Asset Separation Support
In Illinois, whenever property is divided during a divorce, it is not necessarily divided evenly. Instead, marital property accumulated during the marriage, as well as any assets, by law, can be equitably distributed and according to what is fair, not equal.
At the law firm of Laraia & Whitty, P.C., we carefully guide our clients through the process of tracing assets from their origins and determining what can be considered marital or non-marital property. As with any divorce proceeding, our attorneys help clients to understand the short term and long-term benefits and consequences that can result in divorce proceedings.
Not only is real estate property a matter of concern, but all retirement accounts, 401(k), pensions, along with stocks and bonds, can be accounted for in a divorce, and subject to division.
Debt Division Attorneys
Any debt that is acquired in a marriage may also be included in the division of property and assets, depending on the purpose of the debt. For example, if credit card debt was accumulated to be used for the benefit of both partners in the marriage, then both partners can be held liable for that debt. However, there may be extenuating circumstances where one spouse may not be responsible for paying a debt, if the debt was incurred separate from the marriage.
The attorneys at Laraia & Whitty, P.C. in Wheaton have over 80 years of combined legal experience representing clients in property and asset division. We do everything to accurately assess your financial situation, so that you can make informed decisions about how to best protect your assets when property division occurs.
Contact Our Property and Asset Division Attorneys
There are enough problems to think about in a divorce proceeding. Let us help to relieve some of the burden by providing our extensive legal services for your property and asset division matters. Contact Laraia & Whitty, P.C. to schedule a free initial consultation by calling 630-228-9984 so that we can address your concerns. We represent clients in DuPage, Kane, Cook, Kendall and Will Counties, including the greater Chicago area.