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Divorce Archives

Divorce on the decline

When couples in Illinois get married divorce statistics are probably the last things on their minds. Still, many experts believe that marriages have roughly a 50 percent chance of succeeding although recent studies show that actual divorce numbers are declining.

What happens to student loans after a divorce?

Illinois residents whose spouses have student loan debt and who are getting a divorce might be responsible for a portion of that debt. If it was acquired prior to marriage, then the debt will belong to the person who incurred it. If one person received the student loan after getting married, then it may be considered shared marital debt.

How divorce may affect older women financially

Baby boomers were twice as likely to get a divorce in 2010 as the same age group was in 1990, and according to research, this may leave women in a particularly financially vulnerable position. According to the National Bureau of Economic Research, women who divorced later in life are more likely to remain in the workforce between the ages of 50 and 74 than women who remained married.

Options to resolve child custody issues

Illinois parents who are going through a divorce will need to determine how to handle child custody. While it would be ideal for both spouses to always agree on how to co-parent their children after a divorce, this is not always the case. When differences do arise, there are several options available to the couple.

Deciding who gets the house in a divorce

Illinois couples who are getting a divorce may need to think about what they will do with the family home. If they are not able to come to an agreement on the issue, a judge may make the decision, and the couple may have no recourse. A judge might decide to give the home to one person and a retirement account to the other. While the person who gets the home might be happy with this decision, it might not be the best outcome financially due to the cost of maintaining the home.

Prenuptial agreements should address basic issues

Illinois couples who are excited about their upcoming marriage might not want to discuss a future divorce, but good reasons for establishing protections with a prenuptial agreement exist. Common motivations for creating contract terms if the relationship dissolves include different levels of wealth and debt between the partners, property ownership and citizenship. When people decide to negotiate a prenuptial agreement, they should make decisions about assets, spousal support and estate distributions in the event of death.

Why work with an experienced attorney in divorce? P.2

Last time, we began looking at a smartphone app marketed as helping those considering divorce to cut out the involvement of attorneys in the early stages of divorce, which is sometimes called divorce planning. Without actually taking a look at the app and seeing the features of the program and the kind of advice and direction it is giving, it is hard to make judgments about it.

Why work with an experienced attorney in divorce? P.1

A do-it-yourself approach can work for some people for some things. Maybe you want to add a deck to your home, or do some landscaping, or remodel your bathroom. Maybe you want to build a homemade outrigger for your kayak or make your own organic toothpaste. Taking the DIY route for such matters can work out well for some, particularly when the risk of loss, injury or failure isn’t that significant and the individual contemplating the project is reasonably competent or capable.

Looking at the rules governing premarital agreements, P.2

In our previous post, we began looking at some of legal rules governing prenuptial agreements here in Illinois. As we noted, prenuptial agreements must be set forth in writing and signed by both parties. We also pointed out that premarital agreements may not deal with certain matters, but that there are a lot of possibilities in terms of what couples are allowed to address.

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