Joliet Property Division Lawyer

The legal process of divorce involves more than just dissolving your marriage; it is the legal transfer of ownership of all the shared property you and your spouse acquired while married. This may seem straightforward at first, but countless possible variables can complicate the process, and divorcing couples cannot always compromise.

If you are preparing to divorce and are concerned about property division proceedings, a Joliet property division lawyer is a great resource as you navigate this complicated process.

Illinois upholds an equitable distribution law for property division during divorce. Many people believe that this law requires the court to divide marital property equally, but the court’s definition of “equitable” does not always mean 50/50.

Vahey Law & Mediation, LLC offers experienced and responsive legal representation for the most difficult divorce cases. We understand that property division during a divorce can be a very contentious issue. Sometimes, the emotional tension between divorcing spouses can interfere with a smooth transfer of ownership rights in divorce. As your Joliet property division attorneys, we can help.

The team at Vahey Law & Mediation, LLC, can provide an objective and reliable point of view through all phases of your divorce. We can help you pursue the most satisfactory result possible. Our firm can provide you with excellent representation, taking the time to understand your goals during this difficult process. That way, we can help you make decisions on matters that can affect your long-term financial situation.

As of the 2024 American Community Survey, Joliet was home to 151,937 residents, making up 49,235 households. Of these households, 65% were run by a married couple, another 16% were female-headed, and 8% were male-headed. During 2024, only 51% of residents were married, with an additional 9% of male residents and 10% of female residents divorced.

Whether you are initiating the divorce process or have been served divorce papers by your spouse, your case should be heard by the Family Division of the Will County Circuit Court, located in the main Will County Courthouse at 100 W. Jefferson Street. When filing the divorce petition, you can do so with the Clerk of the Circuit Court, located within the main courthouse.

Every state upholds different statutes for divorce. While some states follow property division laws that require a strict 50/50 division of marital assets, Illinois upholds the equitable distribution law. This means that property division in divorce may not be exactly even, but the court makes every effort to be sure it is equitable. Generally, the family court of Illinois strives to ensure that there is as little need as possible for long-term maintenance or alimony, but these factors do affect some cases. When the court decides property division in a divorce, a judge can consider numerous factors to decide on an equitable distribution of the divorcing couple’s marital property, including:

• The amount of separate property each spouse owns: Separate property can include anything a spouse owned prior to the marriage, inheritance from relatives, and assets gained through their sole efforts.
• The job skills and earning capacity of each spouse: If one spouse is more capable of earning income than the other, the court is likely to award them a larger share of marital property to account for the difference.
• Each spouse’s age and overall health: The court must determine whether it is realistic to assume that each spouse is fully capable of earning a living alone.
• Any evidence of wasting or frivolous spending of marital assets: For example, if one divorcing spouse attempts to drain a shared bank account prior to the divorce, thereby reducing the other spouse’s ultimate share of their marital property, this would reflect very poorly on them during property division proceedings.

Other factors can include:

• The reasonably expected ability of each spouse to acquire new assets in the future
• The existence of a prenuptial or postnuptial agreement between the spouses
• The tax implications of the property division on both spouses
• Each spouse’s custody rights and child support rights as they have been determined through the divorce proceedings

It is important to remember that the Illinois family court system does not recognize “fault” in the divorce as grounds to award property. Therefore, if one spouse has committed a fault, like adultery, the court cannot punish them for this behavior by awarding the other spouse more property during equitable distribution proceedings. However, if one spouse misused marital property while married, such as using a shared bank account to fund an affair, the court would consider this while allocating the couple’s marital property during divorce proceedings.

Marital assets are not the only thing divided during a divorce. Liabilities acquired during the marriage are also considered part of the marital estate. These debts must also be divided equitably between both spouses. Like assets, any debts acquired during the marriage are considered joint debts owned equally by both spouses.

When handling different types of debt during a divorce, your property division attorney can help you decide on an appropriate way to split these liabilities. Not considering debts during the divorce process can lead to issues and an unfair distribution of the marital assets. How these debts are divided depends on the type of debt, including:

• Credit card debts: Regardless of whose name is on the card, debt accumulated during the marriage belongs to both spouses. These debts are likely to be distributed equitably in a similar manner to how assets are divided. Purchases that clearly only benefit one spouse may be considered their separate debt and not subject to distribution.
• Mortgages: The easiest way to handle mortgage debt is to sell the house and split the profit equally between both spouses. If one spouse retains the home, they could trade it for another similar property or other assets, including the remaining mortgage debt.
• Student loan debt: Student loans acquired before the start of the marriage are considered separate property. If the loan was acquired after the marriage began, it is considered marital property and subject to division. The judge can consider the value the loans brought to the family when deciding on an appropriate division.
• Tax liabilities: Any tax liabilities acquired during the marriage are also considered marital property and divided equitably during the divorce process. Judges often divide tax liabilities proportionally to each spouse’s income and financial circumstances.

If you discover hidden debt during the divorce process, you may still be considered liable for paying those debts. If both spouses benefited from the source of the debt, they may both be held liable for paying it. For instance, if one spouse takes out a credit card to buy new furniture or make home repairs, both spouses benefit from the debt.

If the debt was secretly acquired but only benefited one spouse, the other spouse may not be liable for repaying that debt. For instance, if one spouse opens a credit card specifically to pay for an affair partner, they are likely to be solely responsible for paying off that debt.

When marital and separate property is mixed, it is considered commingled property during a divorce. How commingled property is handled depends on whether you can prove which parts of the commingled assets are actually separate property.

Without proof, commingled property is treated as marital property and, therefore, subject to equitable distribution. For instance, if one spouse receives an inheritance and deposits it into a joint bank account, that money becomes marital property.

It is also possible for the transmutation of separate property into marital property to occur if it has been treated as marital property. For example, if you own a home prior to getting married, but your spouse moves in and contributes to maintaining the property, that property has been transmuted into marital property.

The equitable distribution system aims for fairness and logic when assigning marital property ownership following a divorce. However, the court abides by relatively strict statutes when doing so. The judge overseeing the property division is unlikely to have much knowledge of the personal dynamics between the divorcing couple. Divorce mediation is an alternative to litigation that can potentially allow a divorcing couple to draft a more personalized property division agreement.

During mediation, the divorcing spouses can meet with a neutral mediator, typically an attorney with a solid background in Illinois family law. Each session provides the divorcing couple with the opportunity to privately negotiate the terms of their divorce, including who should retain which assets.

This system effectively allows the divorcing couple to “trade” assets and property until they reach a mutually agreeable property division arrangement. This can prevent the need to liquidate assets and divide proceeds. It also ultimately allows the spouses to maintain more control over their divorce proceedings.

Mediation not only allows a divorcing couple to keep their negotiations private and reach a more personalized result in their divorce agreement, but it also saves significant amounts of time and money when handling their divorce.

Litigation is extremely time-consuming. When a couple goes to court to settle their divorce, the end result is almost entirely out of their control. Even if divorcing spouses cannot fathom the idea of peacefully negotiating with one another, it is always better for them to recognize the value of collaborative divorce mediation, along with the benefits of being open to negotiating with one another.

How Much Does It Cost to Hire a Property Division Lawyer in Illinois?

The cost to hire a property division lawyer in Illinois varies with the specifics of your divorce. Uncontested divorces are usually less costly and completed more quickly than contested divorces. Your Joliet property division attorney may charge an hourly rate to represent you or a flat fee for their services. You may also be required to provide a retainer fee before any work begins on your property division case. Exact costs can be discussed during your initial consultation.

What Assets Cannot Be Touched During a Divorce in Illinois?

During a divorce in Illinois, the only assets that cannot be touched are those that are considered separate property. Separate property usually includes any assets or debts acquired before the marriage began.

Separate property could also include any inheritances, gifts given solely to one spouse, or other assets as outlined in a postnuptial or prenuptial agreement. Commingled property can be separated if you have proof of which assets should be considered separate property.

Does My Spouse Automatically Get Half of My 401(k) in a Joliet Divorce?

No, your spouse does not automatically get half of your 401(k) during a Joliet divorce. Since Illinois is an equitable distribution state, the judge can make determinations about 401(k) allocation during your divorce. The judge could award your spouse another asset of equal value to their share of your 401(k) account, or they could determine which percentage of your 401(k) account is owed to your spouse and require that payout once the account is payable.

Is My Spouse Entitled to Half of Our Marital Home If It’s in My Name in Joliet?

Your spouse may be entitled to half of the value of your marital home in Joliet, even if it is only in one spouse’s name, but it depends on several factors. Depending on the length of your marriage, if your spouse has lived in the house for a substantial amount of time, they have as much ownership of the home, regardless of whose name is on the title or mortgage. Equity earned before the marriage began remains your separate property.

Am I Required to Sell Off Jointly Owned Businesses During a Divorce in Illinois?

No, Illinois does not require you to sell off any jointly owned or family-run businesses during a divorce. There are several ways a business could be divided during a divorce. One spouse could buy out the other spouse’s share of the business. You could offer your spouse a different asset of equal value as compensation. You could also remain co-owners of the business after the divorce is finalized. The most fitting option depends on the specific couple.

No matter how simple and straightforward your divorce may seem at first, it is crucial to understand that navigating the legal process of divorce without a Joliet property division lawyer can be a major mistake. Some assume that representing their own interests would save money on legal fees.

However, they stand to lose much more if they do not have an experienced property division attorney. A seasoned legal professional can navigate the complex legal statutes that are likely to come up in any divorce case. Your property division attorney in Joliet, IL, can see to it that all the necessary documentation you need for property division proceedings is complete and accurate.

They can also assist you in arranging mediation sessions, providing valuable legal guidance at every step as you work toward finalizing your divorce. If you are ready to consult an experienced Joliet, IL, property division attorney concerning your divorce case, contact Vahey Law & Mediation, LLC, today and schedule a consultation with our team.