Long Grove Divorce Attorney

Long Grove Divorce Lawyer Assisting Illinois Residents

Whether you are in the middle of a divorce or are just considering it, you may have questions and concerns about the divorce process in Illinois. No matter what your questions might be, an experienced Long Grove divorce attorney at our firm can discuss your case with you and help you to move forward with the divorce process.

Dividing Marital Property in Long Grove

Under the Illinois Marriage and Dissolution of Marriage Act (IMDMA), all marital property is divided according to a theory known as “equitable distribution.” Under this theory, all marital assets and debts will be divided between the parties in a way that the court considers to be fair to both parties based on a number of relevant factors. Equitable distribution does not necessarily mean equal division, however, but that marital property will be divided in a way that is fair, according to a couple’s circumstances.

In determining how to divide marital property, the court can take into account the following statutory factors:

• Each party’s contribution to the acquisition of the property;
• Each party’s contribution to the dissipation (or loss of value) of the property;
• The value of the property assigned to each spouse;
• Duration of the marriage;
• Relevant economic circumstances of each spouse;
• Obligations of each spouse arising out of a prior marriage;
• Terms of prenuptial and postnuptial agreements;
• Age, health, occupation, and other similar information about each of the spouses;
• Parental responsibilities with regard to minor children, or custodial responsibilities;
• Spousal maintenance;
• Each spouse’s opportunity for future income; and
• Tax consequences of property distribution for each spouse.

Classifying Separate and Marital Property for Divorce Purposes in Long Grove, Illinois

Only marital property will be divided in a divorce. Accordingly, the court often needs to classify certain property as “marital,” while classifying other property as “separate” or “non-marital” property. Generally speaking, most property owned by the spouses is considered to be marital property except for the following:

• Property acquired before the marriage;
• Property acquired after the date of separation;
• Property explicitly designated as “separate” through a valid premarital agreement;
• Property inherited by only one of the spouses during the marriage;
• Property intended as a gift for only one of the spouses during the marriage.

In situations where property has been “commingled,” or when separate and marital property have been mixed, the court will attempt to trace out the separate property from the marital property. However, this can become very complicated, and it is important to have an attorney on your side during this process.

Calculating Spousal Maintenance Under the Illinois Guidelines

The IMDMA changed relatively recently to include guidelines for calculating spousal maintenance. In situations where both parties combined earn less than $500,000, the court has guidelines to determine the amount and duration of alimony.

Learn More by Speaking with a Long Grove Divorce Lawyer

Are you thinking about filing for divorce in Illinois? A Long Grove divorce lawyer can speak with you today and can address your questions and concerns. Contact the Law Office of George M. Sanders, P.C. for more information about how we service clients in Chicagoland with a wide variety of divorce issues.