No, it is not. At least, there is no hard and fast rule that automatically entitles each spouse to one-half of the marital assets.
While a 50-50 division typically occurs more often than not, it happens only when it is consistent with equity and fairness. For example, 50-50 would be fair and equitable if both spouses had the same or relatively equivalent earnings. However, if one partner earns $90,000 per year and the other partner earns $20,000 per year, then the court may divide their property 60-40 or 65-35 in favor of the spouse who earns less.
Depending on the length of the marriage, the parties’ health circumstances and income potential, the extent of their respective earnings and non-marital assets, and other pertinent factors, it is not uncommon for the court to award 80% to 100% of the marital assets to one spouse. Property division in higher-asset marriages gets complicated quickly—something our Oak Brook divorce attorneys deal with constantly when business valuations, executive compensation, and real estate portfolios enter the picture.
Another factor to consider is the amount of spousal support that is awarded to the financially dependent spouse. If the alimony/maintenance award is above or below the norm (depending on each party’s financial wherewithal and needs), then the property division may fluctuate to a percentage that achieves overall fairness and equity between the parties. Ultimately, how an Illinois court actually applies equitable distribution is fact-specific; our DuPage County divorce practice covers it in more detail to help you understand how the law applies to your specific assets.