Lake County Marital Property Division Attorneys
Dividing assets during a divorce can be one of the most stressful parts of the process. At Del Re Law Group, P.C., our attorneys bring over 22 years of Lake County legal experience to protect your financial interests. We help clients save their retirement, shield their business and divide real estate through clear, strategic advocacy.
The Difference Between Marital Property Vs. Nonmarital Property
Before dividing assets, Illinois courts must classify everything you own. There are two types: Marital property and nonmarital property. Marital property includes almost all assets and debts either spouse got during the marriage. It doesn’t matter whose name is on the title or account.
Nonmarital property is what you owned before marriage, plus separate gifts or inheritances you received during the marriage. After classifying assets, Illinois law applies “equitable distribution.” This means property is divided fairly, but not always 50/50.
How Illinois Courts Divide Complex Assets In Divorce
High-value assets need careful review to avoid costly tax penalties or unfair loss. Common complex assets divided in an Illinois divorce include:
- Retirement accounts and 401(k)s: Divided using special court orders to transfer funds without tax penalties
- Pensions and investment portfolios: Reviewed for current and future value to ensure fair division
- Real estate holdings: Deciding whether to sell the home, buy out your spouse’s share or divide other properties
- Marital businesses: Dividing business assets in divorce requires accurate valuations for buyouts, profit shares or joint ownership
A Lake County marital property division lawyer can help you protect these assets and secure your financial future.
Key Factors In Illinois Property Distribution Decisions
When deciding how to divide marital property equitably, Illinois judges don’t consider marital fault or misconduct. Instead, the court reviews several money-related factors.
Key factors courts weigh include:
- How long you were married and each spouse’s age, health and job skills
- Each spouse’s money situation, earning power and ability to find work
- What each spouse did to gain, keep or grow the value of property
- Custody arrangements and whether the primary parent should stay in the family home
- The tax consequences of each property division choice
By presenting these factors clearly, we’ll build a strong case to protect your money after divorce.
How Property Division Differs For Unmarried Couples
Unmarried couples don’t fall under Illinois divorce laws, no matter how long they lived together. Family court only handles child custody, parenting time, and child support for unmarried parents. Any shared property, real estate or joint accounts must go through civil property law or contract claims instead.
Protect Your Financial Future Today
Valuable assets and complex property need experienced protection during divorce. We serve Lake County clients, including high-asset communities like Libertyville, Lake Forest, Lake Bluff and Highland Park. Located steps from the Waukegan courthouse, we respond within 24 business hours.
Call 847-625-9800 or contact us online for your free consultation.