For those who are seeking a divorce in the state of Illinois, the prospect of dividing up your property can seem overwhelming. This is understandable, but not necessary. It is possible to enlist qualified help to assist you in these tense negotiations, and help each party reach an acceptable compromise.
Illinois is not among states that use community property laws to determine how property gets divided, so the division of assets may not be right down the middle. While this may seem unfair at first, it can actually be extremely beneficial for all parties, especially when you are attempting to keep negotiations civil.
Factors that may play a part in how your property is divided may include the length of your marriage, the level to which each of you contributed to the value of the household, tax issues that may arise for either of you by taking or giving a piece of property or any other obligations either spouse may have to previous marriages and offspring.
On a personal level, it is important to determine not just what you want to keep or give to your spouse, but also why. It may feel good to try to negotiate away something that is dear to your spouse out of spite, but doing so may come with responsibilities of its own — maintenance obligations, tax obligations and more.
The important thing in any property division case is to ensure that you are in a good place to move on from this relationship and lead the best life you can apart from it. If you are ready to approach property division with an eye to a fair and comprehensive settlement, the guidance of an experienced attorney will help you close the books on this matter as you look to the future and a fresh start.
Source: Findlaw, “Illinois Marital Property Laws,” accessed Nov. 18, 2016