Wheaton Divorce Attorneys Assist With Property Division
In Illinois, property is divided according to the law of equitable distribution. This means that a couple's property and assets are not necessarily divided 50-50 throughout the course of a divorce. The assets and property accumulated during the course of the marriage are subject to equitable distribution, meaning divided as fairly and equitably as the court deems.
At the law office of Andrew Cores Family Law Group, our DuPage County divorce lawyers are dedicated to helping individuals through the marital property division process. We structure our advice and guidance in order to help clients see the short term and long term benefits and drawbacks of divorce asset protection and property division.
Homes, property, and physical possessions are not the only types of assets that are subject to division. Below are just some of the types of monetary assets and accounts that may be divided upon a divorce:
- Pensions
- Retirement accounts
- Stocks and bonds
- 401K
- Social Security disability benefits
- IRA
- Health insurance
Your debt may also be subject to division
The debt that is accumulated by the two parties throughout the course of a marriage is also part of the division process. This eliminates the possibility that the burden of carrying the debt will be placed on one party. We strive to help clients understand this type of marital debt division and how it may factor into other aspects of the property division. Our firm can also explore the possibility that you may not be liable for the debt if it was one that was incurred by the other spouse for that spouse instead of for the both of you, such as credit card debt.
For additional information regarding your property division matters, call the DuPage County or Kendall County, Illinois law offices of Andrew Cores Family Law Group at 630-871-1002 or contact us through this Web site with any questions you may have for us.
