Division Of Marital Property
When a couple divorces, the starting point and goal of the courts is to achieve an equitable distribution of marital assets and marital debts. But what constitutes equitable distribution? To protect your financial interests during and after divorce, it is crucial to have the advice and representation of our experienced, accomplished Illinois divorce lawyers.
Barrington, Lakewood and Arlington Heights Asset Division Attorneys
At Manassa Law P.C., we have extensive property division experience and listen closely to the needs of our clients so we can reach outcomes that meet their unique goals. Our attorneys focus on ensuring that all property settlements are based on accurate information and adequately provide for our clients' needs.
To better serve our clients, we have multiple convenient office locations - Barrington and Crystal Lake - representing clients in Cook, McHenry, Lake, Kane and DuPage Counties in such towns as Arlington Heights, Lakewood and Palatine.
Marital vs. Non-marital Property
Before any equitable distribution can occur, it must be made clear what property is marital in nature and what property is considered non-marital ( separate ). We have experience determining how to accurately characterize assets in a way that stands up to scrutiny in settlement negotiations and trial court proceedings.
Property accrued or owned before the marriage is separate unless something has occurred during the marriage to change its status. This could include contributions from a spouse such as paying for a portion of the mortgage and other home expenses. If there is clear and convincing evidence, property can be transmuted (changed over) to marital even if it was owned by one spouse prior to the marriage.
Once the nature of your property has been determined, we will work to uncover any hidden assets and make sure that all relevant property is distributed equitably according to the terms of the settlement or verdict.
To learn more about your property rights in divorce, contact us for a free consultation with our Barrington marital property division attorneys.
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