Peoria Marital Property Division Attorneys
Tazewell County Divorce Lawyers
One of the most contentious issues in a divorce is marital property division. At Essig Law Office, we can help ensure your property and assets are divided equitably according to your financial needs.
What does this mean for you?
It means that your martial assets (assets acquired during the marriage), will be subject to equitable, although not necessarily equal division based on a number of factors:
- Income earning capacity of each party
- Age of the parties
- Health of the parties
- Size of the estate
- Financial needs of the parties
Additionally, we will take into consideration your ability to maintain the assets following the divorce. For example, you may want to keep the house, but if your income cannot support the mortgage and/or property taxes, it may be better to relinquish the house to the other party — or sell the house — and take control of other assets.
We are a father-son legal team, with more than 50 combined years of experience. We will make it our priority to see that your financial well-being is appropriately cared for through fair and equitable property division settlement.
Call us toll free at 877-430-1523 for a free consultation with a Peoria martial property division lawyer.
Marital vs. Nonmarital Property
In Illinois, only marital property is subject to property division. This can be difficult to discern when assets are co-mingled, or when a marriage lasted a long time and both parties benefited from the income and investments of the household.
As your lawyer, we work carefully to distinguish between marital property and nonmarital property (anything you inherit or acquired prior to being married). We also assist in appropriately dividing 401Ks, pensions and other retirement accounts.
Free Consultation ● Contact Us Today
For a free initial consultation with an attorney at Essig Law Office, call 877-430-1523 toll free or send us an e-mail.