Among the list of concerns during a divorce, financial security almost always finds its way near the top. Competing interests and priorities can cloud judgment and lead to confusion regarding which assets go to whom and for how long. Illinois applies a method of equitable distribution to property division divorce proceedings. Courts weigh multiple factors against the specific facts, without consideration of marital misconduct, before them.
Factors the courts considers
The law requires courts to assess the factors “in just proportions.” Among other considerations, property distribution considers:
- Income and Earning Capacity—Age, education and health contribute are all factored in
- Economic Misconduct (Dissipation)—Wasteful or fraudulent spending of assets
- Educational Contributions—Spouses contributing significantly to the other’s education may receive a percentage of the property
- Child Custody—May affect the percentage of the estate a spouse receives or who receives the marital property
Data collected between 2016 and 2020 reveal the highest divorce rates in Illinois—between 15 and 18%—aligned with two socioeconomic factors: towns with a population of fewer than 20,000 and a median income below $50,000 dollars annually. West Frankford ranked ninth highest with a divorce rate of 15% and a median income of $30,938.
Every divorce has its own origins. Each requires a resolution best suited to the fairness of all parties. Attorneys who understand divorce law can explain how the law works when applied to different situations.