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  1. #1
    Join Date
    Apr 2009
    Posts
    1

    Default Division of Property

    My question involves divorce in the State of: Illinois
    My sister and brother-in-law filed bankrupcy about 8 years ago. He refinanced the house. Now they are getting divorced. They have not lived together since before the bankrupcy. She wants half the value of the house but says she is not responsible for any of the debt because she didn't sign to refinance but her name is still on the deed. She also wants half his pension and half his 401k. He says he was told he is not entitled to any of her CD IRA she got when she took her 401k and turned it into the CD after losing her job because it is not now considered a retirement pension. I think he is getting really bad advice and needs new attorney. He has been paying her car insurance and medical this whole time and she has been living with another man. Can she really get all this and him nothing but the bills?
    Thank You

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Division of Property

    Quite obviously, he needs a divorce lawyer. His lawyer can help him try to set a date for valuation of his assets at the time of separation instead of the time of divorce; that's not always easy, particularly with pensions, and I can't promise that a court will do that.

    You seem to be suggesting that he already has a lawyer knows Illinois law; this is sufficiently complex that I'm not willing to spend the time researching it - he should get a second opinion from another Illinois lawyer.

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