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Archive, December 2021.

One of the most pressing issues in any divorce is the identification, valuation, and division of marital property. Some assets are easy to evaluate and distribute during divorce. Others require assistance from financial and legal professionals.
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Many people see shoplifting as a minor offense as compared to violent crimes. Stealing from a big box store may even be considered a “victimless crime” to those who commit retail theft. However, Illinois law does not take retail theft lightly. Individuals convicted of retail theft may face misdemeanor or felony charges. The severity of the charge and the associated criminal penalties are based on the value of the goods allegedly stolen and the defendant’s criminal history.
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A crucial aspect of the divorce process is the division of the couple's assets and debts. Divorcing spouses may need to address the marital home, vacation homes, bank accounts, retirement assets, investments, business interests, and much more. However, to discuss these issues practically, both spouses must fully disclose their income, property, financial resources, and liabilities. Lying about finances, undervaluing property, or failing to disclose assets are all forms of financial fraud that can impact a divorce considerably.
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