Whether you and your ex-spouse are millionaires and acquired substantial assets during your marriage or you and your spouse were scraping to get by, property division is a feature common to nearly every Illinois divorce. Illinois law gives courts a great deal of discretion in distributing the marital asset of the parties and only requires the court to treat each party fairly and equitably under the circumstances. This means that while both parties must be treated fairly – a judge cannot deliberately award one party more assets because of a like or dislike for the other ex-spouse – the court is not necessarily required to give each spouse “half” of the property. SCHEDULE AN APPOINTMENT
Because divorces can take months (or, in some cases, years) to be resolved, courts will enter temporary orders that govern the parties until the divorce is finalized. Courts will usually order both parties to preserve and refrain from disposing of marital assets. This means that parties cannot: Sell marital assets without the court’s permission; Willingly allow marital property to be at an unreasonable risk of destruction or theft (i.e., you cannot put your spouse’s clothing in a box by the curb); Donate marital assets or gift marital assets to friends or family; or Destroy marital assets.
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Illinois statutes tell courts to consider all relevant circumstances in determining how to divide marital assets. These circumstances and factors include: The contribution of each party to the acquisition of the asset or increase in its value; The value of each piece of property or asset assigned by the parties; The economic circumstances of each party; Any agreements reached by the parties; and Other relevant factors and circumstances. Most property division orders are final once the court enters the order, so it is important that the court be made aware of all of the circumstances and facts present in your divorce.
