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Naperville divorce attorney financesIt is a sad statistic, but over 50% of marriages will end in divorce. Ending your marriage is not something that you decide to do spontaneously, but a decision that is weighed heavily before you act upon it. If you are planning on a divorce, it is important to think ahead and prepare for what you want your life to look like after the divorce has been finalized. This will help you avoid making irrational decisions and make sure that you come out of the situation with a plan for success. You will want to be sure to consider the following areas:

Finances

It is important to have a firm understanding of your financial situation before you file for divorce. This is necessary so that you know how much you will need in order to live independently. If you are seeking spousal maintenance (alimony) or expect to receive child support, you should consider how these payments will factor into your overall financial situation, but it is best to plan conservatively and limit your expenses as much as possible. Even if your divorce is mutual, both you and your former spouse will each be trying to gain as much financial advantage as possible, so you will want to be prepared for multiple possible outcomes.

Job Security

Regardless of how much alimony or child support you may receive, it is important to develop your own financial independence. If it seems that you might struggle to make ends meet on a single income, consider going back to school or enrolling in a work-training program to further your job qualifications. If you start your training or school before beginning the divorce process, the money spent to further these goals may be considered marital expenses rather than separate expenses.

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Though money is one of the most common causes of divorce, it is not an issue that ends because of divorce. In fact, many couples find that their financial woes are just starting. To make matters worse, they must somehow find the time to manage the legal and financial aspects of their divorce while also coping with the emotional stress. It is no wonder so many find themselves overwhelmed! Combat this problem with help from the following information on the most common and complex divorce-related money issues.

Asset Division

Regardless of whether you have a little, or a lot, division of assets can be highly complex. This is because what was once intertwined must now be unraveled. Businesses, which may have been invested in by both spouses, must be valued and divided. Homes, vacation property, investment properties, and other real estate must be valued. Some may even have to be liquidated to ensure adequate division of their value. Then there are retirement and pension accounts, bank accounts, artwork, furniture, family heirlooms, and other possessions.

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Social media has become an integral part of most people's life. They share what they had for dinner, recent photos of their pets, exciting news of a pregnancy or job promotion, and even the loss of a loved one. There is such a thing as oversharing, though, especially when it comes to those who are pursuing a divorce. In fact, anything and everything you post, from now until the divorce has been finalized, could be used against you in court. The following information can help you understand what information might make its way into court, and how you can best protect yourself during the divorce process.

Most Forms of Digital Communication Admissible in Court

The first thing you need to know about your digital content is that most of it - from text messages to Facebook posts to emails - is admissible and able to be used against you. In other words, you will need to safeguard your phone and change all of your passwords. Most of all, be sure to keep your content free of any incriminating evidence that could be used against you or somehow misconstrued to portray you in a negative light during your divorce.

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