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April 2016 Archives

Common mistakes can be costly during divorce in Illinois

Whether in Illinois or another state, the divorce process can feel like a roller coaster -- not just emotionally but also financially. Unfortunately, failure to anticipate the twists and turns and to prepare for them accordingly may be costly. A couple of tips may help people to protect themselves during a divorce.

Divorce impacts Social Security benefits

The divorce process can be both emotionally and financially challenging in Illinois, regardless of how long two people have been married. However, timing a divorce properly may lead to financial benefits in the form of Social Security. People who are close to their 10th wedding anniversary may want to hold off on getting divorced until after they have married for 10 years, as this may lead to higher Social Security payments for those who have spouses with earnings that are higher than theirs.

What if my ex does not have our child's best interest in mind?

Addressing child custody issues with a stubborn or irrational ex can be extremely frustrating for everyone involved. This issue can be exacerbated by accusations of abuse or neglect by one parent. Ultimately, every child custody agreement should reflect what is in the best interest of the child.

Prenuptial agreement may help to protect business in divorce

When young people start businesses in Illinois, they often do not think about marriages or prenuptial agreements. Instead, these entrepreneurs are typically focused on securing startup capital and improving their products. These responsibilities understandably take precedence, but overlooking a prenuptial agreement before getting married can be catastrophic for one's business if one ends up getting a divorce.

Options available for handling a mortgage during divorce

Although an Illinois divorce can understandably be difficult emotionally, it can also be tough to navigate financially. One area that often causes contention during a divorce is the marital home. Approaching the mortgage in a financially sound manner may help each divorcing party to leave the marriage on the right financial foot.

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