Splitting Up the Pie
Whenever I am working on the division of assets and debts for my DuPage County clients, I do everything I can to make sure the final divorce decree is equitable. Equitable does not necessarily mean exactly "equal." Equitable means "fair."
I pride myself on focusing on fairness in divorce negotiations. Being fair helps everyone reach a resolution more quickly, making it easier for the parties to work together as co-parents after the divorce is final. From my Oakbrook Terrace law office, I excel at finding equitable settlements that both parties can agree to. Super Lawyers named me as an Illinois Rising Star in 2010, an honor given to only 2.5% of lawyers with ten years of experience or less.
Assets and Debts to be Divided
Illinois is an equitable distribution state, which means that not all assets and debts of the spouses are divided, only the marital assets and marital debts that are shared. Nothing that was earned or owned before the marriage is divided in a divorce unless it has been transmuted into marital property.
Property division in a divorce usually includes things like:
- Real property — including principal residence, vacation homes and any interest in property acquired during the marriage
- Vehicles — including cars, motorcycles and trucks, as well as boats and aircraft
- Personal valuables — Jewelry and artwork
- Savings — including pensions, military pensions and insurance policies
Property division also includes the division of various debts:
- Home debt
- Credit card debt
- Car debt
- Personal loans
The goal at the beginning of the property division process is to get full disclosure from both parties. Once we know the full extent of the marital estate, we work on splitting up that pie in the most equitable manner possible.
Focused on Quick, Equitable Settlements
I believe that quick, equitable settlements are far more effective than a long, drawn-out battle. This approach is far better for the children and for everyone else because it avoids the time, cost and acrimonious nature of a divorce trial. My main focus as an attorney is to settle things quickly before trial whenever possible.
I offer free consultations regarding property division issues in a divorce. Call my Oakbrook Terrace office or send me an e-mail for a free consultation.
