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Distribution of Marital Property

In general, any and all property acquired during the course of a marriage is considered marital property and therefore subject to equitable distribution. Conversely, any and all property acquired before the marriage would be considered non-marital property. However, these are general rules, and in some instances, non-marital property can later become marital property, if marital funds are used for the non-marital property during the course of the marriage.

Understanding Distribution of Marital Property and/or Marital Home:

What is considered Marital and Non-Marital Property?

Marital property is defined under §750 ILCS 5/503(a) as all property acquired by either spouse during the course of the marriage. There is a presumption that all property acquired during the marriage by either spouse is marital property regardless of how title is held.

Non-marital property is all property listed as exempt under §750 ILCS 5/503(a).

Some of these are:

  • Property acquired by gift, legacy or descent
  • Property acquired by a spouse after a judgment of legal separation
  • Property excluded by valid agreement of the parties
  • Property acquired before the marriage
  • The increase in value of property acquired by a method listed in paragraphs (1) through (6) of the statute, irrespective of whether the increase results from a contribution of marital property, non-marital property, or a spouse's personal efforts
  • Income from property acquired through a listed exemption if the income is not attributable to the personal effort of a spouse

Marital Property is to be distributed equitably between the parties.

Pursuant to the Illinois Marriage and Dissolution of Marriage Act, a Judge shall consider the following factors:

(a) The contribution of each party to the acquisition, preservations, or increase or decrease in value of the marital or non-marital property; including the contribution of a spouse as a homemaker or the family unit.

(b) The dissipation by each party of the marital or non-marital property;

(c) The value of the property assigned to each spouse;

(d) The duration of the marriage;

(e) The relevant economic circumstances of each spouse when the division of property is to become effective, including the desirability of awarding the family home, or the right to live therein for reasonable periods, to the spouse having custody of the children;

(f) Any obligations and rights arising from a prior marriage of either party;

(g) Any antenuptial agreement of the parties;

(h) The age, health, stations, occupation, amount and sources of income, vocational skills, employability, estate, liabilities, and needs of each of the parties;

(i) The custodial provisions for any children;

(j) Whether the apportionment is in lieu of or in addition to maintenance;

(h) The reasonable opportunity of each spouse for future acquisition of capital assets and income; and

(i) The tax consequences of the property division upon the respective economic circumstances of the parties

Contact an Aurora Family Law Attorney

Ideally, it would be in the best interest of all parties to come to an agreeable resolution to your property distribution issues. However, if you find that you are constantly in conflict when it comes to how the marital property is to be distributed, you may need the assistance of an experienced divorce attorney. We will help you determine what is marital property and how it should be equitably distributed. If you have questions or need an experienced Divorce Attorney, please contact my office for a free consultation. We will guide you through the process and will develop a strategy to achieve the best possible results.

Contact an Aurora Divorce Lawyer for legal representation in any matter today.

630-901-8700

The Law Offices of David Lee is available in Kane, Kendall, Dupage and Dekalb Counties

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