PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Divorce and Property Division in Illinois

An understanding of the property division laws is essential before going through a divorce.

2012-08-08
August 08, 2012 (Press-News.org) Divorce and Property Division in Illinois

The decision to divorce is a difficult one, and conversations focused on division of property can often be the most contentious. Emotions can easily tangle with finances when attempting to have discussions regarding who can keep the family home and how savings that were carefully set aside are split.

Preparing for these conversations with a basic understanding of state law can ease the confusion associated with who gets what.

State Law: Marital v. Nonmarital Property

Illinois law views property as either marital or nonmarital. Marital property is split during the divorce, and nonmarital property remains solely with the party who owns it. Generally, property that is acquired during the marriage is considered marital property. However, there are some exceptions. Some common exceptions include:
-Any property that is given as a gift or inheritance
-Property acquired in exchange for premarital property
-Property excluded in a prenuptial or other agreement

Although an inheritance is seen as separate property, confusion often results when it is intermingled with marital property in a joint account. In such cases the court may presume the property was intended to be used as marital. The easiest way to avoid confusion is to keep inheritance and other nonmarital property in a separate account.

It is also wise to begin an individual account at the time of separation. State law requires a two-year period of separation before granting a divorce. Keeping income earned during this period in a separate account can ease the court's determination that such earnings are nonmarital in nature.

Deferred compensation can also be considered an exception to the marital property rules. Deferred compensation refers to stock options, pensions and retirement benefits that are promised at an early point in one's career but not actually granted until a later date. If the work required to receive these benefits was completed prior to the marriage, the benefits are often considered nonmarital property.

Factors Considered in Division of Marital Property

Once property is categorized as either marital or nonmarital, Illinois law states that the rules of equitable division govern. Essentially, the court attempts to divide all marital property without regard to marital misconduct. This is required by state law, as the Illinois Marriage and Dissolution of Marriage Act specifically notes that fault not be considered in decisions of property distribution.

However, there is an exception. When considering the contribution of each spouse to marital property, the court may take marital misconduct into consideration. This can occur if one party's infidelity or other form of misconduct led to a dissipation of the marital property. Common examples include gambling, excessive travel or excessive use of credit cards. The court will review any use of marital property in a manner that is unrelated to the marriage at a time when the union is undergoing an "irreconcilable breakdown" to make this determination.

An accused party can fight this accusation by defending the use of funds. If able to prove the money was used for a marital purpose, the court will not consider dissipation charges. If, however, the spouse cannot defend against these allegations and the charge is found to be accurate, the court will favor the innocent spouse when dividing the remaining property.

There are many additional factors the court considers when attempting to equitably divide marital property, including:
-Value of nonmarital property assigned to each party
-Length of marriage
-Any economic circumstances that the court finds relevant
-Presence and terms of a premarital agreement
-Age, health, occupation, employability and needs of each party
-Custody of children

A court may also favor the party who retains custody of the children when awarding the family home.

It is important to note that equitable division does not necessarily mean even. Instead the court is looking to ensure that the property is divided in a "just" matter. As a result, an economically disadvantaged spouse may receive a greater share of the property.

This can be the case in situations where one spouse assumed the role of homemaker and raised the children while the other pursued a lucrative career. This is particularly true if the divorce occurs after a long marriage and finds it unlikely that the disadvantaged spouse will find employment in the future.

Navigating the intricate laws of divorce and best presenting your circumstances to ensure equitable distribution of property can be difficult. Every situation is unique, and it is wise to seek the counsel of an experienced division of marital assets lawyer to better ensure that your rights are protected.

Article provided by Law Offices of Donald J. Cosley
Visit us at www.cosleylaw.com


ELSE PRESS RELEASES FROM THIS DATE:

Latest IRS Data Book Details Extent of Audit Activity

2012-08-08
Latest IRS Data Book Details Extent of Audit Activity People who face the challenge of a pending IRS audit turn to tax attorneys not only for advice and representation, but also for immediate peace of mind. Questions about audits, IRS timelines and strategies for repayment are important, but so is the reassurance that a taxpayer has legal rights to due process when federal tax investigators come knocking. The latest Internal Revenue Service Data Book details a wide variety of IRS activities from fiscal year 2011, ranging from enforcement and collection activities ...

$78 Million For Delayed C-Section Resulting In Lifelong Injury: A Breakdown Of PA Damages

2012-08-08
Victoria Upsey arrived at Pottstown Medical Center 36 weeks into her pregnancy. She was showing signs of placental abruption - a medical term for the placenta detaching prematurely from the lining of the uterus. An ultrasound was ordered to determine the health of the yet-unborn baby Upsey was carrying, but the out-of-date equipment was unable to locate a heartbeat. Upsey was informed that her baby had died in utero. In disbelief, she argued with her medical care team, telling them that she could still feel her baby kicking inside of her. Over an hour later, after an ...

Boating Under The Influence In North Carolina

Boating Under The Influence In North Carolina
2012-08-08
Boating Under The Influence In North Carolina With more than 37,000 miles of waterways and warm temperatures extending well through the summer months, North Carolina may be a boater's paradise. Relaxing on the pontoon after a hard week's work, drinking a beer while aboard a fishing boat and anchoring out or floating around while having couple of cocktails can lead to trouble with the law for young professionals, military personnel, college students and others who are not aware of North Carolina laws related to drinking and boating. According to Operation Dry Water, ...

Wading Through the Complex K-1 Visa Process Requires Legal Assistance

2012-08-08
Wading Through the Complex K-1 Visa Process Requires Legal Assistance For most couples, the engagement period is a happy time. Unfortunately, the visa process for fiances from different countries is complex and can add stress to a couple's marriage preparations. Fortunately, guidance from an experienced immigration attorney can help the process go more smoothly. K-1 and K-2 Visas Provide Entry for Foreign-Citizen Fiance(e)s and Their Dependents For a US citizen and his or her foreign-citizen fiance(e) to marry and reside in the United States, the foreign citizen ...

Medical Debt and Bankruptcy

2012-08-08
Medical Debt and Bankruptcy Medical debt becomes an unfortunate reality when unplanned emergencies happen. No one expects or plans to be diagnosed with a horrible illness or serious injury, but sadly these events become a reality for many Americans each year. The debt from medical expenses can push a household further into financial distress, but these undesirable circumstances can be managed. In fact, bankruptcy may provide a chance for a fresh start. Damages to Credit from Medical Debt At first glance, medical debt appears different from any other type of ...

Law Offices of Scott Warmuth Have Expanded Personal Injury, Workers Compensation Departments

2012-08-08
The Law Offices of Scott Warmuth have more than a quarter century's worth of legal knowledge and expertise in personal injury, immigration and civil litigation and is dedicated to providing quality service to their clients and upholding their civil rights. Due to the increased demands by their clients and their dedication to providing the best legal services, the Law Offices of Scott Warmuth have expanded their personal injury and workers' compensation departments. The expansion includes increased space at their San Gabriel office location and the addition of more dedicated ...

Emerging Markets: Invest in Africa, Says Currencies Direct

2012-08-08
Foreign exchange specialists Currencies Direct know better than most the countries that are outperforming the global average in terms of economic growth. Not only does it offer a currency exchange service using the latest exchange rates it also offers advice to consumers and businesses about buying abroad and making frequent international payments. It is well placed to advise on which countries in Africa offer the best investment potential and it aims to highlight the benefits of investing in this growing region. Currencies Direct points to a recent estimate from the ...

BMGI Announces Two Promotions to Support the Demand for International Growth

2012-08-08
BMGI, a global consulting firm providing people-driven solutions to companies' most pressing business problems, is pleased to announce two key promotions. William (Wes) Waldo, currently Global COO and Managing Director of North America, has been promoted to President, Americas. Wes has been with BMGI for almost 7 years. In his current role, Wes was instrumental in managing the organization through the North American recession and the subsequent productivity revival demanded by many of our clients. He is a highly sought-after speaker, a major contributor to BMGI's thought ...

Eight Great Airport Wine Bars

Eight Great Airport Wine Bars
2012-08-08
Traditionally, finding a nice glass of wine at an airport was as challenging as finding a spare outlet for your dying laptop. But savvy, nationwide airport concessionaires like HMS Host, Delaware North, and SSP along with emerging brands like Vino Volo and Beaudevin are responding to a growing demand for better wines from travelers with increasingly sophisticated palettes. Changes in taste and advances in wine technology are helping to put a little luxury back into air travel, at least when it comes to indulgences like a perfect glass of wine. Part of what's driving ...

Eclectic Combination Of Vegan Zombie Commercial Starring Radhaa Nilia, Trekkies, Green Technologies, And Environmentally Friendly Companies In Orange County Highlight Upcoming Expo

Eclectic Combination Of Vegan Zombie Commercial Starring Radhaa Nilia, Trekkies, Green Technologies, And Environmentally Friendly Companies In Orange County Highlight Upcoming Expo
2012-08-08
The Filipino American Chamber of Commerce of Orange County (www.faccoc.org) is a non-profit organization dedicated to helping small to medium business organizations grow their companies through events such as workshops, procurement opportunities, mixers, mentorship, and other programs to network and connect our members with successful business professionals. Although they are Filipino American based organization operating out of Orange County, their community membership reach consists of hundreds of business professionals from both domestic and international locations. For ...

LAST 30 PRESS RELEASES:

Study finds COVID-19 mRNA vaccine sparks immune response to fight cancer

ESMO 2025: mRNA-based COVID vaccines generate improved responses to immunotherapy

Drug combo cuts risk of death in advanced prostate cancer by 40%

ADC improves outcomes for patients with advanced triple-negative breast cancer who are ineligible for immune checkpoint inhibitors

Novel treatment combination improves progression-free survival in metastatic, estrogen-receptor-positive HER-2-negative breast cancer

ESMO 2025: Trial results show belzutifan shrinks rare neuroendocrine tumors and improves symptoms in patients

ESMO 2025: Dual targeted therapy shows promise in previously treated advanced kidney cancer patients

New generation of Antibody-Drug Conjugates (ADCs) shows unprecedented promise in early-stage disease

Sylvester Cancer Tip Sheet for October 2025

Three science and technology leaders elected to Hertz Foundation Board of Directors

Jump Trading CSO Kevin Bowers elected to Hertz Foundation Board of Directors

Former Inscripta CEO Sri Kosaraju elected to Hertz Foundation Board of Directors

Citadel’s Jordan Chetty elected to Hertz Foundation Board of Directors

McGill research flags Montreal snow dump, inactive landfills as major methane polluters

A lightweight and rapid bidirectional search algorithm

Eighty-five years of big tree history available in one place for the first time

MIT invents human brain model with six major cell types to enable personalized disease research, drug discovery

Health and economic air quality co-benefits of stringent climate policies

How immune cells deliver their deadly cargo

How the brain becomes a better listener: How focus enhances sound processing

Processed fats found in margarines unlikely to affect heart health

Scientists discover how leukemia cells evade treatment

Sandra Shi MD, MPH, named 2025 STAT Wunderkind

Treating liver disease with microscopic nanoparticles

Chemicals might be hitching a ride on nanoplastics to enter your skin

Pregnant patients with preexisting high cholesterol may have elevated CV risk

UC stroke experts discuss current and future use of AI tools in research and treatment

The Southern Ocean’s low-salinity water locked away CO2 for decades, but...

OHSU researchers develop functional eggs from human skin cells

Most users cannot identify AI bias, even in training data

[Press-News.org] Divorce and Property Division in Illinois
An understanding of the property division laws is essential before going through a divorce.