Marital vs. Non-Marital Property
 “Marital” property and marital obligations (debt) are divided by the Court and distributed to the spouses
in percentages that the Court considers fair. Marital misconduct is not a factor for property distribution. The court looks at several factors such as the
length of the marriage, contributions, including as a homemaker, dissipation of marital and non-marital assets, value of property assigned to each spouse, tax consequences, child custody and the parties’ economic circumstances.
“Non-Marital” property is not divided but is awarded to the spouse that owns the property.
If a husband or wife inherits or is gifted any property during a marriage, that property is non-marital property, and will remain the sole property of the spouse receiving any such inheritance or gift. However, if the inheritance or gift is placed in co-ownership with the other spouse, then the inheritance or gift is considered a gift to the marriage, therefore, changing from non-marital to marital asset. |
Office Locations:
Loop: 20 E. Jackson Blvd., Ste. 850 Chicago, IL 60604
South Side: 10540 S. Western Ave., Ste. 402 Chicago, IL 60643
SW Suburbs: 3333 Warrenville Road Ste. 200 Lisle, IL 60532
Will County: 16 W. Van Buren, Ste. 303 Joliet, IL 60432
NW Suburbs: 2025 S. Arlington Heights Rd. Ste. 113 Arlington Heights, IL 60005
Northern Suburbs: 228 N. Genesee, Ste. 207 Waukegan IL 60085
|
