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Wheaton Division of Property Attorney
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Kane County Property Division Attorneys

Distribution of Marital Property Lawyers Serving Elgin and Aurora, Illinois

The allocation of marital property during the divorce process is frequently among the most challenging concerns a couple must address. For many, marriage represents the complete commingling of the lives of two individuals, and dividing assets and property in divorce can be very difficult.

At The Stogsdill Law Firm, P.C., we understand the challenges associated with the division of marital property. We have helped many clients divide marital estates of all sizes, and have the experience necessary to handle even the most complex financial situations. Our attorneys is dedicated to the protection of our clients’ rights and long-term financial security.

Defining the Marital Estate in Illinois

As an equitable distribution state, Illinois requires that a couple’s marital property must be divided fairly in divorce, not necessarily equally. However, prior to any assets being allocated to either party, the court must first determine which property comprises the marital estate and which property is to remain non-marital.

Any property acquired by either spouse during the marriage is typically considered to marital property. These assets generally include:

  • Residential homes, vacation homes, investment properties, and other real estate;
  • Cash held in savings and checking accounts;
  • Investment accounts;
  • IRAs, 401(k)s, and similar retirement savings;
  • Household furniture, artwork, and antiques;
  • Cars, trucks, motorcycles, and boats;
  • Stock options and investment shares;
  • Businesses and related interests; and
  • Jewelry and other valuables.

The presumption of marital property usually supersedes the named ownership of the asset, if it was acquired during the course of the marriage. A certificate of deposit, for example, held in the name of a spouse but funded with marital income is part of the marital estate and subject to distribution upon divorce.

Kane County Non-Marital Property Attorneys

Anything not included in the marital estate is considered to be non-marital property will is not affected the asset division process. By law, non-marital property includes:

  • Assets acquired before the marriage;
  • Inheritances and gifts to one spouse, as long as they were kept separately during the marriage;
  • Property obtained with non-marital assets;
  • Assets acquired subsequent to a legal separation; and
  • Property designated as non-marital property by a valid prenuptial or postnuptial agreement.

It may be possible for a non-marital asset to become marital property based on the manner in which it is held, used, or commingled with the marital estate. The law regarding such concerns can be very complex, and our team can help you understand how it may apply to your situation.

If you are considering a divorce and would like to know more about the division of marital property, contact The Stogsdill Law Firm, P.C. at 630-462-9500630-462-9500 to schedule a consultation. We will work with you to answer your questions and help you understand how to protect your rights throughout the process. From our office in Wheaton, Illinois, we are proud to serve clients in Aurora, Batavia, Elgin, Elburn, Geneva, St. Charles, and the rest of Kane and DuPage Counties.

  • DuPage County Bar Association
  • Illinois State Bar Association
  • American Bar Association
  • Rotary of Oak Brook
  • BV Distinguished Rating by Martindale Hubbell
  • American Institute of Family Law Attorneys
  • American Institute of Family Law Attorneys
  • Top 40 Under 40
  • DCBA Law Firm of the Year
    DCBA Law Firm of the Year 2011, 2013
  • Outstanding Service to the Office of the State’s Attorney 2006-2007
    Outstanding Service to the Office of the State’s Attorney 2006-2007
  • Outstanding Misdemeanor Prosecutor 2012
    Outstanding Misdemeanor Prosecutor 2012
  • Client's Choice Award AVVO
    Clients' Choice
  • Thank you for helping me realize how good things really are in my life. I now focus on creating happiness each and every day for me & my girls. Things are definitely looking up!

  • If you are in need of a true advocate, and you are stuck in the family law court system in DuPage then William Stogsdill should be your choice. I feel strongly about his ability and I can't say enough.

  • I just wanted to take a moment to thank you for your professional assistance and advice on my recently dismissed case. I can again look forward to being together with my wife for many more years.

  • Mr. Smit has demonstrated a high degree of loyalty and trust worthiness to his work and to his associates. Justin certainly is an asset to your Law Firm, his organization skills are second to none. I have and will continue to recommend Justin ...

  • You've clearly established a client-focus in your office -- providing your clients with the warmth and understanding they need as they go through a very difficult time. Thank you, again, for all your help.

  • Taking that step to file for divorce was probably one of the most life changing decisions I have ever made. The process is very painful and emotionally draining. I retained Robert Boyd and Justin Smit of The Stogsdill Law Firm, P.C...