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Posts tagged "Divorce"

What are 3 pitfalls of divorce?

Going through a divorce doesn't have to be difficult, but more often than not, there are a few snags in the process that might cause disputes or delays. There are often financial concerns to worry about, which can weigh heavily on your mind.

Divorce rates: Declining, but marriages are, too

If you have heard that divorce rates are declining, then you might think that is a good thing. However, just saying that divorce rates are declining isn't the whole story. In fact, while the divorce rate has dropped by around 18 percent between 2008 and 2016, that isn't actually accurate when you look at the whole picture.

Spousal maintenance may help financially dependent after divorce

Going through a divorce can deal a financial blow to a person in Illinois, especially if the individual has been financially dependent on his or her soon-to-be-ex. Fortunately, spousal maintenance may be awarded if one divorcing party has a monetary need and the ex has the ability to pay. Spousal maintenance can be either permanent or temporary depending on one's situation.

Prenuptial agreements prove important during divorce

Getting married in Illinois can be both exciting and scary -- exciting for those who believe they have found their soul mates -- but also scary due to the fact that the marriage may not work. This is particularly a concern for those who are entering into marriages with valuable assets, as a divorce can cause them to lose a bulk of these assets. This is why drafting a prenuptial agreement may be a wise move to make before getting married.

Dividing 401(k), 403(b) can be tricky during divorce

One of the touchiest parts of going through a divorce in Illinois is figuring out how to split assets with one's spouse. This is because the decision made during a divorce regarding assets has a long-term impact on a person's financial situation long after the divorce has been finalized. Retirement assets, such as a 401(k) or a 403(b), can especially be challenging.

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