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Is Everything I Earned During My Marriage Considered Marital Property in Illinois?

DuPage County Divorce Lawyers Help Explain Marital and Non-Marital Property

All of the income that you and your spouse earn from working during the duration of the marriage will, in fact, be considered marital property. Of course, there can be exceptions to this rule if there was a prenuptial or postnuptial agreement in place specifying otherwise.

At Mirabella, Kincaid, Frederick & Mirabella, LLC we can help explain what other exceptions there may be to understand what property types are considered marital or non-marital. Before the courts will do a division of the property, they identify whether it was obtained before or during the duration of the marriage. Here is a list of examples for the most common forms of marital property that will be divided in the marriage:

  • Any bank, investment, or brokerage accounts
  • Vehicles owned by the spouses
  • Homes and vacation homes
  • Stock and sock options
  • Household furnishings and furniture
  • Pensions or retirement plans

Many people often believe that the main deciding factor when establishing if property is marital or non-marital is if the property was acquired prior to the marriage. However, if the owner transfers funds from a non-marital bank account into a marital bank account, the funds can become commingled. Here is a list of other common forms of non-marital property:

  • Property excluded by valid agreement of the parties
  • Any Gifts Received Solely for You and Not Your Spouse
  • Acquired by Legacy or Descent
  • Acquired in exchange for property given before marriage

Dividing property in the divorce process can easily become complicated and upsetting, which is why capable representation should be at your side to guide you through the proceedings. At MKFM Law, we have decades of experience with divorce and family law. Please contact our office so that we can help you make this portion of your divorce as easy as we possibly can. You can reach our office at 630-665-7300.

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1737 South Naperville Road, Suite 100
Wheaton, IL 60189
630-549-0960
Evening and weekend hours by appointment.

We serve clients throughout Kane County, Illinois including St. Charles, Geneva, Batavia, North Aurora, Elgin, Algonquin, Aurora, Barrington Hills, Bartlett, Big Rock, Burlington, Campton Hills, Carpentersville, East Dundee, Elburn, Hampshire, Huntley, Kaneville, Maple Park, Sleepy Hollow, Wayne, West Dundee as well as throughout DuPage County.

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