Lakeview, IL Property Division Attorney

Skilled Property Division Lawyer for Divorcing Clients in Lakeview, Illinois

If you and your spouse are going through a divorce, you may have some strong feelings about the division of assets. Depending on how long your marriage lasted, you may have accumulated a great deal of shared property, which can complicate property division even further. To resolve your divorce as efficiently as possible, consider seeking legal representation from a skilled Lakeview property division attorney.

At Cameron Law Center, LLC, we are well-equipped to handle the legal complexities that come with property division. We can work closely with you to account for all of your marital property before negotiating for an ideal outcome on your behalf.

Understanding the Difference Between Marital and Separate Property

When dividing your assets in a divorce, you will have to make a distinction between marital property and separate property. Under Illinois law, any property you acquire during the marriage is likely to be classified as marital property, with exceptions made for properties given to one party as a gift or inheritance. Separate property refers to most property acquired before the marriage, but separate property can also become marital property when it is mixed together with marital funds.

Marital and separate property does not just refer to your assets, but your liabilities as well. Debts that your spouse takes on during the marriage could become your responsibility, and vice versa. The judge can divide up these debts in court, potentially leaving you with a significant financial responsibility. At Cameron Law Center, LLC, we will look out for your best interests, pursuing a solution that does not leave you unfairly burdened.

How Are Assets Divided in Illinois?

In property division cases, a divorcing couple may be able to reach a property agreement on their own or with the help of a third-party mediator. This can give you a great deal of input during the division of assets, though it also depends on your and your spouse's willingness to work together.

If you and your spouse cannot come to a mutually agreeable settlement, court intervention may be necessary. In Illinois, judges refer to a principle known as equitable distribution to divide up marital property, which prioritizes fairness without regard to marital misconduct. The judge will hear arguments from both spouses before making a final decision on property division.

While it may seem appealing to argue your case in court, you should also know that litigation can be quite costly. Before you proceed, you should consider all of your options and weigh the potential benefits of settling outside of court.

How Are Marital Agreements Used in Property Division Cases?

A marital agreement can be used to facilitate the process of property division. These agreements can dictate how your assets will be divided in the event of a divorce, which can save both parties time and money. A marital agreement will only be considered valid if both spouses sign the document voluntarily.

While prenuptial and postnuptial agreements can make your divorce much simpler, a judge could decide not to enforce an agreement if the document is deemed "unconscionable," meaning that it is grossly unfair to one party. At Cameron Law Center, LLC, we can help you draft your marital agreement and negotiate terms that satisfy both parties.

Contact a Lakeview, Chicago Property Division Lawyer Today

Trying to resolve a property division dispute without proper preparation can exhaust your time, energy, and funds. At Cameron Law Center, LLC, we can provide you with strong counsel and representation to help protect your property rights in your divorce, looking for ways to keep costs low on your end. To schedule a free initial consultation with our Lakeview asset division attorney today, call our offices at 312-489-8638 or contact us online.