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Tag Archives: marital property

DuPage County family law attorney, guardian ad litemChildren are impacted by a divorce just as much as their parents, but their situation is also unique due to their age. Minors cannot represent themselves in court and are often too young to understand their own best interests, which is the paramount factor in determining parental responsibility allocation. In a contested case or under other circumstances, a judge may decide to appoint an advocate for the child. Under Illinois law, the court has three options:

  1. Attorney for the Child;
  2. Child Representative; or
  3. Guardian ad Litem.

Each of these positions carries its own powers and capabilities, so it is important to understand the role of the guardian ad litem if one has been appointed for minor children in your divorce.

Guardian Ad Litem (GAL) Defined

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DuPage County divorce attorneys, non-marital property, marital homeAbsent an agreement of divorcing parties regarding their assets, a court will make an equitable distribution of property to each spouse as part of the dissolution of marriage process in Illinois. However, before dividing up the items, it is necessary to establish which assets are considered “marital” and “non-martial” under state law. While the distinction may be clear-cut for certain assets, the line between the two types of property may not be as obvious for others. There are rules that establish the difference between marital and non-marital property in Illinois, so discuss your specific circumstances with an attorney that has experience in property divisions in Illinois divorces.

Assets Included in Marital Property

The general rule is that all property acquired by spouses during their marriage is considered marital property. Hence, the property will be equitably divided throughout the divorce process. A court does not look to actual title and name associated with an asset in determining whether it qualifies as marital property. Typically, any item you come by during marriage will be included in marital property, including:

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DuPage County property division attorneys, family heirloomsDividing property can be a very stressful part of a divorce. There may be some items of sentimental value to you that you want to keep, and there are certain steps you can take to make sure that you hold on to property that is important to you in case of a divorce. If you are considering divorce and want to protect certain property, you should contact a skilled property division attorney to find out the best way to make sure your assets are protected in a divorce.

Prenuptial Agreement

One of the best ways to make sure that property with sentimental value is protected in the event of a divorce is to include it in a prenuptial agreement. If you are already married, you can draw up a postnuptial agreement that addresses the property for which you are concerned. However, even if you do not have a prenuptial or postnuptial agreement, there are other ways to protect the property.

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DuPage County property division lawyers, business marital propertyThe concept of property division and divorce are familiar to most Americans. Using the Illinois Marriage and Dissolution of Marriage Act, a court will divide property between a divorcing couple in a fair and equitable manner. Dividing a business is much more complicated than dividing a car or the value of a home. Determining the value of a business is further complicated by the fact that the value of a business may fluctuate over time, increasing or decreasing in value at any point in time. If your spouse owns a business, how will an Illinois court value the business upon divorce?

Is a Business Marital Property?

A court will first attempt to determine whether the business is marital property. If your spouse started the business before the marriage and the profits and assets are kept separate from other marital assets, then a court is likely to find the business is not marital property. This means that your spouse’s business will not be divided between the spouses. On the other hand, if your spouse started the business during the marriage, and business deposits/withdraws funds from a joint account, or if business profits are used to pay common expenses, then a court may view the business as marital property and subject the property to division.

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DuPage County divorce attorneys, divorce vocabularyDivorce is the legal process that many couples will decided to initiate under Illinois law. However, as with many legal processes, the legal jargon, or vocabulary, often prevents people from understanding the process. However, a clear understanding of the divorce vocabulary can assist people to cut through the legal jargon and understand what is happening in their divorce case.

  • Alimony or spousal support, is the legal term for money that a supporting spouse pays to his or her former spouse. The amount of the payment will be based on a number of factors, including the length of the marriage and each spouse’s income.

  • Child support is similar to alimony and is a payment from a non-custodial parent to ensure that the child has the necessities for life. However, child support is paid based on the legal idea that parents have certain rights and responsibilities, even when a child’s parents end their marriage.

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Abraham Lincoln A lawyer’s time and advice are his stock and trade. -Abraham Lincoln
Davi Law Group, LLC handles family law, estate planning and real estate matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Kendall County and Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Carol Stream, Darien, Downers Grove, Elmhurst, Geneva, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lisle, Lombard, Naperville, Oak Park, Oak Brook, Oswego, Park Ridge, Roselle, St. Charles, Villa Park, Warrenville, Wheaton, Winfield, Woodridge and Yorkville, Illinois.
Warrenville Office
Address28371 Davis Parkway, Suite 103, Warrenville, IL 60555
Phone(630) 657-5052
Fax(888) 350-9195
Wheaton Office
Address1776 S. Naperville Road, Building A, Suite 105, Wheaton, IL 60189
Fax(888) 350-9195
Chicago Office
Address321 N. Clark Street, Suite 900, Chicago, IL 60654
Phone(312) 985-5676
Fax(888) 350-9195
Joliet Office
Address58 N. Chicago Street, Suite 102,
Joliet, IL 60432
Phone(815) 582-4901
Fax(888) 350-9195
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