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How Is Marital Property Divided in Illinois?
Did you know that different states divide marital property differently during divorce cases? Some states, Arizona, Louisiana, Idaho and California, for example, divide all marital assets in half during divorce cases, with half of a couple’s assets going to each divorcing party. In Illinois, and in the majority of other states in America, marital property is still split up during a divorce, but it is handled a bit differently. Instead of a 50/50 split, the property is said to be divided fairly and equitably. This means one spouse could potentially receive more than the other, depending on the unique circumstances of each divorce case. How is property divided fairly and equitably in Illinois?
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