Concerned About Property Division For Your Divorce?
Property division is oftentimes a contentious aspect of a divorce. Depending on how long the parties were married and the kinds of assets and property the couple owned, it can also become a difficult and complicated task to identify and value the parties’ marital assets.
Chicago Divorce Attorneys Helping Clients With Complex Property Division Matters
To learn more about how the Law Offices of George M. Sanders, P.C., can help with complex property division matters, contact us online at our Chicago property division law firm or call our law office at 312-624-7656 to schedule an initial consultation.
Asset Division Lawyers In Cook County, Illinois
Division of marital property is a process that involves many different components:
- Identifying marital property: The first step is identifying marital property, which is typically all property acquired during the marriage. Gifts and inheritances given to one spouse are generally considered separate property, while the marital home, in most cases, is considered part of the marital estate.
- Retaining as much of the estate as possible: During the period of separation and before the divorce is final, it is also important to understand that neither spouse is allowed to dissipate or waste marital assets. We will help you protect yourself from claims that you are wasting assets and also discuss with you how to handle concerns that your spouse is living beyond his or her means and damaging the marital estate.
- Evaluating assets: This is both a crucial undertaking and a complicated undertaking, especially when marital property includes family-owned businesses, a professional practice, complex securities or retirement benefits.
- Dividing or distributing the property: After assets are valued, the final step is making sure that you receive your fair share of those assets and making sure that your spouse does not receive an unfairly large share. Illinois law provides that property in a marriage is to be divided equitably. For most cases an equal division will be considered equitable, but there are situations where an unequal division is appropriate. Property division must also take into account marital debt and tax implications of any type of award.
As your Chicago property division lawyers, we will work with you to make sure that assets are properly valued and divided fairly. We will spend the time necessary to learn about your situation. We will investigate the facts of your case to ensure that property is not overlooked. Your case will not be passed down to a paralegal or a less experienced attorney. Instead, we will stand by your side during the case and work with you to protect your interests.
Contact Chicagoland Property Division Law Firm
Property distribution can be a complicated and important aspect of your divorce case. If you have questions about how our firm can work with you to understand both your current and future financial situation, contact our Illinois property division law firm or call our office at 312-624-7656 to set up an initial consultation.
We are available to help clients throughout Chicagoland, including Cook County and the surrounding areas.