Kendall County Division of Assets and Property Attorneys
Division of Assets and Property Lawyers in Plainfield and the Surrounding Communities
Dividing assets and property can be one of the most challenging aspects of getting a divorce. Not only can the process be logistically difficult, it can easily become contentious with each party seeking the upper hand. At the Kendall County divorce law firm of Goostree Law Group, we are skilled in handling division of assets and property matters. Our attorneys prioritize our clients’ interests and objectives. We are extensively experienced in sorting through complex financial portfolios and negotiating/litigating successful resolutions.
Marital Versus Non-Marital Property in Kendall County
The first step in diving assets and property in a divorce is classifying which assets are marital property and which assets are non-marital property. In Illinois, most property that is acquired during the marriage is considered marital property. Some exceptions do exist, however, such as:
- Inheritance left to one spouse;
- Gifts given to one spouse;
- Property excluded from division by a prenuptial or postnuptial agreement;
- Property acquired using other non-marital property; and
- Property acquired after a legal separation.
Illinois is an equitable distribution state, which means that all marital property is subject to an “equitable” division in a divorce. Assets do not have to be split 50-50, rather the court seeks a “fair” distribution considering numerous factors. Properly classifying martial property and non-marital property is essential as is obtaining a true value for all assets. Our attorneys work with financial experts to ensure all property is properly valued including:
- Real estate holdings;
- 401Ks;
- Retirement funds;
- Stock options; and
- Business interests.
We are experienced in handling complex high-asset divorces as well as divorces featuring simpler financial circumstances. We are also experienced in handling divorces involving division of debt and uncovering hidden assets. Our attorneys take a long-term view dividing clients’ assets, and we seek ensure our clients’ future financial security.
If you are going through a divorce or soon will be and are in need of experienced property division representation, contact us at 630-882-5668 to schedule a free consultation. One of our divorce attorneys will meet with you and discuss the circumstances of your divorce and how we can assist you. Our firm works with clients throughout Kendall County and the surrounding areas.
