Like anything else in their lives when potential clients are considering filing for a divorce they often want to understand what they are getting themselves in to.  One important aspect of divorce is the division of marital property – and debts.

Normally an attorney will use a court process known as “discovery” to make sure that you have all of the information necessary for a judge to determine who gets what.

Judges must divide the “marital property” by “just proportions” after considering “all relevant factors”. Frequently, the court considers a just proportion to be 50% to each party. However, this is not always the case as the court must consider a number of factors which an attorney may present evidence on.

By statute, “Marital property” means all property acquired by either spouse subsequent to the marriage, except the following, which is known as “non-marital property”:

(1) property acquired by gift, legacy or descent;
(2) property acquired in exchange for property
    
acquired before the marriage or in exchange for property acquired by gift, legacy or descent;
        (3) property acquired by a spouse after a judgment of
    
legal separation;
        (4) property excluded by valid agreement of the
    
parties;
        (5) any judgment or property obtained by judgment
    
awarded to a spouse from the other spouse;
        (6) property acquired before the marriage;
        (7) the increase in value of property acquired by a
    
method listed in paragraphs (1) through (6) of this subsection, irrespective of whether the increase results from a contribution of marital property, non-marital property, the personal effort of a spouse, or otherwise, subject to the right of reimbursement provided in subsection (c) of this Section; and
        (8) income from property acquired by a method listed
    
in paragraphs (1) through (7) of this subsection if the income is not attributable to the personal effort of a spouse.

Now that you are aware of some of the general considerations involved in the subject of property division, contact us today to schedule a consultation so that we can give you advice specifically tailored to you.

CategoryFamily Law
Tags

© 2014 KIBLER LAW OFFICE | LAWYERS SERVING SOUTHERN ILLINOIS!

logo-footer

STAY CONNECTED WITH US: