Property Valuation and Distribution

Distribution of property is often one of the most difficult aspects of a divorce, as spouses often dispute how real property, bank accounts, investments, business interests, pensions and other retirement accounts, and other assets should be divided.

Before determining how property should be distributed between divorcing spouses, it is first necessary to classify whether the property in question is marital property, or non-marital. Typically, marital property is subject to division between the parties, and consists of property acquired by either spouse between the date of marriage and the date a judgment for dissolution of marriage is entered (with a few exceptions). Non-marital property, which is most often property acquired by one spouse prior to the marriage or via inheritance, will not be subject to division upon divorce.

Because Illinois is an equitable distribution state, courts decides how the property should be distributed on a case-by-case basis. With vast experience in litigating and negotiating property disputes, KSPM attorneys can skillfully advise clients of likely outcomes when issues of property division are in dispute.