What Property is Marital and Non-marital?

A divorce court (in Illinois) must determine which property is considered marital and non-marital (some states refer to this distinction as community or separate property) in order to distribute it properly and equitably.  Generally, property obtained by either spouse during the marriage is presumed marital property (unless a gift or inheritance by one spouse is received).  Obviously then, it would follow that property acquired before the marriage will be considered non-marital, assuming the name of the other spouse is not added as a joint owner.

Remember…just because property is listed in only one person's name does not necessarily make it non-marital property.  In some instances the way property is obtained and titled can make a big difference.  A perfect example would be if one spouse owns a home prior to the marriage, then later that home is refinanced in both spouse's names.  The home could now be considered marital property.

Needless to say, determining the difference between marital and non-marital is complicated at best.  You need the consult of a Divorce Lawyer serving Chicagoland.  Vincent Ruggiero of Ruggiero Family Law will guide you down this slippery slope and handle your divorce proceedings from start to finish.  His office is located in Lisle and serves Kane, DuPage, Will, and Cook Counties.  Call Attorney Vincent Ruggiero today at (630) 654-0044 for sound legal advice.