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Illinois family law attorney, retirement benefits during a divorceAn important part of a divorce proceeding is the division of property. An individual's pension and/or retirement accounts earned and/or acquired during the course of the marriage will be included as part of the marital property that is divided.

Pensions

Under Illinois law, both vested and unvested pensions can be considered marital property. Marital property is all property acquired by either spouse during the course of the marriage. Anything considered marital property must be divided equitably. It does not make any difference which spouse actually earned the pension or whose name the pension is in. An equitable division of property means that the property is divided fairly; however, it is not necessarily divided equally. In some cases, one spouse may be awarded a significantly greater amount of the marital property than the other spouse.

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