At Keller Legal Services, we work with clients throughout Naperville and the greater Chicago area to protect what they have built during their marriage. Divorce can be one of the most financially stressful events a person goes through, and without a solid strategy, assets accumulated over years of hard work can be compromised. Illinois law provides a structure for dividing marital property, but it does not guarantee a fifty-fifty split.
Understanding the distinction between marital and non-marital property, knowing how to manage shared finances, and having proper documentation can make all the difference. We are committed to helping you take the right steps to protect your financial future during and after a divorce.
Under Illinois law, the court divides marital property equitably, not equally. This means a judge considers what is fair rather than splitting everything down the middle. According to the Illinois Marriage and Dissolution of Marriage Act (750 ILCS 5/503), marital property includes assets and debts acquired by either spouse during the marriage. Non-marital property generally includes anything owned before the marriage, gifts, and inheritances that were kept separate.
To protect your non-marital property, it is essential to keep it separate from marital assets. If inherited funds are placed in a joint account or if you use individual property to benefit marital property, such as using premarital savings to pay off a joint mortgage, it may lose its separate status. We advise clients to keep detailed records and avoid commingling separate and marital property whenever possible.
One of the most practical ways to protect your assets is by thoroughly documenting them. This includes listing all accounts, property, investments, and liabilities. We encourage clients to gather records such as bank statements, tax returns, deeds, business records, and any financial documents showing when and how an asset was acquired.
These documents not only provide a clearer picture of the marital estate but also strengthen your legal position if the case goes to trial. The court will examine each asset to determine whether it is marital or non-marital, how much it is worth, and how it should be divided. We work with financial professionals when necessary to ensure proper asset valuation.
Illinois courts recognize and enforce both prenuptial and postnuptial agreements as long as they meet legal standards under 750 ILCS 10/7. A well-drafted agreement can define which assets remain separate, how property should be divided, and how spousal support will be handled. These agreements must be fair, in writing, and signed voluntarily by both parties.
We help clients review and prepare these agreements to reduce risk and uncertainty in the event of divorce. If you already have an agreement in place, we will assess its enforceability and ensure it is presented properly during proceedings.
It is important to be cautious with financial decisions once divorce becomes a possibility. Draining joint accounts, selling property without consent, or hiding assets can harm your credibility and lead to legal consequences. Illinois courts take a dim view of financial misconduct and may compensate the other party if assets are wasted or concealed.
We encourage open and strategic financial planning. That includes setting up individual accounts, adjusting your budget, and monitoring credit activity. These steps can help protect your credit score and financial independence while the divorce is pending.
Financial protection during divorce also includes understanding your obligations and rights under Illinois maintenance and child support laws. Spousal maintenance, formerly known as alimony, is determined by a formula in 750 ILCS 5/504 but may be adjusted based on the couple’s circumstances. Child support is calculated using the income shares model under 750 ILCS 5/505.
Whether you expect to receive or pay support, proper financial preparation ensures fairness and compliance with the law. We provide guidance based on your income, parenting time, and future goals.
To keep your inheritance from being divided, it must remain separate from marital funds. Avoid depositing it into joint accounts or using it for joint expenses. Documentation showing it was inherited and kept separate can help the court identify it as non-marital property.
Real estate purchased during the marriage is usually considered marital property, even if only one name is on the title. However, if one spouse contributed non-marital funds to the purchase or maintenance of the home, reimbursement may be possible under 750 ILCS 5/503(c)(2).
Yes, courts can impose penalties if a spouse transfers or hides assets in bad faith. If one spouse dissipates marital assets, the court can require reimbursement. Transparency and accurate disclosures are essential to avoid negative consequences.
Illinois follows the equitable distribution model, meaning property is divided fairly, not necessarily equally. The court considers many factors including the length of the marriage, the financial situation of each spouse, and contributions to the marriage.
You can open a separate account for your income or non-marital funds, but be careful not to violate any court orders. We advise clients to keep detailed records and maintain financial integrity throughout the divorce process.
A prenuptial agreement is enforceable if it meets legal requirements and was signed voluntarily by both parties. The court may set it aside if it is unconscionable or if full financial disclosure was not provided at the time it was signed.
Retirement accounts earned during the marriage are usually considered marital property. However, only the portion earned during the marriage is subject to division. We help clients divide retirement assets through a Qualified Domestic Relations Order (QDRO) when necessary.
At Keller Legal Services, we are committed to protecting your financial future. Whether you’re dealing with a high-asset divorce, property division issues, or financial misconduct by your spouse, we can help you plan strategically and assert your rights in and out of court.
If you are facing divorce in Naperville or anywhere in the Chicago area, we are ready to help. Contact our Naperville divorce lawyer at Keller Legal Services by calling 630-505-1515 to receive your free consultation. We represent clients throughout Naperville, DuPage County, and the entire Chicago metropolitan area.
