February 2020 Archives

Expect to face some losses in a divorce

Divorce is a time of rebirth for individuals, and part of this is handling the losses that come with major growth like this. It surprises some people to know that they are going to feel a sense of loss when their marriage ends. Even if you're the one who ended the marriage, you're still likely going to deal with this.

Art collections at stake in high-asset divorce

When people in Illinois decide to divorce, it can lead to significant financial changes, especially when both spouses are wealthy or own valuable assets. Two divorces among art collectors, with each couple holding hundreds of millions of dollars in valuable artworks, have shined a spotlight on property division when high-value collectibles are involved. Asset division can be complex even when the assets being addressed are primarily investments or retirement funds; both parties want to protect their property and secure their financial future. However, the potential for dispute over these issues may escalate when unique items like art are at stake as both parties may want to retain ownership of particularly desirable pieces.

Why Americans over 50 are getting divorced

After 20 years of marriage, individuals may start to reconsider whether they want to remain with their partners. At this point, they may begin to realize that they are emotionally disconnected from their spouses. Research has shown that the divorce rate for individuals 50 and older doubled between 1990 and 2010. This is in spite of the fact that younger couples in Illinois and throughout the country are getting divorced less often.

The main reasons women file for divorce

Though divorce is often portrayed as an older woman being left by her husband for a younger woman, in over 70% of cases, it is the woman initiating the divorce. Women in Illinois have many reasons for bringing an end to a marriage, but their reasons usually fall into one of these categories.

Figuring out SSA benefit amounts after divorce

As Illinois residents near retirement, they might be concerned with how to pay bills during this period of their lives. For divorced residents, this might be an even more pressing concern. Figuring out what their social security benefit amount will be is important in budgeting for retirement. Some residents might also be entitled to additional benefits based on their ex-spouse's work record.

The best strategies available for co-parents

Going through a divorce in Illinois can be painful, no matter if the couple spent just a few years or decades together. While dealing with the emotional pain associated with divorce, parents also need to make good decisions for their children and help them cope with the pain they are experiencing because of the end of the marriage. The following strategies can help co-parents adjust to their new circumstances.

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