New Lenox, IL asked in Divorce and Family Law for Illinois

Q: 34-yrs married, $3M+ assets. Tell me more about "equitable" split. 50/50 is far from equitable all things considered.

I'm 57-yrs old. My highest wage earning years are behind me. All real estate holdings acquired were made possible by my earnings over last 30-years. Likewise all improvements, management, etc, have been and are 95% on me. Retirement is 401K along with rental properties. I would need no less than 80% to have any chance of retiring. There is simply not enough time left or ability to earn a living at the same level as in the past 30-years. Is there any chance for an equitable split of 80% or am I simply doomed by the laws in place today? Whether it matters or not I'm facing the possibility of divorce due to my wife's infidelity. The emotional toll this has had on me has already impacted my professional life. I'm also meeting with a therapist several times per month to navigate through this. The Affair Partner has had complete disregard for any of the pain he has caused myself and soon to be family assuming disclosure to rest of world results. Thanks in advance for the response.

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2 Lawyer Answers
Daniel J. Kollias
Daniel J. Kollias
PREMIUM
Answered
  • Winfield, IL
  • Licensed in Illinois

A: The law does not require a 50/50 division. The court has the authority to divide marital assets and debts based on what is fair and equitable. The law lists several factors that the court may consider in making that determination, many of which you touched upon in your question.

J. Richard Kulerski Esq. agrees with this answer

1 user found this answer helpful

J. Richard Kulerski Esq.
J. Richard Kulerski Esq.
Answered
  • Oak Brook Terrace, IL
  • Licensed in Illinois

A: There are some factors by which a judge might be inclined to deviate from a 50%-50% split, but you haven't mentioned any of them. Your 80% would only fly in extraordinary circumstances, e.g., you are a quadriplegic with enormous health care costs.

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