Divorce lawyers in Springfield, Illinois for division of marital assets
If you get divorced in Illinois, the property you accumulated during your marriage (called the marital estate) must be divided equitably. The court seeks to divide property fairly, though not necessarily 50-50. The rules are complex but the property acquired before the marriage, including gifts and inheritance, is generally not subject to division in a divorce.
Equitable Division of Marital Property and Debt
Our marital property division lawyers focus on helping divorcing couples divide their marital estate fairly, including:
- Family home
- Cars and recreational vehicles
- Family-owned businesses and professional practices
- Stocks and investment accounts
- Retirement accounts, including IRAs and 401(k) plans
We usually seek to negotiate an equitable settlement. We have a great deal of experience in this area. But if the division of marital property goes to court, it’s impossible to guarantee the outcome. The court will consider the length of the marriage, the income, health and age of each spouse, as well as the standard of living enjoyed during the marriage.
Business Valuations in the Division of Marital Property
If you or your spouse started a business during the marriage, it’s considered a marital asset and subject to asset division. That doesn’t mean taking a chain saw and cutting the business itself in half. Our attorneys work with CPAs and other experts to determine a fair market value for the business, including property, buildings, inventory and intellectual property.
In addition, many couples getting divorced in central Illinois must divide the assets of a family farm. The highly skilled family law team at FeldmanWasser knows how to fairly value land, residences, outbuildings, and farm equipment. We’ve been helping families deal with division of complex marital property since the founding of our firm in 1987.
Dedicated to Serving Our Clients
At Feldman Wasser, we’ll keep you fully informed of the progress being made on your behalf without the need for separate status report letters. (This helps keep your costs down.)
We have a routine policy of sending our clients a copy of every letter, court document, and relevant response from the opposing party.
At the conclusion of your case, we’ll make a notebook for you of the relevant pleadings, court orders, and settlement documents. So you’ll have everything at your fingertips if you ever need it for future reference.
For experienced counsel in the division of marital property, contact the law office of Feldman Wasser. One of our knowledgeable family law lawyers will be glad to meet with you to discuss your concerns.
To determine the fair market value of a family farm and its assets, we work with CPAs and other professionals