Posted on December 00, 0000 in Divorce

Have you ever consulted with an accountant, analyst, or financial planner? For many people, working with a financial professional is something that only the wealthy need to worry about. Of course, there are those who would suggest that it is through working with financial advisors that many are able to become wealthy, but that is a topic for another day. Regardless of your income or tax bracket, however, divorce can be one of the most economically complex processes that you will ever be forced to navigate, and to get through it, the help of a financial professional may prove to be absolutely necessary.

Division of Assets

Allocating marital property is among the most challenging concerns for a large number of divorcing couples. It can be nearly impossible to determine what is fair and equitable if both spouses do not have a clear of understanding of the value of each part of the estate. A real estate appraiser, for example, can provide an accurate valuation of your home, while a retirement professional can help you analyze the current and expected value of pensions, 401(k) plans, and other investments. These considerations must be made before you and your spouse can split your assets, and doing so can allow you both to feel that you have been treated fairly.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

While marriage and divorce are very personal decisions, social trends regarding the two are often tied to a large number of other factors. While an individual couple may be taking into account their own circumstances, the economic strength of the country as a whole may play a fairly significant role as well. In fact, according to recent studies, since the 2008 recession in the United States, the overall divorce rate has dropped by about 3 percent.

Marriage Rates Slightly Up Too

Reports from the Centers for Disease Control and Prevention (CDC) indicate that the divorce rate fell again slightly in 2014 from 3.3 divorces per 1,000 total population in 2013 to 3.2 per 1,000. While the divorce rate spiked slightly between 2009 and 2011, it has since been steadily falling from its 2008 rate of 3.5 per 1,000 people.

For the first time in 15 years, however, 2014 saw a rise in the marriage rate as well, bumping up from 2013’s 6.8 marriages per 1,000 people to 6.9. The increase, while not particularly large, represents a reversing of a long-term downward trend.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

You probably know at least one person, if not many people, who emerged from a divorce and jumped almost directly into a new romantic relationship, often before the ink even dried on their paperwork. Depending on the situation of your marriage and divorce, you may find the idea of new romantic partner extremely appealing. However, you may want to take a step back and consider if you are truly ready for a new commitment so soon.

Divorce and Grief

Mental health experts regularly suggest that the psychological and emotional effects of a divorce are very similar to those associated with the death of loved one. As with death, grieving the end of your marriage is a process and not an event that is over after a specified amount of time. Every person grieves differently, and there is not right or wrong way to move through it. This means that while some people may be ready to date again right way, others may not be emotionally prepared for months or even years.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

Any time researchers try to find trends in the divorce rate, there is always a certain “which comes first” debate that takes place. For example, when looking at professions or occupations that are more prone to divorce, the question must be asked, “Does this profession increase the likelihood of divorce or is the type of person more prone to divorce, for whatever reason, more inclined to work in this field?” Whatever the case may be, there is little question that divorce is more common among those who work in particular industries or jobs, and many such occupations have very similar stresses and pressures.

Police, Firefighters, and Military Personnel

While it is difficult to imagine modern life without individuals who have committed themselves to public safety and national defense, these jobs are not without their downsides. Police officers and fire fighters often work long shifts, with a great deal of stress added to the equation. Servicemen and women spend months at a time away from their spouses and families, frequently leading to communication issues and deteriorating relationships

Continue Reading ››

 Posted on December 00, 0000 in Divorce

Back in late summer, headlines across the country were ablaze with stories about the hack and dump of the personal information of millions of subscribers to the website Ashley Madison. The site, which promotes itself the top source for finding an adulterous relationship, is well-known for its infamous motto “Life is short. Have an affair.” In the months that followed, divorce attorneys around the country dealt with the fallout, as many relationships were unable to withstand the implications of infidelity.

Blackmail Attempts

In December, reports began to surface that some of the site’s subscribers were receiving letters and emails threatening to expose them. While security experts do not believe the letters were sent by the same group that originally hacked Ashley Madison, the demands for money in exchange for silence were definitely disturbing. Such blackmail threats are even thought to have contributed to the suicide deaths of at least two users in Canada.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

The first court document filed in a divorce is a petition for the dissolution of marriage. Once you have been served the petition you typically only have 30 days to file a response. The way you respond to the petition will affect the rest of the divorce process.

Timing of the Response

The usual deadline for a response to the petition is 30 days, but sometimes more time may be required. Lawyers often ask for extensions to the deadline to both avoid a default judgment and to make sure that there is adequate time to properly prepare the response. However, the deadline to file will not be extended too long because nothing in the divorce case can continue until the response is filed.

Response Basics

The basic purpose of the response is to answer the allegations made in the petition. The initial filing contains certain facts about the marriage, including the length of the marriage, the residency of the spouses, and that the marriage was a lawful marriage. It may also contain other allegations about the fitness of one spouse to be a parent, the length of separation, and many other facts and claims.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

When you and your spouse have reached that point at which divorce has become more than a nebulous possibility, you need to begin thinking seriously about the future. Of course, making preparations for your post-divorce life are important, such as finding a new place to live and re-evaluating your household budget based on your own income. The process itself will also require a great deal of consideration and there are some things you can to reduce stress and eliminate uncertainty.

Commit to Cooperate

There is no law that requires your divorce to be chaotic and contentious. In fact, there are several statutory provisions that expressly encourage amicable negotiations and settlements. This will require you and your spouse to dedicate yourselves to a spirit of cooperation from the very beginning. Doing so can allow informal discussions to begin immediately, which can later evolve into a legally-binding formal agreement. As you might expect, the initial commitment is merely the first step, and you may need to remind yourself along the way why working together is preferable to other alternatives.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

For most couples who have been divorced, there was probably not a single moment that suddenly clarified their decision to end the marriage. It, more likely, was the combination of many factors that ultimately led to the split. In many cases, spouses begin to think about divorce long before it ever becomes a reality, and often ask themselves similar questions.

Before contacting a divorce attorney, you should be able to clearly address, at least in your own mind:

Do You Want a Better Marriage?

Or, do you just want out? You may recognize serious problems in your relationship, but that does not necessarily mean that you no longer want to be with your spouse. If you can identify particular areas of concern, working on your marriage may be an option. Conversely, you may be ready to be done with your spouse, realizing that your relationship is not healthy for either of you.

What Have You Added to the Problems?

Continue Reading ››

 Posted on December 00, 0000 in Divorce

Everyone “knows” that half of all American marriages end in divorce, which means the divorce rate is probably right around 50 percent, right? Comparing U.S. Census Bureau’s numbers on marriages and divorces in a given year, this commonly-cited “fact” appears to be completely true. The reality is, however, that numbers without context can be extremely misleading, especially when you consider that marriages and divorces in the same year are not really related to one another.

A Look Behind Numbers

It makes sense when you think about it: couples who are getting married this year—with maybe a few exceptions for remarriage cases—are not the same couples who are getting divorced. The couple applying for a marriage license at the courthouse have very little to do with the couple down the hall filing a petition for dissolution. In fact, according to some research, the divorce rate of those marrying in the 1990s or later closer to one-third than to one-half.

Continue Reading ››

 Posted on December 00, 0000 in Divorce

If your marriage has been affected by a cheating partner, it is only natural to want some type of retribution. Some individuals will use their partner’s infidelity as a justification for their own adulterous acts—though most relationship experts advise against revenge cheating. Others, especially those who have decided to end their marriage, may believe that a financial penalty should be in order. While the law in Illinois does not allow the court to award extra money or property to the victim of a cheating spouse, there are some ways your unfaithful partner can be held at least partially responsible.

Infidelity Clauses in a Prenuptial Agreement

The Illinois Marriage and Dissolution of Marriage Act expressly forbids a judge from taking marital misconduct—like cheating—into account when dividing marital property or determining spousal support in a divorce case. There is, however, nothing that says that you and your spouse cannot agree to penalties for infidelity in advance. An increasing number of prenuptial agreements around the country are being drafted with infidelity clauses that prescribe a monetary or property consequence for acts of unfaithfulness. For example, you could agree—voluntarily, of course—that if you cheat, you forfeit a certain percentage of the marital estate that would otherwise be allocated to you. As long as your agreement is reasonably fair, the court would be hesitant to supersede it.

Continue Reading ››