After the petition for divorce is filed in Illinois, but before you actually go to court, the two parties must participate in the discovery process.
Discovery is a thorny process, in cases where both sides stand to lose a great deal financially. It is the part of the Illinois divorce process where both sides show what they have — all their marital assets and debts:
- State and federal income tax returns for the previous three years or longer
- All bank statements for the previous three years or longer
- Documentation relating to the cost and nature of health insurance coverage and what is needed to convert the policy upon divorce
- Statements from the past three years for all retirement accounts, pensions and IRAs
- All loan or mortgage applications submitted over the past three years
- All financial statements prepared within three years of filing
- All business records for at least five years
Illinois is an equitable distribution state, meaning that all assets and debts will be divided fairly, not necessarily equally. To protect your rights and interests during divorce in Illinois, the services of a skilled family law attorney are essential.
Three Qualities We Are Proud Of
Feinberg Sharma, prides itself on:
- Meticulousness. We leave no stone unturned in identifying assets. When there are questions, we work with forensic accountants and other experts. Attorneys want to assure that all assets are discovered. However, sometimes the investigation may not the court of speculative ventures. We will discuss this with you.
- Cost sensitivity. Divorces are expensive by definition. We work in a consultative fashion with you, advising on the relative cost of different options, and guiding you to the best, most affordable outcome.
- Experience. We have been doing property division for over 40 years. There is little under the sun that we have not seen. Judges appreciate knowing you have “pros” on the case. Our experience and clear communication help the proceedings go faster and more efficiently.
Serving Chicago · Barrington · Northbrook · The Entire North Shore · Beverly · the South and Southwest Suburbs
The family lawyers of Feinberg Sharma, are skilled at property division in divorce. Contact our office located in Chicago at 312-376-8860, or email us at firstname.lastname@example.org. We represent people throughout the Chicago area.
Property Division Categories
Hidden Assets/Forensic Accountants
Separate Property Tracing
Divisions Of Business Assets
Division Of Executive Compensation
Division Of Retirement
Protection Of Investments And Businesses
Division Of Taxes
Division Of Inherited Properties
Division Of Debt