May 31, 2022
The division of marital property and assets is a major issue in divorce. One of the top priorities is determining what to do with the family home. More than just property, your house is where you may have raised children, made memories over holidays with other family members, and invested large amounts of both money and time. A common question we hear from clients is, “Should I try to keep the house in my divorce?” Our Illinois property division attorneys provide guidance on your rights in regards to marital property and important questions to consider in making this decision.
Under the Illinois Statutes, any property earned, acquired, or otherwise accumulated over the course of your marriage is subject to equitable division in divorce proceedings. This applies to household belongings, motor vehicles, personal items, money in financial accounts, and the family home.
Rather than dividing everything evenly between you and your spouse, marital property division in an Illinois divorce seeks a fair division, based on the circumstances surrounding your case. These include:
All of these are major considerations when determining how to divide ownership interest in a family home during divorce.
It is important to speak with an experienced Illinois divorce attorney regarding your rights to the family home and whether it is in your best interests to seek ownership of it in a divorce. Questions to ask yourself include:
Determining what to do with the family home and other marital property is a major issue in divorce. To discuss your rights and the options available, request a consultation with The Women’s Divorce & Family Law Group. Reach out and call or contact our Illinois divorce attorneys online today.