In today’s unconventional world, couples are remaining together and purchasing joint assets without any legal paperwork of establishing a marriage. When these couples separate, these cases become tricky under the current laws in Illinois. No matter how long a couple has been together, whether it’s a year or 40 years, the courts treat it the same when discussing a division of assets. Understanding these legal rules by retaining property division lawyers in Chicago is important for any couple.
The precedence that has set Chicago’s current court rulings derived from the case of The Illinois Supreme Court in Blumenthal V. Brewer (Eileen Brewer and Jane Blumenthal). In this court case, Eileen and Jane were together for 26 years with shared assets and children. The two assets up for discussions in this case were the house the couple shared, as well as a medical practice that belonged to Jane.
The case eventually made it past the trial court to the appellate court and onto the desk of the Illinois Supreme Court. The Illinois Supreme Court ruled in favor of Jane as the state does not take Common Law into consideration.
If you plan on being romantically involved with someone without any intentions of going through the marriage proceedings, it’s important to sit down with property division lawyers in Chicago to understand your rights and how to protect them if things don’t work out with your partner. The legal infrastructure hasn’t caught up to current norms so being proactive in the initial stages of your relationship to protect each individual’s rights needs to take place.
Hiring property division lawyers in Chicago to contractually divide shared assets in the case of a separation brings more fairness because the law doesn’t operate the same for long-term couples as it does for those who are legally married.
If you’re looking for experienced property division lawyers for your case, visit the Michael C. Craven website to find out how his law firm can help.