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Are 401(k)s Protected From A Divorce In Illinois? - Russell D. Knight
From Law Office of Russell D. Knight - Are 401(k)s Protected From A Divorce In Illinois? examines whether retirement savings held in a 401(k) can be shielded from division when a marriage ends. The article explains that while 401(k)s are generally protected from creditors and even from claims in bankruptcy, Illinois law treats things differently when a divorce is involved. Under 750 ILCS 5/503, property acquired during the marriage, including contributions made to a 401(k) during that time, is presumed to be marital property subject to division.
The article walks through how Illinois courts…
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