Divorce Archives

Advice for women going through a divorce

Women in Illinois who are going through a divorce and have children are likely concerned about the impact the divorce is going to have on their children. In a recent poll, almost three in four women said that they were concerned about their children's welfare after divorce and about their ability to provide financially for their children.

Prenuptial agreements can benefit anyone

Prenuptial agreements can be ideal for almost anyone who is strongly considering getting married. It can spell out the terms of an eventual divorce, and it may allow a person to keep a business or other valuable assets that they are bringing into the marriage. It can also allow one or both parties to the relationship to waive their right to alimony. If a right to alimony is not waived, a prenuptial agreement can still determine how alimony payments are to be structured.

How a divorce financial specialist may be helpful

There may be advantages for some people in Illinois in engaging a divorce financial specialist during the divorce process along with other legal and financial professionals. Divorce can have a significant effect on a person's finances over the long term, and people may not always understand the ramifications of the financial settlement they are agreeing to. This can be particularly true for people who have not been very involved in the family finances.

Homes aren't always worth keeping in a divorce

Illinois couples who decide to end their marriages may have many questions to answer as they settle their divorces. One of those questions may be what to do with the house that they shared while they were together. Usually, divorcing couples will choose to either sell the home immediately or share it until it can be sold at a later date. Often, a home sale is delayed because it's in the best interest of a child.

Divorcing business owners may have unique concerns

Divorce can carry serious financial consequences that persist long after the emotional issues have been settled. For business owners, this can be especially challenging. When owners of a closely held businesses divorce, they could wind up selling the business or sharing it with a former spouse in an attempt to achieve a property division settlement.

Prenuptial agreements for entrepreneurs

A 2016 survey of matrimonial attorneys in Illinois and around the country revealed that prenuptial agreements are becoming far more common. These agreements are often created when wealthy individuals are planning to marry and wish to protect their assets, but they are also becoming popular among entrepreneurs who have ideas that they believe will blossom into thriving businesses. Having a signed prenuptial agreement can also make it easier for entrepreneurs to raise the funds they need to get their commercial ventures off the ground.

Choosing to sell or keep the family home in a divorce

Divorcing spouses in Illinois and around the country often find it difficult to decide how to deal with the marital home. The family residence is usually the most valuable marital asset, but it can be hard for spouses to put their emotional attachments aside and concentrate on financial considerations. The two basic options are selling the house and dividing the proceeds or one spouse remaining in the home. In either scenario, the first step is to determine how much the property is worth.

Some personality types make divorce more likely

There are many reasons why people in Illinois may decide to divorce, but scientists point to certain personality types as more commonly linked to the end of a marriage. If people do not take care to curb problematic behaviors and interactions, they may run into serious relationship problems down the line. Divorce lawyers interact with many couples who have decided to end their relationships, and they note that there are certain common factors they often encounter. One of the most common traits linked to divorce is the tendency to catastrophize or excessively exaggerate relatively small matters into major crises.

Steps to get past a divorce

Divorce can be a traumatic experience for Illinois residents, and it could lead to problems such as alcoholism or depression. However, there are steps that a person can take to make the end of a marriage easier to process. For instance, it is generally a good idea to lean on family members and friends for support. Trying to keep feelings bottled up is generally considered to be unhealthy and can lead to greater emotional problems in the future.

Researchers study relationship between divorce and finances

According to a new research study, the link between financial hardships and divorce is mitigated when couples in Illinois start their marriages with high-to-moderate satisfaction with their relationships. People who felt dissatisfied in the early years of their marriages were the most susceptible to reduced marital satisfaction if they also faced economic disadvantages.

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