Property Division

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Am I Responsible For My Spouse’s Debt In Illinois?

By Russell Knight | June 25, 2022
Debt in an Illinois divorce

In my years as a divorce lawyer in Illinois, financial infidelity has been a bigger issue in my divorce cases than actual infidelity. Spending money and incurring debt without the permission of the other spouse is simply a bridge too…

Read More

Tenants In Common, Joint Tenants, and Tenants In The Entirety In An Illinois Divorce

By Russell Knight | June 7, 2022
Tenancy By The Entirety In Illinois

Being married means starting a life together. For most people, that means owning property together in furtherance of building a home and a family. That real estate can be held in a variety of ways based on how the deed…

Read More

Quit Claim Deeds And Divorce In Illinois

By Russell Knight | May 23, 2022
Deeds and divorce in Illinois

When two people are married and buy real estate, there are incredible incentives to hold the property jointly. Jointly held property has the right of survivorship. If one spouse dies, the entire property passes to the other spouse without the…

Read More

Cash In An Illinois Divorce

By Russell Knight | May 3, 2022
How to prove cash in an Illinois divorce

Cash money has a strange effect on people. Cash seems more real because you can touch and see the money. Cash is not just digital numbers on a spreadsheet somewhere. Cash can be instantly transferred or received. If no one…

Read More

How To Hide Assets In An Illinois Divorce

By Russell Knight | April 23, 2022
Secret assets in an Illinois divorce

Has anyone really been surprised that they got a divorce? I don’t think so. Instead, couples facing divorce plan for months or years for their divorce. They organize their schedule around the kids. They build up an emergency divorce fund.…

Read More

When To Separate Bank Accounts In An Illinois Divorce

By Russell Knight | April 22, 2022
Withdrawing money from a bank during an Illinois divorce

When you know you are getting divorced, you don’t need to wait for a court to order a division of assets to start dividing items. Couples usually each claim the car they were driving, their clothes and even pets well…

Read More

Debt And Divorce In Illinois

By Russell Knight | April 14, 2022
Illinois Divorce with Debt

While a divorce is usually about who gets what asset, most people have a mix of assets and debts. A married couple’s debts are also divided in an Illinois divorce. Illinois divorce courts “shall divide the marital property without regard to marital misconduct…

Read More

Bitcoin, Cryptocurrencies And Divorce

By Russell Knight | April 8, 2022
cryptocurrency and division of assets

***Updated in March 2021 to reflect the massive interest in cryptocurrencies*** Millions of people have purchased Bitcoin and other cryptocurrencies. Millions of people have also gotten divorced. Therefore, several Bitcoin owners got divorced and had to address the division of…

Read More

Getting Divorced In Illinois Without Really Getting Divorced

By Russell Knight | February 26, 2022
Coming to an agreement without divorce

Getting a divorce is a big deal. Some people just aren’t ready for a divorce. If you can no longer live with your husband or wife…but cannot abandon your home and file for divorce, you may want to functionally separate…

Read More

How To Turn A Non-Marital Property Into A Marital Property In An Illinois Divorce

By Russell Knight | February 6, 2022
Turning Non-marital property into marital property in an Illinois divorce

One of the most common scenarios in an Illinois divorce is finding that one spouse has non-marital property from before the marriage. The allegedly non-marital property is usually a house that both people live in, pay for, and keep repaired…

Read More