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Wakenight & Associates, P.C.

1100 Lake Street, Suite 120, Oak Park, IL 60301

DuPage County | 630-852-9700

Mokena | 815-727-6144   Oak Park | 708-848-3159

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Lombard divorce lawyer for marital homes

If you are one of the lucky people who gets to live out the American dream by buying and owning your own home, you know how rewarding it can be to have a place of your own. When you are married, real estate property becomes more than a house -- it becomes a home. Dealing with your family home can be one of the toughest decisions you will make when dividing your property during your divorce. In many cases, the family home is the most valuable asset a couple owns, both financially and sentimentally.

For the most part, three basic options exist when it comes to dealing with your marital home. You and your spouse can choose to sell the home, one of you can keep the home, or you can both keep the home. Each family situation is unique, so what may be right for one family may not necessarily be right for another. 

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Oak Brook marital property division attorney

Most of the decisions you make during your divorce can and probably will affect you for the rest of your life, but one of the most important decisions you and your spouse must come to is how you will divide your marital estate. For many couples, this can be an emotional and highly contentious process because of the importance placed on their belongings and the need to have financial security after the divorce process has been completed. The way marital property is divided can affect a person’s financial stability or even their ability to retire later in life. With so much at stake, Illinois courts urge couples to try to come to an agreement on their own about property division, though, if they cannot, they will have to take the issue to court.

Factors for Consideration

If a couple is unable to reach an agreement about how their marital estate will be divided, they will have to appear before a judge so that he or she can make a determination for them. If this happens, the judge will only make decisions about marital property, or any property that was acquired after the couple was legally married but before a judgment of legal separation was entered. The judge will consider a variety of factors, including:

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