How is property divided during a divorce in Illinois?
Walter Jackowiec III
Illinois managing attorney at Marble Law
Key Takeaways
- Illinois is an equitable division state. That means that marital property is divided fairly between parties.
- An equitable division may mean a 50/50 split of assets, but it often means things aren’t divided equally.
- In some instances, one spouse may receive more assets. For example, if someone was a stay-at-home parent for the majority of the marriage or if one spouse has a significantly higher income than the other.
- Only assets and liabilities acquired by either spouse during the marriage (known as “marital property”) are divided. Separate property remains with the respective spouse.
When getting a divorce in Illinois, marital property is divided according to the principle of equitable division. This means any assets or debts acquired during the marriage are divided fairly—though not necessarily equally—between both parties.
When deciding how to divide property, the court takes into account various factors, such as:
- Each spouse’s financial contribution to the property.
- Each spouse’s earning capacity.
- Each spouse’s parental responsibilities.
- The length of the marriage.
- Any child support.
- Parenting time.
To begin the division process, each spouse must submit a financial affidavit detailing all their assets and debts. The court evaluates these documents and divides the marital property and debts in an equitable manner. Assets such as bank accounts, real estate, investments and pensions are typically divided between the two parties.
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What property can be divided in an Illinois divorce?
When discussing property division in a divorce, it helps to understand the difference between marital property and separate property.
- Marital property generally includes any assets or liabilities acquired by either spouse during the marriage. This may include real estate, vehicles, bank accounts, investments, retirement accounts, businesses, and debts.
- Separate property typically includes property belonging to or acquired by a particular spouse prior to the marriage. It may also include gifts or inheritances that one spouse received during the marriage.
Only marital property can be divided during a divorce in Illinois. If you have concerns that you and your spouse may disagree about what property is marital and what is separate, an experienced divorce attorney can help.
How much property will I get?
Generally, marital property in Illinois is split 50/50. However, many possible variables may cause this percentage to change. For example:
- If one spouse has a significantly higher income over the other spouse, the court may allow a disproportionate division of assets as well as maintenance.
- If one person has a larger non-marital estate than the other person, the court may order a larger portion to the spouse with the smaller estate.
- If one person had been the stay-at-home parent for many years and may never be able to obtain a substantial career due to education and age, the courts may give that person a larger portion of the marital assets.
Keep in mind, every divorce is different. Nobody can predict the future, but discussing the specifics of your circumstances with a divorce lawyer may help you get a clearer picture of how the courts may divide property for your divorce case.
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