Approximately 70% of divorced men and 60% of divorced women remarry whether or not they have children, and most do so within five years
Property Division: Protecting what is yours.
When you are going through the process of getting divorced, you will have to start thinking about what property belongs to you. The common misconception is that all property is divided equally, but this is not necessarily the case. At the Chicago and Hanover Park Law Offices of Elliot Heidelberger, we can help you protect your assets and get the most out of your property division settlement.
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It is our job to help you figure out what you can keep and how you can keep it. We use computer software to help you figure out income tax consequences and the payment of maintenance. We look at all determining factors from the marriage and resulting from the divorce:
- Prior Property
- Inherited Property
- Educational Background
- Age
- Health
- Income
- Support Payments
Property division goes hand in hand with alimony. The more marital property you receive, the less beneficial your alimony plan will be. Property division is also affected by the division of debt.
It is also important to understand the different tendencies of judges. There is no set formula for property division, debt allocation, and spousal maintenance. Judges use their own discretion in these matters.
How Property is Divided
Property is not just split fifty-fifty. This is the common point where everybody starts, but there are a lot of factors that will affect the end result. You also have to consider debt division as part of the process as well. An experienced lawyer will make sure you take a look at the division of all your marital property:
- Property: From real property such as houses and cars to 401k plans, pension plans, and retirement benefits, we can help you plan for your short- and long-term future.
- Debt: If you have debt, you will have to determine how that will get paid. We can help you take a look at your home equity loans and all existing lines of credit.
Contact Us
We are ready, willing, and able to fight for your property rights. There is no set formula; you can take action and get what you deserve when it comes to the division of your property. At the Chicago and Hanover Park Law Offices of Elliot Heidelberger, we will fight for you. Contact us today for a free initial consultation.
