What My Clients Asked Me this Week - Am I entitled to half of what we own?

Dividing Our Property in Divorce

It is important to know how your state treats property – whether it is a common law or community property state.

There are nine community property states in the US, where the marital property is subject to a 50/50 split in a divorce, except when there is separate property, such as property owned prior to the marriage, inheritance, or gifts given to one party.

Illinois is NOT a community property state – it is an “equitable division” state.  That means marital property and debts aren’t necessarily divided 50 / 50.  Rather, the property is divided "equitably."  Many cases are resolved with 60/40, 70/30 splits and some even allocate ALL marital property to one spouse.  In divorce mediation, you will be guided in the most equitable division of your estate – in a way that makes the most sense for you, your family and your future.