Tag Archives: equitable division

Illinois family law attorney, division of debt at divorceWhen considering divorce, a couple often questions how their assets and property will be divided. While this determination is very important, it is often just as important to consider how the debts of the couple will be divided. In many ways, the division of debt is treated similarly to the division of property. However, there are additional issues to consider when dividing debt between divorcing parties.

Equitable Division

In Illinois, property and debt is divided in a way that is intended to be equitable to both parties. However, equitable division does not necessarily mean both sides will receive an equal share. In making this determination, the court will consider several factors such as the length of the marriage and the financial situation of the parties.

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In honor of the passing of our founder, Joseph F. Mirabella, Jr., our offices are closed Friday, January 31, 2020.I Agree