Equitable, Not Equal Splitting Assets in the Windy City
Illinois is not a community property state, where couples are required to split all assets they own equally between them — instead, the division of assets is equitable rather than equal. This means that the court takes into consideration each party’s current situation and future needs. Our state divides property into two categories: marital and non-marital. The distinction is critical for those going through divorce to understand because marital property is equitably divided, whereas non-marital property is not . Here are the factors determining which category property falls into as defined by state divorce law.
in Illinois, both parties cannot dispose of this property in any way without the court’s permission. This allows the court to decide how this property should be divided without undue interference from either spouse. Some examples of marital property are: • Bank and investment accounts • Home furniture and decorations • Business interests • Pensions • Property purchased during the marriage • Retirement plans • Cars, trucks, boats, motorcycles, and other vehicles WHAT IS NON-MARITAL PROPERTY? Non-marital property refers to assets owned by one spouse individually. Non-marital property is often acquired before marriage or through gifts or inheritance specifically to one spouse. Additionally, prenuptial agreements can classify property that would otherwise be considered marital as non-marital, and it can include assets acquired by a spouse from a legal judgment or acquired in exchange for other property. The judge considers these situations during asset division, and the parties can contest them in divorce proceedings. We know this process can be daunting and are here to assist however we can. No one should have to experience a divorce without strong legal counsel on their side. If you would like help navigating the intricacies of your divorce proceedings or support on other family law matters, you can call us at 312-488-1938 to schedule a free consultation with our expert legal team.
WHAT IS MARITAL PROPERTY? Marital property refers to all property, including debts and other obligations, acquired by either spouse during their marriage and before the declaration of invalidity officially dissolves the marriage. To ensure this property is divided equitably, once either spouse files for divorce TAKE A BREAK
Grilled Red Curry Beef Satay With Peanut Sauce
Ingredients: • 1 1/2 lb flank steak • 1/2 cup unsweetened coconut milk • 2 tbsp lime juice • 1–3 tbsp Thai red curry paste • 1 tbsp fish sauce
For sauce: • 1 cup unsweetened coconut milk • 1–2 tbsp Thai red curry paste • 1 tbsp brown sugar • 1 tbsp fish sauce • 1/2 cup creamy peanut butter • 1 tbsp lime juice
Directions: 1. Freeze flank steak for 30 minutes. Cut crosswise, against the grain, into thin slices. 2. In a medium bowl, whisk together coconut milk, lime juice, curry paste, and fish sauce. Add steak and toss to coat. Cover and chill for 8 hours. 3. In a small saucepan over medium heat, combine coconut milk, curry paste, brown sugar, and fish sauce. Bring to a gentle boil for 3 minutes, stirring occasionally. Add peanut butter and stir until well blended. Remove from heat and add lime juice. 4. Thread the marinated meat onto 12 long skewers. Grill until beef is medium rare, 1–2 minutes per side. 5. Transfer satay to a platter and serve with peanut sauce.
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