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Property Division
Recent Article List
Dividing Mutual Funds in Divorce – 3 Tips by Joseph Dillon, Divorce Mediator
If you’re like most divorcing couples, over the years you’ve amassed a variety of assets and liabilities; houses, cars, credit cards and, the subject of today’s post, mutual funds.
Dividing Assets in an Illinois Divorce by Joseph Dillon, Divorce Mediator
If you’re contemplating divorce and you reside in Illinois, one of the main topics you will be dealing with is dividing up your assets. Illinois is an “equitable division” state, meaning that regardless of what happened to cause the demise of the marriage, the goal is to split the assets as fairly and equitably as possible between both you and your spouse.
The Equitable Distribution of Assets and Liabilities by Joseph Dillon, Divorce Mediator
When negotiating through a divorce, one of the most important topics involves which spouse will get what property once everything is finalized, as well as who will be responsible for what portion of the marital debt.
Unusual Divorce Assets that Need Dividing by Joseph Dillon, Divorce Mediator
But other than the usual suspects, there are a number of other items that may be considered assets. Therefore when preparing for divorce or to work with a divorce financial analyst, you should also gather information on as many of these unusual divorce assets as possible.
Illinois law distinguishes between marital and non-marital property. Only marital property is subject to equitable redistribution.
If you are considering a divorce, you may be surprised by these common misconceptions. Please take a moment to review them.

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Spouses can file for a no-fault divorce in Illinois, as long as they have lived separate and apart for at least two years and state that irreconcilable differences ended their marriage. This two-year separation period may be waived "upon written stipulation of both spouses, filed with the court."

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