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Division of Assets & Debts

Your Chicago Property Division Lawyer

When two people choose to join in marriage, they not only join their lives, but also their assets. Married couples also acquire many assets together, such as their home, bank accounts, retirement accounts, vehicles, and more. In addition to property, there are often other assets that could be included, such as pensions, businesses, and real-estate investments. Determining how to properly divide marital assets is handled by the courts. They will determine this based on what they consider to be a “fair” asset distribution, based on many different factors.

Having an experienced Property Division Lawyer on your side who is skilled in finance, asset valuation, property division, and the tax implications of divorce, can not only help you to have a better understanding of your financial situation post-divorce, but can also assist you with getting your fair share of the assets.

Real Estate Division

In addition to your marital home, you may own other property which may be subject to division. This could include commercial property, vacation property, and rental property. Schondorf Law can assist you with real estate appraisals of the properties impacted, as well as allocating or dividing these properties. If you have a specific property that you would like to keep post-divorce, then our team of legal professionals can counsel you in how to best make that happen, as well as assisting with negotiations with your spouse and their attorney.

Division of Businesses

If you own a business, whether it was started before or during the marriage, it could be considered a marital asset, and as such, be subject to division during divorce proceedings. In order to protect your business, you will need to have a property division lawyer who has a firm understanding of business and finance, such as Schondorf Law.

Protecting Your Retirement During Divorce

While many people assume that the marital home is the most valuable asset to divide during a divorce, this is not usually the case. In most marriages, their retirement accounts, such as pensions, are the most valuable asset that is subject to division. In order to protect your future, you will want to work with a Property Division Attorney who can take into account ALL assets which may be impacted by the divorce, and help to determine which assets you most want to protect, and which can be used as suitable bargaining chips.

Free Consultation with an Experienced Property Division Lawyer

Our team of legal professionals are so confident that we are the right team for you, that we are willing to offer you a FREE consultation. We can discuss your case, our experience and record, and what we can do for you. Call us now at (877) 608-4514 to schedule your Free Consultation!