Protecting Your Rights In Property Division
For most people, divorce comes with a heavy financial price: the division of assets you accumulated during your marriage, including property that you may have thought was yours to keep. To come out of your divorce with your assets as intact as possible, it’s important to seek advice from an experienced lawyer as soon as possible.
At Blacha Law Office, we help business owners, professionals and others in Naperville, Joliet and the surrounding areas achieve a fair division of marital assets and debts. If a divorce is in your future, we offer a free initial consultation to discuss your case.
Division Of Assets In Divorce
In Illinois, marital property is subject to equitable division between you and your spouse. Separate property — including those assets you owned before your marriage, and gifts and inheritances received during your marriage — is yours to keep. However, the line between marital and separate property can become blurred.
For example, you may have owned real estate or a business before your marriage, making it separate property. However, that does not mean that your spouse will not receive a portion of those assets in your divorce. If your business increased in value during your marriage, that increase may be considered marital property. If you used marital assets to improve or make payments on a house you owned before your marriage, a portion of your house may be considered marital property.
For many families, retirement savings are the most significant assets that need to be divided. Even though a 401(k) or pension plan is in your name, the portion accumulated during your marriage is marital property.
Sometimes, financial records have a way of disappearing on the cusp of a divorce. Spouses may hide assets, and drain savings and checking accounts. We will take every step that is necessary to protect your financial interests in divorce.
Let Us Help You Transition To The Next Phase Of Your Life
To discuss division of marital property with an attorney, call 630-283-1987 or email the firm. We have offices in Naperville and Joliet, and we serve clients in DuPage and Will counties. We are also fluent in Polish.