Divorce and Legal Separation in Illinois
By Chicago Divorce Attorney Patrick Markey, P.C.
Illinois is a no-fault state, meaning that it does not look to marital misconduct when dividing property or awarding monetary support. All property acquired during the marriage with a few exceptions is marital. The titled named in one spouse or the other is generally not relevant. Property includes but is not limited to: real estate, bank accounts, retirement accounts such as 401(k), pensions, stock options, businesses, vehicles, whole life insurance policies, personal property, etc.
The court must equitably allocate all the property of the marriage based on number of factors. The court does the same thing with debts incurred during a marriage. The court also can award maintenance formerly known as alimony based on several factors including but not limited to: the duration of the marriage, standard of living during the marriage, age and physical/emotional condition of each party and the present and future earning capacity of each party.