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It can be difficult to focus on the financial aspects of a divorce when your entire life has been turned upside down, but doing so can drastically improve the outcome of your case. In fact, couples who financially plan for their divorce are typically far more prepared for their single life. They also tend to adjust to their new life sooner than those who are ill-prepared. Learn more about planning for the money-related aspects of your divorce, and discover how an experienced attorney can help.
Pull Your Credit Report
Obtaining a copy of your credit report before a divorce can benefit you in two ways First, it can provide you with a clear picture of where you stand, on your own, outside of the marriage. Pulling your credit report can also reduce the chances of your spouse opening credit accounts without your knowledge and, in turn, minimize the chances that they will run up debt under your name. Should you spot anything suspicious after pulling your credit, report it to the credit bureaus and your attorney.
Divorce can negatively impact all involved parties, but children are often the most vulnerable to serious and long-term effects. One of those possible effects is the emergence (or resurgence) of separation anxiety. Learn how to help your child deal with separation anxiety after divorce, and discover what an experienced attorney can do to assist.
Divorce and Separation Anxiety in Children
Although separation anxiety is most commonly associated with the toddler years, children of any age can experience it – especially if they are dealing with a difficult or traumatizing event. Death of a loved one, changes in their environment, and divorce are just a few examples. Most cases are minor and will resolve with time. However, more extreme cases may require the specialized assistance of a therapist, psychologist, or psychiatrist.
Recognizing the Signs of Separation Anxiety
Historically, experts have seen divorce as a negative childhood event. However, families and scientists are starting to find that this may not be entirely true. In fact, science has recently found that contention may be more of a factor in the development of certain childhood issues after a divorce and that contention can have a negative effect, even if a divorce does not occur.
Now science has made a new and equally interesting discovery. In previous studies, children of divorce were found to have a higher risk of divorce themselves. Experts have always considered that to be an environmental issue, but a new study suggests the effect could be genetic.
A Closer Look at the Study
In their study, researchers wanted to answer one simple question: why does divorce run in families? Their conclusion challenges everything we thought we knew about divorce. In examining the DNA of adopted Swedish children, researchers found a strong and consistent genetic link to divorce. Set to be published in an upcoming issue of Psychological Science, the study alter everything from how therapists work with distressed couples to what parents consider when deciding if divorce may be the next best step in their life.
The decision to file for bankruptcy is not one easily made, but those that know how to recognize the signs of serious financial trouble may be more prepared for the process. Those same indicators can help one determine when to proceed with the process. Learn what these signs are, discover what options may be available to you, and gain insight into how an experienced attorney can assist with the process in the following sections.
Combatting Common Bankruptcy Myths
Before one can truly determine if bankruptcy may be the appropriate path, they must first understand what bankruptcy is and what it is not. For example, many people believe that bankruptcy will result in a loss of all assets, including their home and personal vehicles. Thanks to the protection of certain excluded assets, this is not always the case. Yet, even if your home or primary vehicle is in jeopardy, it may be possible to negotiate an option that will work for you and your creditors.
Divorce during any stage of life can be financially devastating, but the effect is often worse as one nears retirement. Several factors play a part, including the lack of time to recover from any losses experienced during the divorce. However, it is possible to mitigate against the potential negative effects of a later-life divorce. Learn how, and discover what an experienced attorney can do for you during the process, with help from the following information.
Understanding the Potential Risks
Most couples plan for just one set of expenses in retirement. Divorce creates two sets of expenses, and it requires that all marital assets be equitably split. While many factors may be used to determine what this “equitable split” might look like, one can be almost certain that their nest egg will no longer cover all their expenses. As such, “gray divorcees” need a strategic plan before moving forward with the process.
Divorce can be a complete upheaval of your life, and it may even cost you some family and friends. Yet, as cruel as it sounds, life does go on. The trick is to know how to take those first steps to a more independent future. Whether you are the one who filed, were caught off-guard, are just starting out on your divorce, or have recently completed it, the following may be able to help you jumpstart your life and move forward after the divorce.
Do Something Nice for Yourself
After months of dealing with your ex, the courts, and possibly even creditors, you deserve to do something positive for yourself. Purchase an item you have been wanting. Schedule yourself for a manicure or a massage. Go out with friends and have a celebration. Do whatever your heart desires because you have just been through the wringer. Now it is time to reboot, recharge, and prepare for the future.
Seek Counseling or Group Support
When searching for an attorney to represent you in an Illinois divorce, it is crucial that you find one who can fit your needs. For example, an attorney who has limited litigation experience may not be the most suitable choice if you expect your divorce to be contentious. Take the guesswork out of the process. Ask each prospective attorney these three questions to determine if they may be a suitable fit for your case.
How Long Have You Been Practicing Divorce Law?
Although more experienced divorce attorneys will usually cost you more, the knowledge and connections they bring to the table are usually worth it. Of course, if you are trying to keep your divorce costs manageable, you could always turn to someone who has recently graduated law school. Usually zealous in their approach and eager to gain experience, they are often less expensive than more experienced attorneys, but you are taking a risk by hiring them.
Marriages typically start out with careful planning but few end in the same way. Instead, parties often walk into the process either misinformed or unaware of the statutes within their state. They may be confused as to what steps to take next, or when. Some may also fear that it could damage their case or cost them a portion of their settlement if their spouse learns they are researching divorce. Thankfully, there is a way to address many of these issues, as well as several others, by learning how to effectively prepare for an Illinois divorce.
What is Divorce Planning?
Although there are circumstances in which a divorce should be carried out as quickly as possible (i.e. domestic violence), most parties stand to benefit greatly from divorce planning. It is a process in which divorcing parties consult with an attorney and, in many cases, a financial advisor to ensure they have all the information they need to move forward. A plan and course of action are made, goals are set, and strategy is discussed. When ready, the individual can take that next step in divorce with confidence and peace of mind.
The decision to file for bankruptcy is not one easily made. There are many potential downsides, such as the impact to your credit and the potential loss of some assets. Yet, when the calls from creditors have become a source of constant stress, the negative consequences seem worth enduring to receive the debt relief that bankruptcy can provide. So just how do you decide if bankruptcy is the right option for you? Many debtors find that a comparison of the pros and cons can help. Learn more about them, and discover what an experienced attorney can do to help you through the process, with help from the following information.
Potential Bankruptcy Benefits (Pros)
Many of the benefits that can come from filing for bankruptcy, such as the protection from creditor harassment and aggressive collection actions, are well-known. However, there are several other, lesser-known potential benefits as well. Examples include:
Although some couples walk into a divorce knowing exactly what they want to do with the family home, others struggle with the decision for a while. Debt, the inevitable decrease in income that comes with divorce, concerns over maintenance and upkeep, and other important considerations may complicate discussions and negotiations even further. If this sounds like your current situation, the following information may help you with your decision.
Do You Want It, and Why?
Before you make any decisions regarding your home, it is important that you take the time to consider if you want it – and if so, then why? Is it so that your children can stay in the same school district? Are you unable to move to another home because of credit issues or a lack of personal income? Or is it possible that you know it is a poor decision to keep the home but have such a strong sentimental attachment, you cannot figure out how to let it go? The reason can help you decide if selling it or keeping it may be the better option.
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