Divorce and Family Law
Allocation of Marital Property and Marital Debt
The idea that spouses must equally divide their property in a divorce is a common misconception. It is common for the Court to begin with the assumption that property and debt will be equally allocated to the divorcing parties. However, the Court will also consider a number of other factors including without limitation the earning capacity, non-marital property, and health and well-being of the divorcing parties. It is not unusual for the party with less earning capacity, less non-marital property or serious health issues to receive more than half of the marital property and less than half of the marital debt. The Bruning & Associates, P.C. divorce lawyers can provide skilled and experienced counsel to achieve a favorable allocation of marital property and marital debt for you.
Exclusive Possession of the Marital Home or Residence
In some divorce cases, it is impossible for the divorcing spouses to live together peacefully while the divorce case is ongoing. In such cases, the divorce lawyers at Bruning & Associates, P.C. have the education, knowledge, training, skill, experience and expertise necessary to obtain a Court order awarding you exclusive possession of the marital residence or home requiring your spouse to find other accommodations.
The idea that spouses must equally divide their property in a divorce is a common misconception. Non-marital assets of a spouse are not subject to equitable distribution. For example, an inheritance received by one spouse may not be considered marital property unless it is commingled with other marital assets. The Bruning & Associates, P.C. divorce lawyers can provide skilled and experienced counsel to protect your non-marital property rights.
Although Illinois law requires all parties in a divorce to disclose all their assets and income, it is very common for divorcing spouses to hide assets from each other. Our skilled divorce attorneys have the experience and knowledge to discover and identify hidden and/or unreported income and assets.
Retirement Accounts, Retirement Assets, Pensions
The protection and/or division of retirement accounts, retirement assets, pensions, pension benefits, and pension related survivor benefits in divorce cases can be complicated and difficult to understand for individuals and lawyers unfamiliar with the State and Federal laws governing retirement accounts and pensions. The skilled team of divorce lawyers at Bruning & Associates PC have the education, training, experience, skill, and expertise necessary to resolve issues regarding disputes over Pensions, 401(k) accounts, IRAs, SEP Plans, Simple Plans, 403(b) Plans, 457 Accounts, TRS pensions, SURS Pensions, IMRF Pensions, and other retirement assets.
QDROs and QILDROs
A Qualified Domestic Relations Order also referred to as a “QDRO” is a court order which transfers all or a portion of one spouse’s retirement assets to the other spouse in a divorce case. A Qualified Illinois Domestic Relations Order also known as a “QILDRO” is a court order which transfers Illinois public employee retirement and pension benefits of one spouse to the other spouse in a divorce case. The Bruning & Associates, P.C. skilled divorce lawyers have substantial education, training, experience and expertise with respect to QDROs and QILDROs. Your retirement accounts are sometimes among your most valuable assets.
Bruning & Associates, P.C. has offices conveniently located near you in Chicago, Schaumburg and Crystal Lake, Illinois. Please contact Bruning & Associates, P.C. to schedule a free consultation related to any issues of concern regarding the effect of your divorce case on your Property and Asset Division.
Serving divorce clients in Property and Asset Division matters in Northern Illinois, including Cook County, DuPage County, Kane County, McHenry County, Lake County, Will County, Boone County, DeKalb County, Kendall County, LaSalle County, and Winnebago County.