Thank you for your additional information.
Illinois is an "Equitable Distribution" State which means that upon dissolution of the marriage, the marital property is equitably divided between the spouses. However, "Equitable" does not always mean equal. If the parties cannot agree on a division of the marital property, then the Judge will divide it for them. The starting point is 50%-50%, however, the Judge takes additional factors into consideration, some of which are the following:
Length of the marriage
Respective age and health of the parties
What assets each brought into the marriage
Contribution of a spouse as homemaker
Under Illinois law, ,marital property is defined all property acquired, purchased, or earned during the course of the marriage, regardless of who paid for it and regardless of whose name is XXXXX XXXXX title, except for gifts, bequests, and inheritances, which remain the sole, and separate property of the recipient spouse.
Under this definition, all amounts in his IRA and Pension which were earned during the marriage are marital assets and are subject to equitabole distribution upon dissolution of the marriage. As for Social Security, you can choose to apply for benefits under his Social Security amounts, but you cannot collect both from his account and receive Social Security benefits from your account.
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