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How does a court split up property in a divorce? The Law Firm of Salvi, Salvi & Wifler
How does a court split up property in a divorce? The Law Firm of Salvi, Salvi & Wifler
Learn How does a court split up property in a divorce?Illinois is called an “equitable distribution” state, meaning that when a couple divorces, their marital property must be fairly divided. The parties can reach a fair agreement regarding the division of property or can ask the judge to make a ruling on the matter. The court first determines whether property is marital or non-marital property. Non-marital property includes property that was acquired before marriage, by gift, by inheritance or subject to a prenuptial or postnuptial agreement. Then, it determines a fair distribution of property based on several factors, including the following:• Each party’s contribution to the marriage, including economic and non-economic contributions• The extent that any party wasted the marital estate• The value of each party’s non-marital estateWork with the best Family Attorrney in Lake Zurich Illinois - Contact Us Today at https://www.salvisalviwifler.com/Subscribe to our channel for more future videos at https://www.youtube.com/channel/UCO_pEByIjPiIwsfSEHLen5g#lawyer #law #attorney
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