How is property divided in a divorce in Illinois?
How is property divided in a divorce in Illinois?
Illinois is not a community property state – it is an “equitable division” state. That means marital property and debts need not be divided 50 / 50. Rather, the law requires property to be divided "equitably." Many cases are resolved with 60/40, 70/30 splits and some even allocate ALL marital property to one spouse.
How long do you have to be separated in Illinois to get a divorce?
six monthsHow Long Do You Have to Be Separated Before You File for Divorce in Illinois? There is a "separate and apart" waiting period intended to allow the parties to cool down and reconsider the decision to divorce. In Illinois, this is a period of six months.
What is considered marital property in Illinois?
Marital Property and Separate Property in Illinois Marital property includes most assets and debts a couple acquires during marriage. Property is separate if a spouse owned it before marriage or acquired it during marriage by gift or inheritance.
Do you have to live separately to get a divorce in Illinois?
The state of Illinois requires the spouses to live separate and apart for six months prior to filing for divorce. However, this rule can be waived under some circumstances, including mutual agreement of the parties.
