What Is Considered Marital Property?

What Is Considered Marital Property?

Division of property is often an area where couples may disagree during a divorce. Additionally, couples may have questions about Illinois law and how a court determines who receives which property. At Sam Law Offices LLC., we are committed to helping you understand divorce proceedings in Illinois and who the rightful owner of marital property is. 

What is the difference between Marital and Non-Marital Property?

Illinois law categorizes property as either marital or non-marital. Marital property refers to anything that was obtained by either spouse during the marriage. Regardless of who has ownership of the property, the court will assess when the property was obtained in order to see if it falls under marital or non-marital property. Marital property can also refer to items that are shared between spouses, even if one spouse did not purchase the property. Non-marital property refers to any property that was obtained by either spouse before the start of the marriage, including any gifts or financial contributions given to that individual. If however the property becomes shared, such as adding a spouse’s name to a car, the property would be considered marital property. In most cases, non-marital property is kept with the individual who owns the property. 

What are Examples of Marital Property?

Marital property can refer to various aspects of a marriage. Examples of items that are commonly viewed as marital property include:

• Vehicles 

If a vehicle was purchased by a spouse before marriage, that spouse would keep the vehicle after the divorce. However, if it was purchased during the marriage or both spouses’ names are on the title, it’s considered marital property. 

• Home 

If both spouses purchased their home together, it’s considered marital property. If one spouse purchased a home before the marriage, but the other spouse is contributing to payments on the house, it’s also considered marital property. 

• Bank Accounts 

If an account was opened after the marriage began, it’s considered marital property. Additionally, any joint accounts are also considered marital property. 

• Furniture

Furniture that was purchased during the marriage is considered marital property. It may be considered non-marital if one spouse purchased the furniture before marriage and the other spouse’s name is not connected to the furniture. 

How Does Illinois Law Divide Property Between Spouses?

Illinois is classified as an equitable distribution state, meaning that property is not divided 50/50 between spouses, but is divided upon a case-by-case decision. The court will determine what the fairest division looks like for the couple and make their decisions accordingly. Illinois gives equal consideration to both spouses in regards to property arrangements, but they may consider specific circumstances in their decision-making process. Some common considerations may include:

• Which spouse contributed financially more to the property 
• Financial obligations and needs of each spouse
• Any current or prior agreements upon the property 
• The overall value of the property

Contact Our Office Today

If you have questions regarding marital property considerations, contact our trusted attorneys today. We’re here to help you understand divorce proceedings in Illinois and provide support during the process.