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Who Gets What? Asset Division & Spousal Support in Illinois

Divorce isn’t just about signing papers—it’s about protecting your future. Whether you’re worried about who keeps the house, how retirement accounts are divided, or whether spousal support applies to your situation, understanding Illinois laws on asset division and alimony is essential to helping protect what’s rightfully yours.

At Masters Law Group, we’ve guided countless Illinois residents through complex divorce cases, making sure they receive a fair and favorable outcome. In this blog, we’ll break down key factors that influence property division and spousal support so you can make informed decisions about your future.

Let’s dive in.

Illinois Asset Division: How Property is Divided

Illinois follows an equitable distribution model, meaning property isn’t always split 50/50. Instead, the court looks at various factors to determine a fair division of assets and whether one spouse will receive financial support. Without proper guidance, you could risk losing what’s rightfully yours or paying more than necessary.

What Is Considered Marital Property?

Under Illinois law, marital property includes all assets and debts acquired during the marriage, regardless of whose name is on the title. This may include:

  • The marital home.
  • Bank accounts and investment portfolios.
  • Retirement accounts (401(k), IRAs, pensions).
  • Vehicles.
  • Business interests.
  • Debts, including mortgages and credit card balances.

Non-marital property, on the other hand, generally includes:

  • Assets owned before marriage.
  • Gifts or inheritances received by one spouse.
  • Property acquired after a legal separation.
  • A prenuptial or postnuptial agreement protects certain assets.

It’s crucial to properly classify marital and non-marital assets to help ensure a fair distribution. Working alongside a divorce attorney can help you navigate this issue.

How Does the Court Decide Asset Division?

Because Illinois is an equitable distribution state, the court considers several factors when dividing assets, including:

  • The length of the marriage.
  • Each spouse’s financial contributions.
  • The value of the property assigned to each spouse.
  • The economic circumstances of each spouse post-divorce.
  • Any existing prenuptial or postnuptial agreements.
  • Tax consequences of property division.

While some cases are settled amicably through negotiation or mediation, others require litigation to resolve disputes. Masters Law Group provides skilled advocacy to help protect your best interests, whether inside or outside the courtroom.

Understanding Spousal Maintenance in Illinois

Spousal maintenance, or alimony, is designed to help the lower-earning spouse maintain financial stability after divorce. While not every divorce results in spousal support, Illinois courts may award maintenance based on specific factors. Here are just a few of those factors:

  • Current and future income of each party.
  • Current and future financial needs of each party.
  • Standard of living during the marriage.
  • Length of Marriage.
  • Marital agreements such as prenup or postnup.

Illinois law provides a formula for determining maintenance in cases where combined gross income is under $500,000:

(33% of the paying spouse’s net income) – (25% of the receiving spouse’s net income) = Maintenance Amount
The recipient’s income (including maintenance) cannot exceed 40% of the couple’s combined income.

However, judges can deviate from these calculations in unique circumstances. It’s important to remember that each case is different; as such, the court considers a wide range of factors. Working alongside a trusted divorce attorney can help you navigate your spousal maintenance needs.

Types of Spousal Support in Illinois

Not all spousal support is the same. Illinois law recognizes different types of maintenance, depending on the marriage’s circumstances and the spouses’ financial needs. The type of support awarded can vary based on factors such as the length of the marriage, each spouse’s earning potential, and the financial independence goal of the lower-earning spouse.

Whether the support is temporary, long-term, or subject to modification, the court carefully evaluates each case to determine the most appropriate type of maintenance. Here are the primary forms of spousal support recognized in Illinois:

  1. Temporary Maintenance: Awarded during divorce proceedings to support the lower-earning spouse until a final settlement is reached.
  2. Fixed-Term Maintenance: Ordered for a set period, typically when the receiving spouse is expected to become financially independent.
  3. Reviewable Maintenance: Subject to periodic review, allowing modifications based on changes in financial circumstances.
  4. Permanent Maintenance – Rare but awarded in long-term marriages where one spouse cannot support themselves due to age or health.
  5. Rehabilitative Maintenance – Provided to help a spouse pursue education or job training to regain financial independence.

Modifying Spousal Maintenance in Illinois

Divorce is a complex and deeply personal matter, and financial circumstances can change over time. If you need to modify a spousal maintenance (alimony) agreement, having an experienced attorney is essential. In Illinois, maintenance awards can be adjusted under certain conditions, including:

  • If the paying spouse’s income goes down.
  • If the paying spouse or recipient spouse experiences a dramatic increase in their cost of living (e.g., unexpected illness or medical bills).
  • If the recipient-spouse cannot become self-supporting or experiences other financial strains beyond control.

If your financial situation has changed and you need to update or modify your maintenance agreement, contact the trusted divorce attorneys at Masters Law Group for skilled legal guidance.

Final Thoughts

Divorce is a challenging process, but you don’t have to navigate it alone. Whether you are concerned about asset division, spousal support, or enforcing your legal rights, Masters Law Group is here to provide skilled legal guidance and dedicated representation.

Our team understands the complexities of Illinois family law and will work tirelessly to help you achieve a fair and favorable outcome. If you are facing divorce and need experienced legal counsel, don’t hesitate to get in touch.

Contact us today to set up your complimentary consultation.

Illinois Asset Division & Spousal Support FAQs

How can I guarantee a fair division of assets in my divorce?

Our attorneys will work closely with you to identify and classify marital and non-marital property. We advocate for a fair distribution that protects your best interests, whether through divorce mediation or litigation.

What if my spouse is hiding assets?

Hidden assets can significantly impact property division and spousal support calculations. At Masters Law Group, we use forensic accountants, legal discovery tools, and subpoenas to:

  • Uncover hidden bank accounts, cryptocurrency, and offshore investments.
  • Investigate underreported income or concealed business earnings.
  • Help ensure complete financial transparency before settling.

If you suspect your spouse is concealing assets, seeking legal guidance immediately is crucial.

Can I modify or terminate spousal support?

You can petition for a modification if there’s a significant change in financial circumstances. Common reasons include:

  • Job loss or income reduction of the paying spouse.
  • Remarriage or cohabitation of the receiving spouse.
  • Retirement or health issues affecting financial stability.

Our trusted divorce attorneys can help you file a modification request, provide supporting documentation, and represent you in court if necessary.

Will I have to go to court for my divorce settlement?

Not necessarily. Many cases are resolved through mediation or negotiation, avoiding lengthy court battles. However, our award-winning attorneys are prepared to advocate for you in court if litigation is necessary.

Legal Disclaimer: This blog is for informational purposes only and does not constitute legal advice. Each case is unique, and laws are subject to change. If you are facing a legal issue, consult with the qualified family law attorneys at Masters Law Group to discuss your situation.

Illinois Property Division in Divorce

If you are approaching divorce in Illinois, you may wonder how the law treats the division of marital property. Here’s what you need to know. 

Divorce is a difficult and emotional process that can be made even more complicated by the division of property between spouses. Marital property includes more than your family home. The legal definition of an asset in a divorce is anything that has a real value. Assets can include tangible items that can be bought and sold such as cars, properties, furniture, jewelry and even cryptocurrencies such as Bitcoin. 

Illinois is an equitable distribution state, which means that marital property is divided fairly, but not necessarily equally, between the spouses. This is in contrast to community property states, where marital property is divided equally between the spouses.

The Strain of Property Division on Divorcing Couples

The division of property that you and your spouse have shared for years can seem especially tricky, often introducing fresh grievances or re-igniting old ones in the process. Here are some of the reasons why property division can be difficult in divorce:

  1. Emotional attachments to property: Couples may have emotional attachments to certain properties, such as a family home or heirloom, which can make it difficult to negotiate a fair division.
  2. Disagreements about what is fair: Spouses may have different ideas about what is a fair division of property. For example, one spouse may argue that they should receive a larger share of the marital property because they earned more money, while the other spouse may argue that they should receive a larger share because they contributed more to the household.
  3. Complexity of assets: Couples may have complex assets, such as businesses, investments, or retirement accounts, that are difficult to value and divide.
  4. Difficulty agreeing on values: Even when the assets are not complex, it can be difficult to agree on the value of the assets, especially if they have appreciated or depreciated in value since they were acquired.
  5. Legal complexities: Property division in divorce can be a legally complex process, and couples may struggle to understand the relevant laws and regulations.
  6. Fear of financial instability: Divorce can have a significant impact on a person’s financial stability, and couples may be afraid of the financial consequences of a property division that they perceive as unfair.

Equitable Distribution in Illinois

As mentioned, Illinois is an Equitable distribution state, meaning that a court will divide the marital property in a way that is fair and just, taking into account various factors such as:

  • The contributions each spouse made to the acquisition, preservation, or increase in value of the marital property;
  • The length of the marriage;
  • Primary caregiver status for the child/children;
  • The economic circumstances of each spouse at the time of the property division;
  • Any prenuptial or postnuptial agreements between the spouses;
  • The age, health, and occupation of each spouse;
  • The needs of each spouse; and
  • Any other factors the court deems relevant.

Marital property in Illinois includes all property acquired by either spouse during the marriage, regardless of how it is titled, except for property acquired by gift, inheritance, or a property acquired in exchange for property acquired before the marriage.

Non-marital property, on the other hand, includes property acquired by a spouse before the marriage, property acquired by gift or inheritance, and property acquired in exchange for non-marital property.

Tax Consequences

You will want to be sure to understand how the decisions you make about the division of your property will affect the taxes owed by both you and your spouse.

For instance, if you sell your home or other assets during your divorce, you may be required to pay capital gains taxes. Understanding and addressing tax-related issues will help you avoid financial problems that may arise after you complete your divorce.

Community Property Laws in Illinois

Illinois is not a community property state. Community property states, such as California and Texas, divide marital property equally between the spouses regardless of the contributions each spouse made to acquiring or maintaining the property.

In a community property state, property acquired by either spouse during the marriage is considered community property, and each spouse has an equal interest in it. This includes income earned during the marriage and any property acquired with that income.

Illinois and other equitable distribution states, on the other hand, divide marital property in a way that is fair and just based on the factors discussed above.

Hidden Assets

It is not uncommon for parties to hide their assets from their ex’s and the courts to help swing the distribution of property in their direction.

When it comes to property division, it’s important to make a list of all assets and debts that you and your spouse share. This includes assets that are solely in your name or your spouse’s name. This involves everything from retirement accounts and investments to real estate and personal property. Having a detailed inventory of your assets will help your lawyer build a stronger case and ensure that you receive a fair settlement.

It’s also crucial to be honest with your lawyer about any challenges you may face during the divorce process. This includes concerns about child custody or your spouse hiding assets or income.

Getting the Legal Help You Need

If you are facing divorce in Illinois, you might decide you want an attorney to help you with your case. It is important to get an experienced lawyer when discussing property division after divorce for several reasons:

  1. Knowledge of the law: A divorce attorney will have a deep understanding of the laws and regulations that govern property division in your state, including the factors that a court will consider when dividing marital property. This knowledge will be invaluable in helping you negotiate a fair and equitable division of property.
  2. Objectivity: Divorce can be an emotionally charged process, and it can be difficult to negotiate property division when you are feeling hurt, angry, or resentful. A divorce attorney can provide an objective perspective and help you make decisions that are in your best interests.
  3. Protection of your rights: A divorce attorney will work to protect your rights and ensure that you receive a fair division of property. They will help you identify assets that may be subject to division and make sure that those assets are valued correctly. They will also help you understand your options for negotiating a division of property, including mediation and litigation if necessary.
  4. Avoiding mistakes: Property division can be a complex process, and it is easy to make mistakes that could have long-lasting financial consequences. A divorce attorney will help you avoid these mistakes and ensure that you are making informed decisions about your property division.
  5. Negotiation skills: A divorce attorney will have strong negotiation skills that can be invaluable in reaching a fair and equitable division of property. They will work to find creative solutions to complex property division issues and help you achieve your goals.

An experienced divorce attorney can help you navigate the complex process of property division and ensure that you receive a fair and equitable division of property.

Conclusion

Divorcing couples may struggle with property division because of emotional attachments, disagreements about what is fair, complex assets, difficulty agreeing on values, legal complexities, and fear of financial instability. It is important for couples to work with experienced divorce attorneys who can guide them through the process and help them reach a fair and equitable property division agreement.

If you are going through a divorce in Illinois and have questions about property division, contact the award-winning attorneys at Masters Law Group. Our highly experienced divorce lawyers are ready to guide you through the process and ensure that your rights are protected.

Set up your consultation here today.