When older couples in Illinois end their marriage, they may face some particular financial challenges. Divorce in this age group is on the rise, with three times as many people aged 65 and older getting divorced compared to 1990 and two times as many who are 50 and older. However, …

People in Illinois may already be aware that getting a divorce can have a significant impact on their current and future financial well-being. However, divorce seems to affect women more negatively than it does men. According to one 2008 study, divorced women tend to experience a drop in income by …

When Illinois couples decide to divorce, assets often need to be identified and disentangled. With the rise of cryptocurrencies, a new layer of complication has been added to the already-complex process of understanding marital assets. These digital currencies, like Bitcoin and Ethereum, often offer a high level of anonymity. They …

The decision to separate from a partner, regardless of how long the relationship has lasted, is a very personal one. Many couples experience a variety of emotions when the decision to separate has been made. This often leads to inadequate preparation. However, it’s important to note that being prepared can …

People in Illinois who are considering divorce may want to consider how 2017’s Tax Cuts and Jobs Act could affect the separation process. In 2015, over 600,000 taxpayers deducted alimony payments from their annual tax returns. Due to changes in the law, however, people who finalize their divorces after 2018 …