When going through the breakup of a marriage, the division of marital property and assets is one of the most important parts of divorce proceedings. Agreements you enter into during this time and orders issued by the judge in your case can directly impact your financial security for years into the future. The following are important considerations to help ensure you get your fair share in your divorce settlement.
In order to get the maximum amount you are entitled to as part of any marital property settlements issued in your case, you need to ensure that all assets are included in financial disclosures submitted to the Illinois court. This includes property such as homes, cars, and personal belongings, as well as investments, retirement benefits, and money in other financial accounts.
Forbes reports that it is not uncommon for spouses to hide assets during a divorce in an attempt to avoid having to share them with their spouse. Common ways in which they may do this include:
As experienced divorce attorneys, we can help you identify when a spouse is attempting to hide assets. This involves keeping a detailed inventory of all property and accounts, reviewing both current and previous bank statements, and scrutinizing past tax returns and local property ownership records.
Guidelines for marital property division are listed under the Illinois Statutes and apply to anything bought, earned, or otherwise acquired during your marriage. Rather than simply splitting everything on an even basis, the goal is for an equitable distribution based on the specific circumstances involved in your marriage. Factors that could increase the amount you may be entitled to in a settlement include:
At Sabuco Beck, P.C., we provide the aggressive legal representation needed to ensure you get your fair share in marital property division. To request a consultation, contact our Will County divorce attorneys today.
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