Will I Be Left With Nothing After My Divorce?

 Posted on May 12, 2025 in Divorce

A divorce can disrupt nearly every aspect of your life, and the future of your financial situation is likely to be a top concern. If your spouse handled the money, if you gave up a career to raise children, or if you are walking away from years of shared assets and debts, it is only natural to ask: Will I be left with nothing? 

The good news is that Illinois law is not designed to punish one spouse or reward another. Instead, it focuses on equitable outcomes that reflect each person's contributions, financial or otherwise. Whether you were the breadwinner, the caregiver, or somewhere in between, a Kane County family law attorney will fight to ensure you receive a fair share of what was built during the marriage. 

How Does Illinois Divide Property in a Divorce?

Illinois adheres to the principle of equitable distribution when dividing marital property. This approach is not necessarily a 50/50 split; instead, it focuses on achieving a division that is fair to both spouses based on the unique circumstances of the marriage.

Marital property generally includes any assets acquired during the marriage, regardless of which spouse’s name is on the title. This can include homes, vehicles, bank accounts, retirement accounts, and even certain debts. 

The court will consider several factors, such as the duration of the marriage, each spouse’s financial situation, and each spouse’s contributions to acquiring and maintaining assets. In most cases, both spouses will receive a meaningful share of the marital estate.

Does It Matter Who Files for Divorce First?

In Illinois, the person who files first does not gain a legal advantage regarding how property is divided or whether maintenance is awarded. However, there can be strategic benefits to filing first. You can have more time to prepare, gather information, and request temporary orders for support or custody in the early stages of the divorce process.

Ultimately, the court treats both spouses equally under the law, and the outcome will depend more on the facts of the case rather than on who initiated the divorce.

What If My Spouse Was the Only One Earning Money?

Even if your spouse was the sole income earner, you are still entitled to an equitable share of the marital property. Illinois courts recognize the value of non-financial contributions like staying home to take care of children or managing the household while your spouse worked.

Judges understand that a marriage is a partnership, and both spouses contribute to its success in different ways. As a result, property is not awarded solely based on income. The court will account for each person's role during the marriage and make sure both parties walk away with a fair portion of the shared assets.

Can I Receive Spousal Maintenance?

Spousal maintenance may be awarded when one spouse is financially dependent on the other. Whether you qualify depends on various factors, including the length of the marriage, the lifestyle you shared, and your future earning potential.

If you sacrificed your career or education to support your spouse or raise children, the court may determine that you are entitled to financial support while you work toward self-sufficiency. The duration and amount of maintenance will depend on your needs and your spouse’s ability to pay it. Maintenance may be awarded for a longer period for longer marriages, or even permanently in rare cases.

Will I Have to Pay Half the Marital Debt?

Just as marital assets are divided, so are marital debts. To determine a fair division, the court will evaluate all outstanding obligations, such as mortgages, credit cards, personal loans, and medical bills. It will then determine which debts are marital and divide them equitably.

You are not automatically responsible for debts incurred solely by your spouse. Instead, the court will look at factors like who benefited from the debt, each spouse’s financial capacity, and who is in a better position to pay it. An equitable division means neither party is left with an unfair burden of debt based on his or her ability to pay.

What Happens to the Family Home?

The family home can be one of the most emotionally charged assets in a divorce. If the home was purchased during the marriage, it is typically categorized as marital property. The court may handle its division in several ways:

• One spouse may keep the home and pay out the other for his or her share of the equity.

• The home may be sold, and the proceeds divided between both spouses.

• If children are involved, the custodial parent may be allowed to stay in the home to provide stability.

Courts frequently favor solutions that prioritize the children’s well-being and that both spouses have a place to live after the divorce. The outcome will depend on the overall financial picture and the ability of either party to maintain the home.

What Will Happen to Retirement Accounts?

Retirement accounts, such as 401(k)s, IRAs, and pension plans, are typically considered marital property if contributions were made to them during the marriage. Even if the account is only in one spouse’s name, it may still be subject to division.

To properly divide retirement assets, the court may issue a Qualified Domestic Relations Order (QDRO). This allows the funds to be split without early withdrawal penalties or tax consequences. Retirement savings are valuable assets, so it is important that they are handled with great care to ensure a fair distribution.

What Steps Can I Take to Safeguard My Finances?

As you prepare for or go through a divorce, there are some practical steps that you can take to protect your financial future:

• Gather key financial documents, such as tax returns, bank statements, and loan agreements

• Open individual bank accounts to establish financial independence

• Create a realistic budget that reflects post-divorce income and expenses

• Consult a divorce attorney early to understand your rights and options

Being proactive will help you navigate divorce with greater confidence and security.

Contact a Kane County, IL Family Law Attorney

You do not have to fear being left with nothing after your divorce. Illinois law is designed to be fair, and with the help of a skilled attorney, you can take steps to protect your future. A St. Charles, IL divorce lawyer at Goostree Law Group can help you understand your rights and offer trusted guidance through every step of the divorce process. Call 630-584-4800 today to schedule a free consultation.