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Financial situations divorcing women do not expect

When people dissolve their marriage in Illinois, they have certain expectations as to how their lives will change once the judge issues a divorce decree. Women tend to focus on issues related to child custody and parenting time. For this reason, they are more likely to run into unpleasant financial surprises after the divorce is finalized.

Women, divorce and finances

Women in Illinois who get a divorce are likely to experience unexpected and unpleasant financial issues. In one survey that was conducted, 46 percent of women who had gone through a divorce stated that the process had resulted in financial surprises.

The biggest reason couples get divorced

With almost half of all marriages in the United States ending in divorce over the past few decades, it should come as no surprise that divorce has become a very prevalent part of American culture. What the citizens of Illinois may find surprising to learn, however, is that regardless of the reason behind the dissolution of the marriage, the common theme that seems to underlie most divorces tends to be money problems.

Don't forget your estate during the divorce

While estate planning might not be at the top of the list of things to do during a divorce for Illinois residents, it should not be forgotten because it can have powerful consequences in both the short and long term. There are some modifications that should be done during divorce, while others need to be made when the divorce is final.

Dispute resolution methods for people getting a divorce

When two people choose to dissolve their marriage in Illinois, they will have to reach mutual decisions about property division and sometimes child custody and support. Amicable parties might come to terms quickly and settle their divorce by filing court paperwork themselves, but disagreements frequently arise. To resolve disputes, people have the options of mediation, arbitration and negotiated settlements that might include a judge making the final decisions.

Tax reasons to divorce in 2018

People in Illinois who are contemplating getting a divorce should consider whether it would be beneficial for them to finalize their divorce in 2018. They should be aware that certain tax changes that have resulted from the passage of federal tax laws become effective in 2019 and will affect financial decisions related to divorce.

Who gets the dog? Pet custody in Illinois divorces

You know that your fur baby is part of the family, but judges in Illinois have long approached the question of who will get the pet in the divorce as a property division matter. If you are planning a divorce, or you are already in the middle of one, you may be relieved to know that a new state law treats your pet the same way you do: as part of the family.

Parents’ actions can protect children from divorce conflict

Your divorce can be one of the most stressful events of your life, but once it is over, you may begin to heal and move on. However, a divorce can be even more traumatizing for children. Seeing their parents fight and break up is heartbreaking and confusing, as our team at Parker & Parker Attorneys at Law understands. It is important for Illinois parents to cooperate while co-parenting, even if they do not get along, to help their children recover from a divorce.

Dividing retirement assets in a divorce

Illinois residents may not realize that retirement savings are among the assets which need to be divided after a divorce. The way these savings are split can differ depending on the type of retirement plan people have, and it is important to understand the different ways retirement savings can be divided.

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