There are many reasons why a couple chooses to separate. But there are some common elements that can cause rifts between married couples and Illinois couples who decide to divorce are no exception. Research has shown that finances seem to be one of the major things that can wreak havoc in a relationship and socioeconomic status also plays a role in whether a couple remains together or drifts apart.
Most children are like little sponges -- they soak up whatever emotions are around them and they are also very in tune to what their parents are feeling. As such, children in Illinois whose parents' are going through a divorce may be influenced about how they see the divorce by the way their parents act in general and toward each other. In fact, parents can actually influence their children about how they view the divorce and what roles they believe they play.
The end of a marriage can be stressful for many estranged Illinois couples. Some of the issues that they have to confront when they are attempting to negotiate a comprehensive settlement agreement include alimony and child support, but they often fail to take into account one important factor, and that is procuring a life insurance policy on the party that will be required to make those payments.
The process of a divorce can leave Illinois residents very angry at their estranged spoused, but it is best to try to avoid expressing it, even if the spouse provokes it. It might feel satisfying in the short run to snap at a spouse or even to confront them at work or on social media, but over the long run, this may backfire.
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.
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.
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.
A growing number of people in Illinois and across the country are choosing to divorce later in life, which may require additional thinking about retirement planning. Retirement funds are often some of the largest assets held by a couple during a divorce with many couples holding accounts through employers as well as private IRAs. People may negotiate the division of their accounts in a number of ways. When both spouses have large retirement funds in their own name, they may just walk away keeping their own accounts. On the other hand, when the bulk of the investments is held in one spouse's name, a substantial division is a likely outcome.
Some married couples in Illinois have used a postnuptial agreement as a way to reset their finances and protect their assets in case of a divorce. This document is similar to a prenuptial agreement. The main difference between the two documents is that a postnuptial agreement is signed during marriage and a prenuptial agreement is signed before marriage.
In the past, many people in Illinois considered prenuptial agreements to be limited to those with generational family wealth or major celebrities. However, a growing number of people have chosen to negotiate a prenup before they marry, especially as more people choose to wed later in life or after developing a burgeoning career. More people bring property and children of their own to their marriages and may want the additional preparation and planning that a prenup provides. Some of the issues addressed by a prenuptial agreement may also arise after a couple has already married, however.