Illinois Marital Legal Separation and Property Settlement Agreement no Children parties may have Joint Property or Debts where Divorce Action Filed
Overview of this form
This Marital Legal Separation and Property Settlement Agreement is a legal document designed for married couples in Illinois who have no children and need to partition their joint property and debts during an ongoing divorce action. This form ensures that all assets and liabilities are clearly defined and settled between the parties, allowing them to move forward without future claims. It differs from other forms by specifically addressing the needs of couples without dependents and those with joint financial responsibilities.
Main sections of this form
- Identification of the parties and premise of separation.
- Division of assets including cash, real estate, and personal property.
- Specification of debts and liabilities each party agrees to cover.
- Future spousal support or alimony provisions.
- Tax obligations and responsibilities for previous filings.
- Provisions for notarization and witness signatures.
Common use cases
This form should be used when married individuals wish to formalize their separation and settle property matters through a written agreement while a divorce case is pending. It is particularly helpful when there are disputes over joint property or debts to avoid future legal complications or misunderstandings. Couples should consider this agreement when they have decided not to reconcile and want to clarify their financial responsibilities.
Who can use this document
- Married couples in Illinois who have filed or plan to file for divorce.
- Couples without children who need to divide joint assets and debts.
- Parties seeking to settle financial matters amicably before finalizing a divorce.
Completing this form step by step
- Identify and enter the full legal names of both parties at the beginning of the agreement.
- Clearly outline all shared assets and debts, specifying what will be assigned to each party.
- Decide on any spousal support arrangements, including payment amounts and terms.
- Both parties should sign the agreement in the presence of a notary public to ensure its legality.
- Make copies for both parties to retain their original signed documents.
Does this document require notarization?
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to fully disclose all financial information and assets.
- Not having the document notarized as required by law.
- Overlooking the need to keep copies for personal records.
- Not consulting with an attorney for legal advice prior to signing.
Benefits of using this form online
- Convenience of downloading and completing the form at your own pace.
- Editability allows for modifications before finalizing the agreement.
- Access to templates drafted by licensed attorneys ensures legal accuracy.
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FAQ
Marital Property and Separate Property in IllinoisMarital property includes most assets and debts a couple acquires during marriage. Property is separate if a spouse owned it before marriage or acquired it during marriage by gift or inheritance.
Related Content. Property that is unlikely to be shared between the parties on the breakdown of the marriage or civil partnership unless it is required to meet needs. Generally non-matrimonial property is: Acquired by one party before the marriage.
Though the term non-marital property often refers to any personal or real property owned prior to, and brought into the marriage, it can also refer to things such as inheritances and gifts made to only one spouse.
: not of, relating to, or occuring within marriage or the married state : not marital nonmarital childbearing nonmarital cohabitation nonmarital sexual relations.
Illinois is not a community property state it is an equitable division state. That means marital property and debts need not be divided 50 / 50. Rather, the law requires property to be divided "equitably." Many cases are resolved with 60/40, 70/30 splits and some even allocate ALL marital property to one spouse.
Marital, or community property, is defined as assets and debt newly acquired during the marriage, either jointly or by one party, other than by a gift or inheritance to one spouse. Nonmarital, or separate property, are the assets and debts owned prior to the marriage that remain unchanged.
Couples who established bank accounts after the marriage began must divide these accounts equally when seeking divorce. Specific accounts that contain marital funds are the marital property of both parties.Meanwhile, couples who each own separate property keep their specific accounts or property.
Can separate property become marital property? Separate property can become marital property if it is mixed with marital property. For example, if one of the spouses uses money they had before the marriage to buy a house for the couple, that money might become marital property.
California's separate property laws apply to a house owned before marriage.(b) A married person may, without the consent of the person's spouse, convey the person's separate property." Therefore, you should have a separate property interest during the divorce in that premarital asset which is your house.
