Best Property Division Attorneys in Chicago

If you are facing a high-asset divorce or are concerned that you may lose important assets in the dissolution of your marriage, you are likely looking for the best property division attorneys in Chicago. Look no further than the attorneys at Sanders Family Law. Property division cannot properly happen in a divorce unless specific steps are taken. We can help you ensure that your property is accounted for and divided according to Illinois divorce laws.

How is Property Divided in Illinois Divorces?

In a divorce, the courts look at property as marital or nonmarital. Marital property is property that was acquired by either spouse during the legal marriage. Nonmarital property is property that either spouse had before the marriage, or that was obtained solely by them as an inheritance or a gift. By hiring the best property division attorneys in Chicago, you are doing all that you can to receive what you should in your divorce. Our attorneys can help you make sure your soon-to-be-ex-spouse is not hiding assets and that everything is valued correctly. 

Illinois is not a community property state; instead, it is an equitable division one. As such marital property and debts are not necessarily divided equally. The courts are prohibited from considering any marital misconduct when dividing assets and debts. For instance, if your spouse was unfaithful to you, they cannot use that as a reason to leave them with more debts and fewer assets. The property will still need to be equitably divided.

Factors that the court will determine when dividing property include:

• The contribution of each party to the increase or decrease in value of the marital property
• The wasting or hiding of assets
• Duration of the marriage
• The value of the property assigned
• Relevant economic circumstances
• Pre and postnuptial agreements
• Prior marriages
• Situational status
• Future income
• Custody
• Maintenance
• Taxes

What is a High Asset Divorce?

While many married couples will have assets such as a home, vehicles, retirement accounts, and credit card debts, others will have assets that are more complex and higher in value. High asset divorces include assets like:

• Closely-held business interests
• Multiple properties
• Stock options
• Stock voting rights
• Deferred compensation
• Assets held in a trust
• Real estate partnerships
• Tax benefits such as a capital loss carry-forward

Whether you have a high asset divorce or not, you need the best property division attorneys in Chicago to ensure that you receive what is rightly and equitably yours in your divorce. 

Hire the Best Property Division Attorneys in Chicago

It may feel like you are losing a lot in your divorce, your marriage, your memories, a partner, and time with your children. Don’t risk losing the assets that could be yours by not hiring experienced attorneys who will fight for you. When you come to Sanders Family Law, you can be assured you have hired the best property division attorneys in Chicago.

Are you ready to book your property division consultation and find out how we can help you? Contact us today to learn more.