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Post-Divorce Financial SecurityWhen a couple decides that their marriage is no longer healthy, a divorce may be the best option. A divorce can provide a new start and a healthier living situation for yourself and any children involved. However, the divorce process can also be incredibly complicated, particularly when it comes to the division of marital assets such as bank accounts, retirement plans, and investments. To secure your financial security after divorce, the first and most important step you can take is to choose a divorce attorney you can believe in.

Here are three more things to keep in mind to protect your financial security in a divorce.

Avoid Excessive Spending Prior to Divorce

As a couple’s relationship comes to a close, it is entirely common to feel a wide range of emotions. In some cases, the emotions of an impending divorce can prompt reckless spending. According to Illinois state law, when a person spends marital assets for purposes independent of the marriage as the marriage is coming to an inevitable end, this is called dissipation of marital assets. Common forms of dissipation of marital assets include spending money on an affair, intentionally harming shared assets such as a car or family heirlooms, or buying expensive personal items for yourself. Before making any excessive expenditures just before or during the divorce process, speak with an attorney to make sure you understand the impact that such expenditures could have on the division of your marital property.

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Naperville divorce lawyerThroughout the United States, thousands of people pursue divorce each year, and the process of ending a marriage can be contentious and stressful. Due in large part to the stressors that accompany a divorce, many people make mistakes that can cost them both financially and emotionally down the road. It is important to remember that the first and most important step you can take as you prepare for a divorce is hiring the right attorney. 

Avoiding Costly Divorce Mistakes 

Many divorcing spouses make unwise decisions that are often due to strong emotions or a lack of preparation. Listed below are some of the most common mistakes that can plague a divorce:

  • Forgetting About Finances: As you separate from your former spouse, there are many details that need to be settled. Many of the most complex and important, aspects of a divorce revolve around finances. Failure to focus on the financial side of your divorce can result in the loss of valuable marital assets and a lack of future retirement funds, among other concerns. One of the first discussions you should have with your attorney is a dialogue related to your finances. Disclosing an accurate portrayal of your financial situation and ensuring that your attorney understands your financial goals can make all the difference in your divorce. 
  • Not Thinking About Children: Regardless of why a couple chooses to pursue a divorce, the process can become heated. However, when children are involved, it is important to keep a level head. The easiest and simplest way to develop a parenting plan is through cooperatively establishing a parenting schedule with your ex-spouse. If you are unable to reach an agreement regarding parental responsibilities, matters related to child custody will be settled in court, leaving the ultimate decision completely out of your hands. Putting emotions aside and working with your former spouse in a cooperative manner to reach an agreement can also be a valuable experience that will lay the foundation for your future cooperation as co-parents. 
  • Acting Aggressively: As mentioned above, it is not uncommon for divorces to become hostile. Still, acting in an aggressive or disrespectful manner toward your spouse is likely to have a negative impact on your divorce case. Even if you are justifiably angry at your ex, it is best to avoid criticizing them in public, such as on social media. When you are working with your attorney, your spouse, and their lawyer, it is wise to remain composed. Many issues surrounding a divorce can be settled through negotiations with legal counsel, or with the assistance of a third-party mediator. In the event that your divorce is settled in court, any aggression towards your spouse either inside or outside the courtroom can have a significant negative impact on the decisions made. 

Contact a DuPage County Family Law Attorney 

At the Stogsdill Law Firm, P.C., we understand how emotionally trying a divorce can be. As you navigate the difficult process of separating from your spouse, we are prepared to represent you diligently throughout the entirety of the divorce process. Hiring the right attorney can be critically important in protecting your financial health and the well-being of your children. Our attorneys are confident in our ability to help you secure a positive divorce settlement. To schedule an initial meeting with a Lombard divorce attorney, call us today at 630-462-9500. 

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5 Ways a Divorce Can be Healthier than Staying in an Unhappy Marriage

DuPage County divorce attorneyDespite the fact that over 800,000 divorces occur throughout the United States each year, many Americans still view divorce as a worst-case scenario. Divorce can bring a number of complications into your life, including child custody battles, disagreements about property division, and in many cases, a move away from your old home. However, for many married Americans, divorce represents a way out of an unhealthy relationship.

Why a Divorce Can Be Better Than a Bad Marriage:

According to studies conducted by The United States Census Bureau, 41% of first-time marriages end in divorce. While many Americans falsely believe that divorce represents a failure in their lives, in reality, divorce can represent the healthiest option for you and your loved ones. Below are five reasons a divorce could be the best decision you can make: 

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divorce and finances, divorce and retirement, qualified domestic relations order, qualified domestic relations order, Wheaton divorce attorneys, retirement plansAccording to US News and World Report, as many as 800,000 Americans are divorced each year. Divorces can be emotionally trying, psychologically challenging, and incredibly complicated. While most people struggle with the emotions of a separation from their former-spouse, it is important to have an eye on the logistical side of the separation. Understanding the financial implications of a divorce can make all the difference in ensuring a financially stable future for yourself post-divorce.

From retirement plans to the nuance of taxes, understanding how your financial situation will be altered after your divorce can be a tall order. If you are moving into a new chapter in your life and preparing for divorce, hiring an experienced divorce attorney can help ensure a healthy and sustainable financial future for you and your family. Consider the following fundamental tips that can help you help yourself during your divorce.

Preparing for a Hostile Separation

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Wheaton divorce attorneys,  divorce mistakes, divorce and finances, divorce process, divorce and communicationThroughout the divorce process, some couples allows their emotions get the best of them. From making rash financial decisions to refusing to make compromises that benefit the whole family, going through a divorce is never emotionally straightforward. If you and your spouse are considering a permanent separation, the most important step you can take for you, your resources, and your family, is hiring a knowledgeable divorce attorney.

Hiring a divorce can save you countless time, money, and emotional strife as you and your family go through the process of divorce. A competent team of legal representatives can help you answer questions of child custody, asset allocation, and complex tax issues. Consider the following mistakes a team of divorce attorneys can help you avoid.

Allowing Emotions to Boil

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