Property Division in Belleville, IL
Dixon & Johnston Law Office’s Divorce Asset Division
A divorce is a stress-filled event in an individual’s life. To make it through the process, you must have superior legal representation. Dixon & Johnston Law Office covers all aspects of divorce law, but one of the most valuable is property division. Belleville, IL area clients need to be vigilant in pursuing their fair share of joint property and assets. Our legal team possesses more than enough knowledge about Illinois divorce law to successfully defend your rights and bring your case to a swift resolution. For instance, unlike some states, Illinois is not a community property state; it is an equitable division state. Because Illinois law doesn’t require equal distribution of property, it takes a skilled attorney to navigate the case.
The Four Steps of Property Division Cases
Illinois has carefully laid out factors that determine how to distribute property in the event of a dissolution of your marriage. Still, the guidelines only take you so far. Our attorneys know how to use the resources at our disposal to secure an equitable and fair property division resolution. Illinois has a fairly complex property division system. We’ll explain more during your free consultation. We work with the courts to follow these steps:
Property Identification: When you hire us, our first step is to identify all property that qualifies for distribution between the parties. Each case varies in difficulty. For instance, some couples hold considerable wealth and assets, spread across several locations. Also, in some cases, one spouse kept the other in the dark regarding earnings, holdings, and assets. We can tackle the challenge of uncovering the true scope of the marriage’s property and assets. From there, the attorneys classify the identified property and assets.
Property Classification: During this phase, we classify all property as either marital or non-marital property. In most cases, all property obtained during the marriage qualifies as marital property and items purchased before the marriage qualifies as non-marital. However, there are exceptions, and that’s where our experience is so vital. For instance, if one party places the other on the title to a home or car bought before the marriage, this non-marital property can become marital property. We can carefully pore over the assets to determine how to classify them.
Property Valuation: Next, our attorneys value all classified property. While we don’t generally value non-marital property, there are some exceptions. For instance, if one party has non-marital property valued at $400,000 and the other’s assets value at $75,000, the disparity can support the claim that the party with less property should receive a larger settlement. When we value marital property, we evaluate based on what the object would fetch on the market. Our attorneys hire experts who understand the value of specialized property, such as antiques or artwork.
Property Division: Finally, we use the findings of the evaluation, classification, and valuation phases to help the court fairly distribute the estate. Because property and assets can be complicated, hiring Dixon & Johnston Law Office is a crucial step.
H3: We Tackle Each Case on an Individualized Basis
Every divorce is as different as the individuals who seek the dissolution. Therefore, lawyers need to take the uniqueness of the case into consideration. We can do so because of our extensive experience in the field and our willingness to work tirelessly to document your assets and property from top to bottom. We understand the process is painful, but we know how critical it is. You deserve representation that successfully earns you a fair settlement. Our firm is situated to tackle even the most complicated property division cases.
H3: Protect Yourself and Your Assets by Hiring Our Team
Dixon & Johnston Law Office wants you to begin the next chapter of your life with as much security as possible. We recognize that a divorce upends your life and changes your financial and living arrangements. Divorce is even more complex and stress-filled when it involves children. We have child support and custody divisions that can work seamlessly with our property distribution division to provide a comprehensive legal experience. Our goal is to ensure you feel fairly represented. If you’re going through a divorce and want to make sure you win your fair share of your assets and property, contact our firm today for a free consultation.