08/31/2026
Some of the hardest assets to divide are pensions, retirement plans, insurance policies, and stock options. These may not only have property interests, but may also be treated as income, either of which may trigger tax and other federal obligations. In Illinois, state law calls for the equitable division of property, but other jurisdictions may require consideration.
Equitable, in Illinois law, does not mean an equal division of property, but looks at property-based factors such as marital or individual property, the abilities of each spouse to earn a living after divorce, and health.
While some couples may be able to agree how to divide their property without a trial, some couples can’t agree or the properties are too complex for simple division. In these cases, a judge in the Illinois Circuit Court will divide the marital estate following a trial prior to granting a Judgment of Divorce.
It is wise for each spouse to hire an attorney who provides forensic accounting. An attorney who provides forensic accounting will track down, catalog, and value the joint property to present as evidence to a judge. This is especially important for finding hidden assets, or dealing with complex issues of retirement benefits, pensions, stocks, or bonds.
Learn more by visiting our website.
https://www.nottageandward.com/divorce/financial-assets.html
