Most states, including Illinois, are considered equitable distribution states. If you are getting divorced, you have probably heard this term. It refers to how your assets will be divided between you and your spouse when the divorce is finalized. The Huffington Post explains that equitable distribution is based on the idea of the court fairly dividing up property.
It is important to note that you may not even need to have the court decide how to distribute your property because most couples are able to negotiate a settlement without a judge getting involved. So, if you negotiate terms, you will not likely have to be concerned with equitable property laws and procedures.