The idea that spouses must divide all of their property as a result of a divorce is a misnomer. There are two classifications of property: marital property and non-marital (separate) property. Only marital property is subjected to the laws of equitable distribution in a divorce.
Barrington, Crystal Lake and Lakewood Property Division Attorneys
At Manassa, Neugebauer, Calzaretta & Stassen, P.C., we work with men and women during their divorce to ensure their financial interests are protected in the division of their property. Our accomplished lawyers have extensive experience resolving these matters through settlement negotiation and trial. We are dedicated to listening to the needs of our clients and pursuing outcomes that meet their unique goals.
To better serve our clients, we have two convenient office locations - Barrington and Crystal Lake - representing clients in Cook, McHenry, Lake, Kane and DuPage Counties in such towns as Arlington Heights, Lakewood and Palatine.
Division of Nonmarital Assets in Illinois
Assets accumulated prior to marriage or owned by only one of the spouses prior to the marriage are considered separate or nonmarital assets. These assets are not subject to equitable distribution, which is reserved for only marital assets and debts. However, the court can consider a party's nonmarital estate in deciding how to equitably divide the marital property.
Nonmarital assets can become marital assets throughout the course of the marriage if it can be clearly demonstrated that the other spouse contributed significantly to them. For example, if one spouse enters the marriage owning a home and his or her spouse contributes to the mortgage and property taxes during the marriage, the spouse may now claim a share of the asset.
Contact Manassa, Neugebauer, Calzaretta & Stassen, P.C.
As you approach your divorce, our experienced attorneys can help you understand your rights and responsibilities while protecting your financial interests. Contact us for a free consultation with our Barrington nonmarital property attorneys.