misconduct and what is simply a difference of ideology or opinion between you and your spouse.

Marital Misconduct and Divorce

Marital misconduct is generally defined in the law as conduct of any kind that has helped erode the marriage. This can take many different forms, from the wasteful spending of marital money to adultery to domestic violence. In many states, this kind of conduct can have a negative effect on a spouse’s portion of the marital assets as well as on the amount of parenting time granted to them. The rationale behind such decisions is that someone who shows flagrant disregard for the marriage and its benefits should be entitled to less in a divorce.

...

equitable distribution, asset division, Kane County Divorce lawyersFor a large number of divorcing couples, property division is among the most challenging aspects of the entire divorce process. Of course, much of the difficulty depends on how long a couple was married and how much property they accumulated during the marriage. Couples with few or no assets of significant value may be able reach an agreement rather easily, while couples with more complex concerns may end up having to finalize their arrangement through court proceedings. When the court gets involved, the division of property in divorce is governed by the state’s equitable distribution guidelines.

Determining and Valuating the Marital Estate

Prior to the application of equitable distribution principles, the court and the couple must establish what is to be considered marital property. A previous post covered marital and non-marital assets in greater detail, but, in short, marital property is any property acquired by either spouse during the marriage, with certain exceptions for assets such as gifts or inheritances.

...

martial assets, division of property, Illinois Divorce AttorneyDivorce can present an entire spectrum of challenges for any couple, as they must contend with a large number of concerns. Depending on their specific circumstances, they may need to negotiate considerations for their children, determine new living arrangements, and establish an agreement regarding spousal support. Despite the difficulties inherent to any those issues, couples frequently have the most trouble in property division negotiations.

Equitable Distribution

Illinois law concerning divorce requires that, in the absence of a reasonable agreement, the property which constitutes the marital estate is to be divided between divorcing spouses. Unlike some states, however, Illinois property division guidelines require the equitable distribution of marital assets and debt as opposed to equal division. While equitable distribution will be addressed in more detail in a separate post, it essentially means that the property should be divided fairly, not necessarily 50/50, based on the consideration of circumstantial factors.

...
Illinois State Bar Association DuPage County Bar Association Northwest Suburban Bar Association American Inns of Court DuPage Association of Woman Lawyers National Association of Woman Business Owners Illinois Association Criminal Defense Lawyers DuPage County Criminal Defense Lawyers Association
Back to Top