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What is the law regarding percentage split of liquid assets in a divorce? For the state of Illinois.
Anonymous2 views1 answers
Is the split 50/50 or 60/40? Does it matter if it is liquid assets or profit from the sale of a home? What about the % for the sale of a lake lot with no house or other structure on it?
I also own a health clinic. and the other party wants 50% of that stating that I was allowed to grow my practice while she stayed at home. However, she has worked everyday of her life and now has an advanced degree in graphic arts. She works out of the home and makes an income comparable to mine.
Of course, I would have to see it in the suit brought by her husband to answer this fully. However, as a general rule money in a joint checking account is owned by both parties to the account. Furthermore, it sounds as if the money, and possibly the debt, or marital, in which case the divorce judge would sort out who owes who.
Your situation involves important and complicated matters of law and fact. I urge you to consult with a lawyer on this matter.
