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Wheaton Division of Property Attorney

DuPage County Law Firm Assisting With Asset Distribution During Divorce

Warrenville Property Division Attorney

As divorcing couples work to separate their lives, one of the primary issues that they must resolve is the division of marital property. This can be one of the most contentious issues that arise during divorce, since both spouses are likely to have attachments to the possessions acquired during their marriage. At Anderson and Associates, P.C., our experienced divorce attorneys understand the legal issues involved in property division, and we work with our clients to resolve these issues in a fair and equitable manner.

Marital Property Vs. Non-Marital Property

The property that spouses own can be categorized as marital or non-marital, and only marital property is subject to equitable division in divorce. Non-marital property is any property owned solely by one spouse, including:

  • Property which one spouse owned prior to the marriage
  • Property which was given to one spouse as a gift or inheritance
  • Property one spouse acquired following a legal separation
  • Property protected by a premarital or postmarital agreement

While non-marital property is not included in the division of property between spouses, non-marital property may become marital property if it was used for a common purpose during the marriage, and any increase in value of a non-marital asset during the marriage may be considered marital property.

Allocating Assets and Debts

Any assets which were acquired during a marriage are considered marital property. Examples of marital assets include:

In addition to these assets, divorcing couples will also need to divide any debt which was incurred over the course of the marriage. These debts can include:

  • Mortgages
  • Credit card debts
  • Vehicle loans
  • Tax obligations
  • Other bank loans

Understanding the full extent of the assets and debts to be distributed between divorcing spouses can be a daunting task, especially in cases of high asset divorce. If you need help determining how to equitably divide the assets and debts in your divorce, our attorneys can review your case and work with you to reach a favorable outcome.

Consult With a Naperville Property Division Lawyer

Determining how to divide property during divorce can be a difficult, emotional process, but it is best to work together with your spouse to come to an agreement rather than leaving the matter up to the discretion of the court. During this process, you need an experienced asset distribution attorney at your side to help you understand your rights and advocate for your best interests. With over 30 years of experience handling divorce cases, the attorneys at Anderson and Associates, P.C. can help you negotiate a fair and equitable marital property settlement, and if a settlement cannot be reached, we will provide aggressive representation for you in court.

Contact a Wheaton property division lawyer today at 630-653-9400 for an initial consultation. We provide legal assistance to clients in Naperville, Winfield, Glen Ellyn, West Chicago, and throughout DuPage County.

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