Orland Park, IL Divorce Property and Asset Division Attorneys
Experienced Property and Asset Division Lawyers Serving Will County
Dividing property can be one of the most challenging aspects of dissolving a marriage. In high asset divorces or divorces involving a variety of assets, disentangling a marital estate and finding an equitable distribution is a complex process. At the Illinois divorce law firm of Kezy & Associates, we are skilled in handling divorces involving all types of marital assets. Our Will County divorce lawyers strongly advocate for our clients’ financial interests and strive to ensure you leave your marriage in a solid financial position.
Marital Property Versus Separate Property in Illinois
The only property subject to division in a divorce is marital property. In general, marital property is any property that is earned or acquired during the marriage. There are exceptions to this rule, however, including:
- Property gained through an inheritance;
- Gifts received by one spouse;
- Property acquired by one spouse using separate funds (and not used for the benefit of the marriage);
- Certain parts of a personal injury award (i.e. pain and suffering awards); and
- Property exempted from the marital estate via prenuptial or postnuptial agreement.
Classifying which assets should be included in the marital estate can be a source of contention in some cases. We are skilled in advocating for our clients’ best interests in both including and excluding such assets.
Equitable Distribution of Property and Assets in Illinois
As an equitable distribution state, Illinois law does not require assets to be split equally in a divorce. Assets must, however, be distributed in a way that is fair and equitable. The easiest way to accomplish this task is through negotiation. When lawyers negotiate which spouses retain which assets, both spouses have more control over the outcome of their marital estate. Allowing the court to determine what happens to your marital property can result in a judgment that is not satisfying to either party. With over 25 years of experience negotiating asset division matters, our Will County divorce lawyers are skilled in effectively advocating for our clients.
Sometimes, negotiations are unable to resolve disputes related to asset distribution in a divorce, and litigation is required. We are skilled litigators with a long track record of obtaining favorable results at trial. We seek the most efficient resolution possible to save our clients time, expense and aggravation.
If you are going through a divorce or considering filing for a divorce, contact us at (708) 518-8200 to schedule a free consultation to discuss your situation. We will walk you through what you can expect from your divorce and explain how the law will likely be applied to your specific circumstances. Our firm handles cases throughout Northern Illinois, including Will County and the surrounding areas.