Division of Property
Property Division Attorney in Batavia, Illinois
In any divorce situation, negotiating the division of marital property and assets can be very difficult. Some couples are able to work out a suitable arrangement to be presented to the court for approval, while others, through litigation, leave the decision to the discretion of a judge.
Attorney Van A. Larson can provide professional legal representation for spouses dealing with property division negotiations of any type. With over 39 years of family law experience, he understands the process and helped hundreds of clients achieve the property division arrangement that best suits their needs.
Experienced Division of Property Lawyer Serving Clients in Kane, Kendall, DeKalb and DuPage Counties
The law in Illinois does not require an equal split of marital property between spouses in divorce. Instead, as an equitable distribution state, Illinois requires that martial assets and property be distributed fairly, not necessarily equally. The court is granted discretion in determining equitable distribution based a number of factors, including but not limited to:
Each spouse’s contribution to acquisition and value of marital and non-marital property, including as a homemaker and familial contributions;
The dissipation by each spouse of marital or non-marital property;
The value of each spouse’s assigned property:
The duration of the marriage;
The pertinent economic situation of each spouse;
Provisions made for child custody;
Age, health, training, and earning capacity of each spouse;
Orders for spousal maintenance;
The tax consequences for each spouses following the division of property;
Any obligations and rights related to a prior marriage of either spouse; and
Any valid premarital agreement between the spouses.
Marital and Non-Marital Property
In dividing property, only marital property and assets are subject to division. Marital property is defined as property acquired by either party in the course of the marriage with several exceptions. These exceptions constitute non-marital property and include assets owned by a party prior to the marriage, inheritances, gifts, property sold in good faith during the marriage, and that which has specifically excluded by a premarital agreement.
All property to be divided must be valued for the purposes of equitable distribution. Certain assets, such as household items or automobiles, may be valued relatively easily, while for others, such as the marital home and retirement investments, the valuation process may be much more complex. Often, assigning value of such property requires the services of a skilled professional.
Batavia, IL Attorney Representing Clients in Property Division Proceedings
When left to the discretion of the court, division of property can be very stressful. In such a, the final disposition of marital property and debt is beyond the control of either spouse creating a large degree of uncertainty. At the Law Office of Van A. Larson, P.C., our dedicated team will fight to protect your rights, and help you ensure a truly equitable division of property. Whether you wish to keep your marital home, protect your retirement savings, or simply move forward with your life, a qualified property division lawyer can assist you in your case.
Contact a Property Division Attorney in Illinois
Divorce and its necessary considerations can create many challenges, and you do not need to face them alone. Contact our office to schedule a free initial consultation today. We will evaluate your case and help clarify your options under the law. Call Attorney Van A. Larson at 630-879-9090 and put his experience to work in protecting your future.