Division of Marital Property

In Illinois, all property acquired after the marriage and before entry of a judgment for dissolution or declaration of invalidity, including nonmarital property transferred into some form of co-ownership between the spouses, is presumed to be marital property regardless of how title is held unless the property falls within one of the exceptions provided by the law. The court is to divide the marital assets in just proportions upon the dissolution of the marriage without regard to the identity of the spouse holding legal title. The Illinois law does not require an equal division of marital property, but an equitable division. Thus, dividing the marital property in “just proportions” under Illinois laws may result in a disproportionate allocation between the spouses. Typically, the court considers the work experience of both spouses, their educational background, contributions to the marriage, health, and other factors.