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Lombard, IL divorce attorney property division

The decision to get a divorce affects your entire family, especially any children that you and your spouse share. Throughout the divorce process, you will need to resolve important issues related to your children, including child support, parenting time, and the allocation of parental responsibilities. However, your children may factor into other important decisions as well, such as the division of marital assets. As you decide on the properties that will remain with each spouse, you should consider how certain properties may help you be a better parent and help your kids adjust to the changes that divorce brings.

Marital Properties That May Affect Your Children

In general, a fair distribution of assets is important so that both parents can continue to financially provide for their children as best as possible. However, certain tangible or physical properties may be especially important to maintaining a sense of normalcy for your kids. Some of those properties include:

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Lombard divorce lawyersWhen a couple decides to end to their marriage, determining how to divide marital property is often a challenging process. Before division can even begin, the parties and the court must first establish what constitutes the marital estate. Illinois law provides fairly straightforward guidelines as to what is considered marital property and what is not, but, as with most areas of law, there may be some exceptions to the rules. On such variation may include a marital home purchased prior to the marriage, which, by the letter of the law, could be considered non-marital property.

In Contemplation of Marriage

According to the Illinois Marriage and Dissolution of Marriage Act (IMDMA), assets that are acquired prior to the marriage are generally non-martial property, and those acquired by either spouse subsequent to the marriage are part of the marital estate. By this standard, a home purchased before a couple actually gets married could ostensibly be considered non-marital property, especially if the home was titled in just one party’s name.

Despite the best theoretical intentions of the law, the real world often proposes logistical challenges. For example, it is not uncommon for a couple to begin looking for a home and complete the purchase before their marriage, with the intention of the sharing the home once they are married (or sooner). If the marriage subsequently ends in divorce, the status of the home as marital or non-marital property may be in question. Over the last four decades, several cases around the state have addressed similar situations and appellate courts have established a reliable case law precedent.

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