Schaumburg Property Division Attorney

Schaumburg Divorce Lawyers Counsel You in Property Division Matters

It will be necessary to divide your assets when going through Illinois divorce, and disputes can arise in many different contexts. There may be disputes over marital versus non-marital property, the value of assets, and what constitutes a fair distribution. Especially with marriages of a longer duration, emotion can enter the picture and cloud judgment.

The Schaumburg property division attorneys at the Law Offices of George M. Sanders, P.C. are at your side to provide the advice and counsel you need when divvying up assets in a divorce. We can tell you more about your legal options after reviewing your situation, so please go online or call 312-624-7645 to schedule a consultation.

Illinois Law on Asset Division in Divorce

Under Illinois divorce law, parties are encouraged to come to an agreement on the distribution of assets. Our attorneys will prioritize your interests if you would like to work out an agreement for property division in a divorce case. We are often able to facilitate compromise by engaging in productive conversation to avoid protracted litigation over assets.

However, if you cannot reach a compromise, a divorce court will make a determination according to principles of fairness and equity. Our lawyers will fight for your rights as they pertain to the primary components of property division in a divorce case:

• Separate Marital from Non-Marital Assets: The initial inquiry in an asset distribution matter is to set aside non-marital assets; only marital assets are subject to fair, equitable division in an Illinois divorce. Gifts to one spouse, inheritance benefits, and property acquired before the marriage would be considered non-marital property.
• Protect Property: There can be some time lag between starting divorce proceedings and winding down the case. During this time, parties are prohibited from squandering assets; however, this prohibition does not always prevent misconduct. If your spouse is concealing or wasting assets, our attorneys have the experience and knowledge to bring the property properly before the court.
• Asset Valuation: Certain assets have a readily ascertainable value and division is relatively straightforward. Other properties, such as retirement benefits, interests in a business, and investment accounts are more complex. Our firm works with seasoned financial professionals to establish an accurate value for more intangible assets.
• Finalize Distribution: Once the value of the marital estate is established, there is still the task of distributing assets. Transfers of ownership are complicated when the transaction involves considerable paperwork, tax implications, and other details. We will ensure you get your fair share, including preferential tax treatment to account for property division.

Consult with a Schaumburg Property Division Attorney Today

Property distribution is central to the Illinois divorce process, so it is critical to retain dedicated, skilled counsel to represent you in court. You face an uncertain financial future if you attempt to represent yourself or go with “flat fee” services that do not put your needs first. If you are going through a divorce and would like more information on your rights in asset division matters, please contact the Law Offices of George M. Sanders, P.C. We have assisted clients throughout Schaumburg, Cook County, and throughout Northern Illinois, and we can help you, too.