Spouses in Illinois must make a full accounting of their assets when they are getting divorced. Sometimes, a spouse will try to move assets out of accounts or stash them somewhere that may be difficult to trace. One state may even give spouses the ability to hide...
Month: May 2020
A 401(k) may be divided in a divorce
You may be wondering how an Illinois court would treat your retirement accounts in a divorce. Even though Illinois is not a community property state, it will still divide your 401(k) to an extent in a divorce. This will require you to adjust your plans for retirement...
Business owners need prenuptial agreements
Business owners in Illinois who are planning to get married should strongly consider signing a prenuptial agreement before the wedding. This is a way of protecting their financial interest in their business in the event of a divorce. Without it, their business that...
