Property Division Attorney in Oakbrook Terrace, Illinois
How is marital property divided under Illinois law?
How is marital property divided under Illinois law?
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Marital property is divided in Illinois based upon an equitable distribution. Not equal but equitable. In practice, many times, that is a 50-50 division between the parties. And I like to tell people just for the beginning of your case understand that it’s likely to be an equal division. However, there’s many factors that can start to push that division from way to the other. If somebody has brought in a giant portion of the marital estate from a non-marital estate because they co-mingled it, maybe they’ll get a little bit more than the 50 percent. Maybe somebody is positioned to after the divorce accumulate a larger estate that the other person, maybe the court will give the person who’s not likely to accumulate a large estate down the road a little more of the marital estate. But, in essence, the court wants to make sure that it’s fair, that it’s equitable.
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Chicago, IL family law attorney Michael Lodermeier explains how marital property is divided under Illinois law. He explains that in Illinois, marital property is divided based on the principle of equitable distribution—not necessarily equal, but fair. In practice, this often results in a roughly 50-50 division between the parties. He advises clients at the outset of their case to understand that an equal division is likely.
However, he notes that several factors can shift that division. For example, if one spouse contributed a significant portion of a non-marital estate that became co-mingled with marital property, they may receive more than 50 percent. Similarly, if one party is positioned to accumulate significantly more wealth after the divorce, the court may award a larger share of the marital estate to the spouse who is less likely to build a substantial estate in the future.
Ultimately, he emphasizes, the court’s goal is to ensure that the division is fair and equitable for both parties.
