Illinois follows the principle of equitable distribution, not community property, for marital assets in divorce proceedings. This means that marital property is divided fairly, not necessarily equally. For example, while a 50/50 split is common, a judge might award a larger share to one spouse based on factors like contributions to the marriage, economic circumstances, and the needs of each party.
The distinction between equitable distribution and community property is significant for couples residing in or moving to Illinois. Understanding how marital assets are treated under state law is crucial for financial planning, prenuptial agreements, and potential divorce proceedings. Historically, many states, particularly in the West and Southwest, adopted community property laws based on Spanish and French legal traditions. Illinois, however, has always adhered to the separate property system, evolving into the current equitable distribution model.
