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Ronald L Bell & Associates

Libertyville Divorce Lawyer, Lake County

Former Assistant Attorney General

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Divorce Settlement Agreements | Division of Marital Property

You are here: Home / Divorce Settlement / Divorce Settlement Agreements | Division of Marital Property

October 26, 2022 by Law Offices of Ronald L. Bell

A divorce settlement agreement is a legal document that lays out the terms of a divorce and often includes details regarding child custody, property division, spousal maintenance and other relevant information in a divorce. Those considering divorce in Illinois often have questions how the division of property is determined in an Illinois divorce settlement agreement.

Illinois Division of Marital Assets

Illinois is an equitable distribution state, meaning that a court looks at the division of marital assets on a case by case basis, which may or may not result in a 50|50 split. There are several factors a court will take into consideration:

Contributions to the Marriage

The court will weigh what each spouse contributed to the marriage both economically and non-economically. Say for example, one spouse works outside of the home to earn income while the other stays home to raise kids – both are viewed as contributions to the marriage and therefore factor into the division of marital property.

Earning Capacity

Sometimes one spouse will put a career on hold to further the other spouse’s career or to hold down the fort and kids while the other spouse earns income. This may leave one spouse at a disadvantage in a divorce because they lack skills and a work history in order to obtain a well- paying job. The court will take the earning capacity of each spouse into consideration when determining the division of assets in a divorce.

Financial Resources of Each Party

Some spouses come into a marriage with significant separate property or may have received an inheritance or gift putting them in a much better financial circumstance than a spouse with fewer assets. One spouse may earn significantly more than the other. When making a property division determination, a court will factor in the financial resources of each spouse.

Length of a Marriage

Whether it is the division property or the award of spousal maintenance, the length of the marriage often factors into the equation.

Other Relevant Factors

Every situation is unique and it is important to get the information you need to put you and your family in the best position possible after a divorce. When you have questions regarding marital property division in an Illinois divorce, contact the Lake county family law office of Ronald L. Bell & Associates, P.C. for assistance at 847-495-6000.   

Category iconDivorce Settlement,  Property Division

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Ronald L. Bell & Associates P.C

Divorce Attorney

1113 S. Milwaukee Ave. Suite 204
Libertyville, IL 60048
Phone:  847-495-6000
Emergency Phone:  847-702-7502
Fax: 847-495-6001

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Ronald L. Bell & Associates P.C. represents clients in Libertyville and throughout Northern Illinois, in areas including Chicago, Naperville, Vernon Hills, Gurnee, Barrington, Buffalo Grove, Deerfield, Fox Lake, Grayslake, Highland Park, Bannockburn, Lake Bluff, Lake Forest, Lake Villa, Lake Zurich, Lincolnshire, Lindenhurst, Mundelein, Waukegan, Zion, Crystal Lake, River Woods, Deer Park, Round Lake, Palatine, Rolling Meadows, Inverness, Prospect Heights, Arlington Heights, Schaumburg, Lake County, Cook County, McHenry County, Dupage County and Kane County.

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