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June 2016 Archives

Splitting of assets during divorce is equitable in Illinois

In Illinois, marital property is divided in an equitable manner in divorce. However, the term equitable does not mean equal. Property may be divided in a wide range of ratios during divorce -- for example, 50-50 or even 60-40 -- depending on the circumstances surrounding a person's case.

Getting a divorce quickly may be wise if marriage is toxic

Ending a marriage in Illinois can seem scary, especially for those who have been married for long periods of time. However, getting a divorce is a wise move for those who simply cannot make their marriage work. Divorce is especially important in a couple of situations.

Being proactive with finances can help after divorce

A divorce can be emotionally draining. It can also significantly impact personal finances. This is true no matter what a person's net worth may have been before the proceedings started. A couple of tips may help individuals to take care of themselves financially during and after an Illinois divorce.

Decisions made during divorce may have tax-related effects

Tax season can be a complicated time for anyone in Illinois, but it may be especially challenging for those who are going through the process of divorce. The wrong decision during a divorce proceeding can have negative tax implications down the road. Some tips might help people to make smart decisions that will benefit them tax-wise in the years to come.

Wise decisions may prevent bankruptcy following divorce

Divorce is often a stressful process because of both the financial and emotional components of this type of family law proceeding. Unfortunately, the divorce process has the potential to cause a person to go bankrupt. A few tips may help people in Illinois protect themselves financially in divorce.

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