Will I Lose the Family Home During My Illinois Divorce?

 Posted on August 09, 2019 in Divorce

When two people decide to get a divorce, it is not only their marriage that is splitting. Everything that a couple built together will be divided. In regards to assets, Illinois is an equitable division state. Unlike a community property state, which splits marital assets 50/50, Illinois divides property based on what is fair. When it comes to the family home, it will be given to whomever the court deems is deserving based on certain factors surrounding the marriage. The other spouse will likely move to another location, and the couple's children will usually split their time between the parents' homes.

Factors Considered for Division

• Contribution to the marriage: When dividing marital assets, such as the home, the court will review and consider what each spouse contributed to the marriage. If one spouse gave up his or her career to raise children, that can be considered a significant contribution. In many cases, the other parent may have traveled for work and was gone for long periods at a time, so one parent staying home was a necessity to maintain the household. The court also considers economic circumstances such as employment-related issues such as income earned or the income-earning potential of each spouse. This factors into whether or not a person can afford to make mortgage and property tax payments on a house. 
• Child status: Courts attempt to disrupt a child’s current lifestyle as little as possible. Decisions are made with the best interest of a child in mind. That being said, when possible, a court will try to keep a child in the marital home. This also allows them to remain in the same community and school district. The parent with the most parental responsibility, in turn, may get the family home because it is the best choice for the child. 

Contact a Rolling Meadows Divorce Lawyer

The family home is filled with memories and it is where your child is likely the most comfortable. When going through a divorce in Illinois, determining which spouse gets to keep the house is based on what is considered “fair.” The skilled legal team of A. Traub & Associates has handled many divorce cases, and we understand Illinois divorce and family law matters. For any asset or property division concerns, contact an experienced Barrington division of marital property attorney to learn about your rights and options in regards to the family house. Call our office today at 630-426-0196 to schedule an initial consultation.

Source:
http://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm