When it comes to questions over inheritance and gifts in a divorce, two key terms that you will become acquainted with are non-marital and marital property. Both terms speak to the same issue and can have a tremendous impact on how an asset will be divided. Non-marital property is distinctly yours and is determined by one or more of the following factors:
The property was owned by you prior to the finalization of either your current marriage or your upcoming divorce.
You inherited or were gifted the property.
The property in question was designated as separate through a pre- or postnuptial agreement.
Beyond these conditions, everything else is considered marital property and subject to an equitable division. Keep in mind, in the state of Illinois, equitable division does not necessarily mean a 50/50 split. Family courts will determine a "fair" division via a number of different factors.