Tag Archives: Illinois court

DuPage County divorce lawyer, homemaker, Illinois court, llinois divorce, non-monetary contribution, stay-at-home mom, valuation, valuation and divorce, intangible contributionsWhile the reasons for divorce can center around various instigators ranging from infidelity to irreconcilable differences, the process inevitably addresses the issue of money. Property divided upon divorce, child support payments, satisfaction of debts, and alimony are all topics with which most people have at least some sort of familiarity. Each of these issues deals with either the classification of property, the allocation of debts, or the assessment of payments to be made from one party to the other. At the core of each consideration lies valuation.

Valuation in Divorce

Valuation is about money. How much each spouse makes, the size of debts, the earning potential of each individual, the contribution to the marital estate, and the value of property to be distributed are all boiled down to dollar values. While this seems to be an odd way to quantify what is regularly considered an unquantifiable relationship between spouses, it is what currently works.

Courts can only work with the laws and facts they are given, making decisions with tangible concepts such as valued commodities, goods, and contributions. This allows the Court to make a reasonable assessment of the situation by using standard rules that are impartial towards the situation, and, as a result, come to a conclusion based on reason. The benefit of this process is that it is repeatable; the court can make decisions in an unbiased manner that would result in largely the same outcome given similar circumstances.

What constitutes fair distribution?

...
Continue reading

Recent Blog Posts

Categories

Archives

Free Initial Consultations

phone 630-920-8855
address15 North Lincoln Street, Hinsdale, IL 60521
phone 331-588-6611
address21 North 4th Street, Geneva, IL 60134
Our firm handles family law and personal injury matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Burr Ridge, Carol Stream, Darien, Downers Grove, Elmhurst, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lombard, Naperville, Oak Park, Oak Brook, Oakbrook Terrace, Clarendon Hills, Oswego, Park Ridge, Roselle, St. Charles, Geneva, Villa Park, Warrenville, Wheaton, Western Springs, LaGrange, Winfield, Woodridge and Yorkville.

© 2020 Law Office of Martoccio & Martoccio 15 North Lincoln Street, Hinsdale, IL 60521 630-920-8855

OVC Lawyer Marketing

Share Your Experience

X