Family Law Firm with Experience You Can Trust
One of the largest concerns is how property will be distributed after the divorce. There are many rules that govern how this is determined, though. Illinois is an equitable distribution state, but this does not necessarily mean that everything will be divided equally. Keep in mind that with certain assets it simply is not even possible to slice it in half and give each person a fair share. Having an experienced divorce attorney is beneficial in obtaining an equitable property division.
Marital vs Nonmarital Property
There are two types of property in a divorce:
- Marital property
- Nonmarital property
Most property that was jointly acquired during a marriage is classified as marital property. The determination of marital property is independent of the name on a title, and both parties typically have an interest in the asset if it was acquired during the marriage.
The court does not have the authority to divide nonmarital property. There are many types of nonmarital property, but some common types include:
- Gifts and inheritances
- Property obtained before a marriage
- Property obtained from a spouse post-divorce
Finding Reputable Property Division Attorneys in Chicago, Illinois
An attorney with years of experience helping clients with property division and divorce can help you ensure that you are not taken advantage of as you proceed with your divorce. At Fay, Farrow & Associates, P.C., we have been defending our clients’ rights and helping them obtain their fair share for years. With over 95 combined years of experience, you can rest assure that you are in good hands. Also, we do not charge for an initial consultation, so you have nothing to lose by inquiring about our services. Call us today at 630.961.0060 to learn how we can guide you through the divorce process.