Many Illinois residents who have spent their lives working are likely looking forward to the time when they can retire. If so, they have possibly saved up a considerable amount of money in retirement funds. What individuals should be aware of, especially in the case of a high asset divorce, is that those funds could potentially be split in the event of a marital separation.
Many parties may not think of retirement accounts when they are trying to determine what aspects could be up for property division. As a result, some individuals may miss out on money that could potentially have been divided during the divorce process. Of course, different types of retirement funds may fall under the governance of different laws, and spouses may want to understand how their situation could be affected.