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Wakenight & Associates, P.C.

707 N. York Street, Suite 201, Elmhurst, IL 60126

Elmhurst | 630-528-0734

Mokena | 815-458-5660   Oak Park | 708-480-9651

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Determining Separate & Community Property During divorce

Posted on in Uncategorized

divorce is not only a hugely emotional experience, but also a very technical ne as you begin to unlink your shared lives. If you and your spouse hada particularly long marriage, determining what property is separate and what is shared might be a difficult task, which is why it is crucial to have a skilled divorce attorney assist you throughout this process. Of course, it would also be a good idea to educate yourself on these matters, so here is what you need to know about determining separate and community property in your divorce :

Community Property

Marital, or community property, is essentially everything you or your spouse acquired throughout your marriage. The paychecks you earned at work and used to pay household bills is considered marital property. Likewise, the car you bought and made payments on during your marriage is also community property.

Separate Property

Separate property is property that only belongs to one spouse and, therefore, will not end up on the chopping block when it comes to dividing property.Some of the most common types of separate property include:

  • Property a spouse owned prior to the marriage
  • A gift received by a spouse prior to or during the marriage
  • Property acquired during the marriage in one spouse's name, which was never used for the benefit of the other spouse or marriage
  • Inheritances received prior to or during the marriage
  • Certain personal injury awards
  • Property that spouses agreed to be kept separate in a prenuptial or postnuptial agreement

If you are unsure which property is community or separate, consult with an attorney .

Property Division attorney s in Illinois

Asset distribution is often a very contentious issue in divorce , which is why it is crucial to retain the assistance of an experienced Illinois divorce attorney as soon as possible. At Wakenight & Associates, P.C., our attorney s are highly familiar with state divorce laws and will helpyou protect your most valuable possessions during this difficult time.

Call us today to schedule a free consultation.

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