Naperville, IL Property Division Attorneys

Experienced Property Valuation and Division Lawyers in DuPage County

At the end of your marriage, you and your spouse will have to divide up the shared property that you have accumulated. This can feel like an insurmountable obstacle, but with the help of a skilled Naperville asset division lawyer, you can negotiate for an optimal outcome.

The Davi Law Group is a leading family law firm representing Illinois residents in divorce proceedings and handling property valuation and division matters. When marital property is divided between divorcing parties, it is important to know the true value in order to reach an equitable disposition. Our attorneys are skilled in all aspects of divorce and work with top professionals such as real estate appraisers, accountants, and financial analysts to assign accurate values to marital assets.

Dividing Marital Property in Illinois

In Illinois, property acquired during a marriage is considered to be owned by both parties and is subject to equitable distribution. The Illinois Marriage and Dissolution of Marriage Act instructs courts to examine several factors for determining the equity, or fairness of the division such as:

• The income and property of each party;
• The needs of each party;
• The earning capacity of each party;
• Any impairments to earning potential;
• The standard of living established in the marriage;
• The degree of complexity of divorce issues;
• The accessibility of relevant information; and
• The amount paid in attorney's fees.

In addition to factors mentioned here, courts will consider any other information that will help produce a just and equitable decision. Our team will review ledgers, examine appraisal data and gather every piece of evidence that will properly represent the true value of the assets to be divided. Our lawyers have the experience and skill to get a detailed accounting of your marital estate, advocating for a favorable split of property.

Tax Considerations for Marital Property Division

Initially, you may not think about how property awards will affect your taxes, but we are consumed with the possible impacts to your life. We work hard to protect our clients from financial hardships such as exorbitant tax bills that result from large asset awards. When we work with our clients, we are focused on understanding the way they wish to maintain their lives and craft a plan that follows suit. After all, what good is receiving a home if you do not have the resources to maintain the property? We will work with financial industry professionals to help you arrive at decisions that make the most sense for how you live now and help you prepare for the future. If you have children, we will work hard to achieve a favorable outcome that maintains the financial stability and care they have come to appreciate.

How Are Disputes in Property Division Resolved?

Not all asset division cases have to end up in court. You and your spouse may benefit from reaching a settlement outside of court with the help of a knowledgeable attorney. You could also try mediation, where you and your spouse can negotiate for a settlement with the help of a neutral third party. At the Davi Law Group, we are ready to assist you whether you choose litigation or another form of dispute resolution.

Meet With a Naperville, Illinois Property Division Lawyer

If you are initiating or responding to a request for divorce, let us help you get organized and explain the process of property division. We can meet with you for a no-cost initial consultation, which has a value of up to $325.00. Contact our firm today to schedule an appointment at our Plainfield, Naperville, Wheaton, Chicago, or Joliet, Illinois office. We look forward to assisting you and your family.