Arlington Heights Property Division Attorney

Arlington Heights Divorce Lawyers Guiding You Through Property Division Challenges

Dividing your assets can be a hotly disputed part of an Illinois divorce. From separating marital and non-marital assets, to negotiating with your spouse, to litigation over certain items, there are numerous pitfalls in property division matters. The length of the marriage, the value of the property, and complex ownership structures further complicate the process.

At the Law Offices of George M. Sanders, P.C., our Arlington Heights property division attorneys are committed to helping you overcome challenges in distributing assets during the divorce process. If you have questions about your case or would like to schedule an initial consultation with an experienced lawyer, please check out our website or call 312-624-7645.

Asset Division Issues Under Illinois Law

Illinois law encourages parties to agree on a fair, equitable division of property in a divorce, but achieving an appropriate arrangement can be difficult. For one, “equitable” does not always mean “equal,” so there is the potential for a skewed asset distribution considering other factors in the divorce. Plus, reaching an agreement on all aspects of property division can be an impractical goal, even when the parties can compromise on many areas. Some components of the asset division process include:

• Classifications of Property: Before dividing assets, it is necessary to separate marital from non-marital property; only marital property is subject to distribution in divorce. The distinction is not always clear-cut, though the presumption is that assets acquired during the marriage are part of the marital estate.
• Safeguarding Assets Against Waste: Parties to a divorce must not waste or conceal marital assets from the time of filing for divorce to the entry of a final decree. Unfortunately, spouses may be tempted to dissipate or hide assets to avoid having them considered in a property division. The good news is that there are tools available to identify, locate, and return these assets to the marital estate.
• Establishing Property Value: The marital home, vehicles, bank accounts, and similar assets bear a definite dollar value, but other property can be more difficult to assess in divorce. Business ownership, goodwill, complex investment accounts, and retirement benefits often require financial experts to ascertain value. Our firm partners with professionals when necessary to place an accurate, fair valuation of marital assets.
• Property Distribution to the Parties: Once properly evaluated, the marital estate is divided between the parties. Depending on the circumstances, you may need to sell property, transfer ownership, draw up the necessary documents, and otherwise make arrangements to achieve the fair and equitable division required by law.

Our attorneys can assist with negotiating an agreement on asset division, but we are prepared to take the matter to court if necessary to protect your rights. We have significant experience in the courtroom setting, so you know your case will be in good hands.

Contact an Arlington Heights Property Division Attorney with Questions

For more information about asset distribution in Illinois divorce cases, please contact the Law Offices of George M. Sanders, P.C. We can answer your questions and provide information on your legal options after conducting an initial consultation. Our firm services clients in Arlington Heights, Cook County, and throughout the Chicago area, and we are happy to help.