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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.

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Lombard estate planning lawyerWhen a person dies without a will or any other instruments of estate planning in place, his or her property will be distributed by the Probate Court in according with Illinois laws regarding intestate succession. Such cases often create significant disagreements among surviving family members. Of course, families may also fight when they discover what they are to receive in a will as well—and in some situations, things can get completely out of control.

More Than Money

While people often throw their familial allegiances to the wind and try to take as much as they can, family disputes on inheritance are not always about money. Conflict can arise for emotional reasons as well. While a grandson may not care to inherit a particular pie plate that his grandmother used for 30 years, for example, that same item could mean the world to someone else in the family. It is worth putting time and careful thought into your plan regarding who inherits the sentimental assets that you own. In doing so, there are a few things you should consider.

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