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For more videos, make sure to subscribe to: WATCH NEXT: Can't We Just Use My Wife's Attorney? Illinois is an "equitable division" state. In divorce, equitable division means that marital property must be divided equitably or fairly, No, Illinois isn't a community property state. The principle of "equitable distribution" guides property division in Illinois divorces. Instead
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Is Illinois A Marital Property State? In this informative video, we will cover the important topic of property division in Illinois during a How to cut your spouse out of your will. #estateplanning #probate #family #money #lawyer #attorney #medicaid #taxes. In the state of Illinois, income earned during a marriage is typically considered marital property — regardless of how it is deposited
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The TWO words that MUST appear on your house deed! Illinois operates as an equitable distribution state, meaning marital assets are divided based on what's fair, not just splitting everything 50/
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Nine states in the US that are considered community property states, and Illinois is not one of them. Instead, Illinois is a Common law state. Illinois is not a community property state, and everything from money to assets and estate acquired during the time a couple was married is Does property get divided in legal separation
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Alimony/Maintenance Calculation in Illinois Divorce According to Section 503 of the Illinois Marriage and Dissolution of Marriage Act, marital property refers to assets and debts acquired by
No matter what the asset is or how you got it, your spouse will get half of it. This is what happens under Community Property, How To Put Your Home Into a Trust DIY Understanding Marital vs. Non-Marital Property | Full Episode | Illinois Divorce Guide