In Illinois, property division is not automatically calculated equally between the parties. Illinois law allows the Court to take into consideration various criteria in order to equitably divide the property. The process of dividing property involves several stages.
The first stage is the initial discovery stage. During discovery, investigation is undertaken to ensure that all property has been identified, disclosed and accounted for. Once property has been identified, the property must be classified as marital property or non-marital property.
Finally, we will determine what property needs to be valued in order to determine the total value of all property in the estate. The divorce attorneys at Katz, Goldstein & Warren regularly handle complex financial cases and are prepared to deal with issues of discovery, valuation and allocation of assets in order to achieve the most beneficial property division for our clients.