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Three Things You Should Know About Property Division
Few people look forward to property division in a divorce. Going through your marital estate can be a tedious affair, and if you and your spouse do not agree on how your possessions should be divided, it can quickly turn adversarial. If you are unfamiliar with the process of asset division, getting representation and advice from an Illinois divorce lawyer can be a major help.
At Shaw Sanders, P.C., we have years of experience in issues of divorce and family law. Our attorneys can help safeguard your assets while letting you know of any risks ahead of time. Understanding the finer points of property division will allow you to negotiate with leverage, and you can rest assured that we will arm you with knowledge during your case.
Can Property Division Affect Spousal Support?
Property division and spousal support tend to go hand-in-hand since both of them deal with a couple’s monetary assets. If you get a greater share of marital property, the judge may consider that as a factor when deciding whether or not to award your spouse with alimony, or vice-versa.
Spousal support is based on financial need, and it is particularly common in divorces where the couples have uneven incomes. If you want to avoid paying spousal support at all costs, you could consider forfeiting a greater share of your assets to your spouse during the divorce. At Shaw Sanders, P.C., we can advise you of your options to protect your wealth.
Property Is Not Always Divided Equally
You might assume from the outset that your marital estate will be divided cleanly in half between you and your spouse. However, this is not always the case. Rather than an equal split, the courts adhere to equitable distribution guidelines dictating that all of your marital property will be divided in a fair way.
The court may consider different factors when dividing up your marital estate, such as your contributions to the marriage, the tax consequences of asset division, and your economic circumstances. At Shaw Sanders, P.C., we can propose a favorable split of assets that aligns with the court’s idea of equitable distribution.
Assets Can Be Hidden
Sometimes, your marital estate may be worth more than it initially appears. If you have concerns that your spouse is hiding marital assets like jewelry or physical cash, an attorney can help you launch an investigation to uncover lost property.
At Shaw Sanders, P.C., we can file a dissipation claim on your behalf to get compensation for any lost, destroyed, or intentionally wasted marital property. We use forensic accounting techniques to help track down your marital assets and build a case for your right to a fair remedy.
Contact a Kane County, IL Property Division Lawyer Today
If you are worried about the fate of your marital assets in a divorce, our St. Charles, IL family law attorneys at Shaw Sanders, P.C. can help alleviate your concerns. We will help you get a full picture of your property and advocate for a resolution that serves your best interests. Call us at 630-584-5550 to get started with a free consultation today.
630-584-5550