If you and your spouse have decided to end your marriage, is it likely that neither of you is looking forward to the property division phase of the divorce.One of the areas of concern is the division of your retirement accounts. How does this work? Looking at...
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Using text messages in divorce court
A lot of people tend to disassociate what they put on their phone with the real world. However, the things you text and post on social media can have a profound impact on the real world, especially as you head into divorce proceedings. Text messages can...
3 child healthcare concerns after divorce
Parenting in a post-divorce family often requires thinking outside the box. After all, if you share parenting duties with your former partner, you must be sure to consider his or her concerns. When it comes to your child’s healthcare, though, you may face...
Effective parenting in your post-divorce family
While divorce is often a heart-wrenching process, it may be the best option for you, your spouse and your children. Still, divorce may take a toll on your kids’ emotional wellbeing. By focusing on being a good parent, you help your kids adjust to a new way of...
Divorce after 50, retirement accounts and your future
If you are divorcing later in life, chances are, you have many kinds of assets to divide, including a home, your vehicles, perhaps a boat, valuable collections and, last but not least, retirement accounts.You must divide your IRA, 401(k) and your pension. You want to...
Benefits of a prenuptial agreement
Anyone planning on marrying soon needs to consider the advantages of a prenuptial agreement. This is a legal agreement wherein you can determine each person's financial obligations in the event of a divorce. Naturally, some people will be hesitant to discuss...
In an equitable distribution state, the keyword is “fair”
If you are facing divorce, you may worry about the property division phase of the proceedings, not knowing exactly what to expect.Illinois is an equitable distribution state in which the division of assets is fair but not always a 50-50 split. What it meansSome states...
3 ways to divide marital property in an Illinois divorce
Breaking up a marriage involves more than just you and your spouse going your separate ways, it also entails the complex process of dividing your marital property. One of the biggest questions you may have is what you are going to end up with after the split. The...
Consider the changing tax laws if divorce is on your mind
Timing is everything, and that is especially true if you are close to filing for divorce.Beginning in 2019, the changing tax laws will affect many divorcing couples, especially those who carry a high net worth. Taxes on spousal maintenanceAs of Jan. 1, 2019, spousal...
Getting a divorce? Here are three pitfalls to avoid
If your marriage is ending, you are probably experiencing a lot of overwhelming stress worrying about how to do everything correctly. The financial and emotional impacts of divorce may impact you for the rest of your life.There are a lot of common mistakes that...