When parents in Illinois get a divorce, the process and transition may be difficult for their children. However, how they behave toward one another and toward their children can make it easier. For example, parents should avoid arguing in front of their children. They should try to remain civil with one another, and if possible, they should take it a step further and try to plan one or two family nights together each month.
It can be difficult to have a successful marriage. For Illinois couples, challenges can sometimes grow so problematic that couples consider ending the marriage and getting a divorce. The reasons for divorce will inevitably vary, but there are certain basic issues that research shows precipitate many divorces. Understanding the warning signs is critical to making the decision to move forward with a divorce.
An Illinois home may be sold at the time of a divorce or a date that the couple deems to be appropriate. However, there are some instances in which keeping the home is a person's top priority. This may be the case even if an individual doesn't have children and simply wants the home due to its sentimental value. Determining how much the property is actually worth is the first thing that should be done.
The Pew Research Center reports that the divorce rates for people who are at least 50 years old is twice what it was in 1990. Older Illinois residents who decide to get a divorce should be aware of how a divorce can affect their retirement finances.
Some couples in Illinois might think of prenuptial agreements as tools that are only useful for wealthy people. However, since most divorces involve the division of property, a prenup can also be helpful for couples who do not have enormous incomes. It gives them the opportunity to establish what assets they want to keep separate and how they will divide shared income and handle spousal support in a calm environment.
When the possibility of divorce becomes a reality, Illinois residents in this situation might be concerned about how to pay for the divorce. With legal fees averaging about $15,000, financing a divorce can be the first challenge to overcome. However, there are a variety of ways residents can pay for their divorce process.
According to data maintained by the Bureau of Labor Statistics, it's becoming increasingly common for wives in Illinois and throughout the U.S. to earn more money than their husbands. Roughly 38% of wives are bringing home more income than their husbands, and that dynamic can cause problems in a marriage. Some research indicates that the risk of divorce increases and the likelihood of marriage decreases when the woman earns more than the man.
Ending a marriage is rarely easy, and the desire to get through the process as quickly and painlessly as possible sometimes leads divorcing spouses in Illinois to make financial decisions that haunt them for years to come. Many of these poor decisions are made during property division negotiations when assets such as real estate or automobiles are discussed. This is because these assets are often financed with loans that both of the spouses involved have signed.
Once a couple in Illinois decides to divorce, the next step is for them to fill out legal documents and file them at the courthouse. During this process, each spouse must decide how to divide his or her assets and money, including jewelry and financial holdings. While it is simple to split up books, DVDs and similar belongings, it is difficult to divide monies and properties.
Family law attorneys working in Illinois may be familiar with the processes involved in dividing assets in a divorce. Cryptocurrency assets are throwing a wrinkle in the equation, making it challenging for attorneys to advise their clients on the best ways to divide assets.
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