Kane County Division of Assets Attorney

Divorce Lawyer Assisting Clients With Property Division in Aurora, Naperville, and Batavia

Over the course of a marriage, a couple will typically acquire a variety of assets, such as real estate, vehicles, savings accounts, and retirement funds, as well as liabilities like credit card debts and mortgages. When spouses decide to end their marriage in divorce, determining how to divide these assets and debts can be a complicated matter.

At Swearingen Law Offices, we work personally with our clients to help them understand how Illinois statutes govern the issues that must be resolved during divorce, including how to divide marital property. Attorney Brad Swearingen has more than 38 years of experience providing clients with representation in divorce cases, and he will work closely with you to help you reach a favorable resolution when dividing assets and debts.

Equitable Division of Marital Property

Illinois law states that marital property should be divided between divorcing spouses in "just proportions." Rather than splitting property in half, it should be distributed between spouses in a fair and equitable manner. Marital property includes any physical possessions, real estate, business interests, or financial assets acquired by the spouses during their marriage.

Non-marital property which was acquired by one spouse prior to the marriage, after legal separation, or by gift, legacy, or descent is not subject to equitable division. However, marital and non-marital property may become commingled, such as when one spouse contributes non-marital funds toward the purchase or maintenance of a marital home or when one party contributes effort to a non-marital home. Depending on the circumstances, commingled property may be converted to marital property, or a spouse may be reimbursed for their contribution to the other spouse's non-marital property.

While spouses are often able to agree on the division of property through the process of mediation, if they are unable to reach an agreement, the court will decide how to divide property. In these cases, courts will consider several factors, including:

• Each spouse's contribution to the acquisition and upkeep of property.
• The value of non-marital property allocated to each spouse.
• The duration of the marriage.
• Each spouse's economic circumstances, including their age, health, income, employability, liabilities, and needs.
• Whether the spouse who is granted primary custody of the couple's children wishes to continue living in the marital home.
• Whether either spouse has obligations from a prior marriage.
• The tax consequences of property division for each spouse.
• Any agreements between the spouses, such as a premarital agreement.
• Whether property will be allocated to either spouse in lieu of or in addition to any spousal maintenance.
• Whether either spouse has dissipated the value of any marital assets.

Contact a North Aurora Property Division Attorney

Spouses often acquire a large amount of assets and debts during their marriage, and determining how to equitably divide this property can be a complicated undertaking. At Swearingen Law Offices, we will take the time to help you fully understand the benefits and consequences of property division and advocate for your interests as you work to reach a resolution in your divorce. Contact an Aurora divorce lawyer today at 630-820-8877 to schedule a consultation. We serve clients in Naperville, West Chicago, Batavia, Montgomery, Warrenville, and throughout Kane, Kendall, and DuPage Counties.