Understanding Property Division During A Divorce
We know you have many concerns as you obtain a divorce. The division of assets is a difficult process. You want to be sure you have a team of attorneys who know the law and how to approach property division to your advantage. Grotta & Associates, P.C., focuses on divorce and family law to offer our clients the best representation possible. Inexperienced divorce attorneys often make mistakes that affect the rest of your life post-divorce. Our clients appreciate our vast knowledge of how to divide marital assets.
What Is Equitable Distribution?
People mistakenly think that assets, including retirement accounts and business investments, need to be split evenly between spouses when divorcing. In Illinois courts, if the parties cannot agree, judges use equitable distribution to determine who receives what marital property.
Equitable distribution does not always mean splitting assets 50/50. The judge could award one spouse a higher percentage of marital assets than the other party if that is what a judge deems fair and equitable based on the law.
Every Case Is Different
No case is the same, and there are many factors judges in Cook County, DuPage County and Will County will consider when making a decision. Factors include the size of the estate, the needs of the parties or whether one party might “buy” the other party out of any maintenance. Another factor is whether one spouse has a large nonmarital estate.
Many people hurt themselves financially because they want to “get it over with” when they begin the divorce process. Spending the proper time and attention on these issues now will ensure the future you deserve. If you waive spousal maintenance, that decision is final and cannot be reversed.
You need to understand what you are entitled to as your marriage ends. The best way to get information about how your property will be divided is to talk with a lawyer. Call our firm to speak with attorneys who will fight for your best interest in any property division.
Hire A Top Team Of Experienced Attorneys
Based in Mokena, Grotta & Associates, P.C., has four locations, making it convenient for clients throughout the Cook County, DuPage County and Will County areas. Call for an initial consultation at 708-873-9500. You can also reach us online.