DuPage and Cook County Asset Division Attorney

Lawyers for Property Division in Divorce Cases in Chicago, Park Ridge, and Elmhurst

During your marriage, you worked hard to build and maintain your standard of living. When you choose to get a divorce, this should not mean an end to the life that you have established. You deserve to keep a fair share of the property and assets you and your spouse own, and you should be able to protect your financial stability after your marriage has been legally dissolved.

At Weiss-Kunz & Oliver, LLC, our attorneys are prepared to advocate strongly on your behalf to protect your rights and financial interests during your divorce. We will work with you to ensure that your assets are valued correctly and help you negotiate a fair settlement, and if necessary, we will fight to achieve your goals in court litigation.

Dividing Marital Property

In an Illinois divorce, marital property should be fairly and equitably divided between the parties. However, it is important to understand what is and is not considered marital property. The marital estate will presumably include all assets and debts acquired by either spouse during the marriage. Assets acquired before getting married or after legal separation may be considered non-marital property. Inheritances or gifts given solely to one spouse during the marriage may also be deemed non-marital property. Further, a prenuptial or postnuptial agreement may specify what assets will and will not be part of the marital estate and subject to division.

Illinois uses the principle of "equitable distribution" when dividing marital property, meaning that each spouse will have a fair share of the marital estate, but the division may not necessarily be equal or 50/50. A variety of factors may play a role in deciding how assets will be divided, including the contributions each spouse made to the acquisition or preservation of property, the parties' respective economic circumstances, whether decisions about child custody or parenting time would affect one spouse's desires to continue living in the marital home, and the tax consequences that each party may face.

Our attorneys can aggressively advocate on your behalf to help you achieve your goals regarding ownership of your marital property, including high-value assets such as real estate property or retirement accounts and pensions. We can ensure that you have considered all relevant financial issues related to the division of your marital assets and debts, and we can help you address any concerns about hidden assets or dissipation of assets by your ex-spouse. If you are a business owner, we can assist with the business valuation process and help you divide property in a way that protects your family business or professional practice.

Contact Our Cook County Marital Property Division Attorneys

The decisions made about property, assets, and debts during your divorce will affect you financially for years to come. Whether you were your family's primary income earner, shared equally in earning income and acquiring assets, or contributed to your family as a stay-at-home parent, you deserve to continue owning a fair and equitable share of the marital estate. At Weiss-Kunz & Oliver, LLC, our lawyers will work with you to make sure you understand your rights regarding ownership of your marital assets, and we will fight to ensure that you will be able to meet your financial needs while maintaining the standard of living you are accustomed to.

To learn more about how we can assist in your divorce, contact our office at 312-605-4041 to arrange a consultation. We serve clients throughout DuPage County and Cook County, including Chicago, Skokie, River Forest, Park Ridge, Lincolnwood, Burr Ridge, Elmhurst, Hinsdale, and Oak Brook.