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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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Wheaton divorce lawyer

Even under the most amicable circumstances, divorce signifies the end of a relationship, and that can be difficult for both parties. Unfortunately, divorce can also bring out the worst in people, especially if one or both parties feel wronged or slighted. To obtain the best results in your divorce, it is important to hire a reputable divorce lawyer to guide you through the legal process.

It is natural to want to do independent work apart from your lawyer to strengthen your case. Especially if your case involves infidelity or financial mismanagement, you may be thinking of using certain spy tactics to obtain hard evidence to use in court. However, this type of spying can be tricky, because some of these tactics are illegal, and evidence that was obtained illegally cannot be used in court. When attempting to uncover information during your divorce, you should speak with an attorney to find out which options are legal to use during your divorce proceedings.

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Wheaton divorce attorneyCan you blame your divorce on where you live? In most cases, the answer is “no;” divorce and place of residence do not usually correlate. However, if you live in Illinois in any of the ten cities listed below, your likelihood of getting divorced may be higher than for those in some of your neighborhood counties.

According to the U.S. Census Bureau’s American Community Survey, the number of divorced people in Illinois is close to 1,000,000 people. Throughout the United States, there are over 28 million people who are divorced. Note that the census defines “divorced” as people whose divorce has been finalized (not including married couples who are separated) and who have not remarried. Illinois is actually one of the states with the lowest divorce rates; at a rate of 9.7%, it falls below the national divorce rate of 10.9%

In Illinois, the city with the highest divorce rate is East Alton, a village in Madison County. The top 10 cities in Illinois with the highest divorce rates are as follows:

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wheaton asset division lawyerDivorce can be difficult for everyone involved. After you make the decision to divorce, you will want to be sure you will have the financial resources you need after completing the divorce process. During the divorce proceedings, you might be tempted to “rip it off like a Band-Aid” and get things over with as soon as possible. While this may seem like an easy strategy, it will not necessarily benefit you, and making decisions too quickly could result in significant financial difficulties in the future. Below are two important tips to keep in mind as you complete the process of dividing marital assets during your divorce.

Know the Liquidity of Your Assets

Liquid assets are assets that can be easily obtained and assessed, such as bank accounts, retirement funds, 401(k)s, etc. Other types of property, like a home or a car, are called illiquid assets, because while their value may be high, it can be a difficult process to sell that property at its actual cash value.

Marital property may be divided in a way in which one party receives liquid assets, while the other receives illiquid assets. However, for the party who received illiquid assets, such as the house, complications can arise. If the assets are tied up in the value of the house, they may struggle to pay expenses such as utility bills and property taxes. During the process of marital property division, it is important to make sure both parties have liquid assets, or else one party may need to sell their home in order to cover their basic living expenses.

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Posted on in Divorce

Wheaton Divorce AttorneyWhen a couple decides to get married, the thought of separation seems like an impossibility. Yet the rigors of an emotional relationship, raising children, and working full-time can put a strain on any marriage. When a marriage begins to present challenges, most people realize that a marriage takes work and that there will be good times and bad times. But when the bad begins to overwhelm the good, you owe it to yourself and your family to make a change. A divorce can represent an opportunity to start anew and live the type of life that you deserve. If you are considering a divorce, it is time to speak with a legal professional.

Aspects of an Unhealthy Marriage

When a marriage is no longer healthy, it is time to consider a divorce. While the divorce process can seem daunting, removing yourself from a marriage that is no longer working can ultimately be one of the best decisions of your life. Listed below are some of the most common reasons people choose to pursue a divorce from their spouse.

Lack of Trust: One of the pillars of marriage is the ability to trust your partner. Once trust has been splintered in a relationship, that relationship is no longer healthy or functional. A spouse can lose their trust for their partner for reasons ranging from infidelity to irresponsible parenting to reckless spending. If you can no longer trust your spouse to be a good parent, remain faithful to you, or spend responsibly, you need to look into filing for divorce.

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