When parents go through a divorce, they often wonder what will help their children cope during the process. Some try to take the focus off the divorce, sometimes to the point that they are unintentionally minimizing its impact on the child. Others try to cater to their child’s wants and needs, sometimes to the point that the child does not ever truly feel the complex emotions that children of divorce often experience. Sadly, this can ultimately stunt the child’s emotional and psychological growth. Learn what you can do to help your child deal with the divorce process in a healthy way, and discover how a seasoned attorney can assist you with the process.

Your Actions and Behavior in Divorce - Why It Matters

Parents sometimes mistakenly tell their children that the divorce “is between the adults” and “has nothing to do with them” when, in fact, nothing could be further from the truth. Yes, while the divorce proceedings are truly about the parents and their decision to end the relationship, it is important that parents avoid behaving or acting in ways that inadvertently minimize the impact that the parents’ decision has on the child. Their entire life is changing.

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Couples who have raised children often look forward to their retirement years because they consider it well-earned time together. However, many baby boomers are finding they are no longer compatible with their mate, or that they no longer want to spend all that uninterrupted time with one another. In fact, divorce rates for those over the age of 50 have more than doubled in the last decade. Unfortunately, that increase in divorce is creating some serious financial issues for this demographic group - sometimes to the point that it completely derails their plans for retirement. Learn how a seasoned Illinois divorce lawyer may be able to help you protect your assets and increase the chances of a healthy financial future during your gray divorce.

Divorce, Retirement, and Your Pension Plan

When parties plan for retirement, they are generally only accounting for one set of expenses. Divorce can double the expenses, and it requires that the parties split whatever assets they have. In short, there is less money to go around, and more expenses to cover. For some, this may mean downsizing or living a less luxurious life during their retirement years. Others may have to give up plans that they had made (i.e. traveling). Still, there are some who may be at a significant risk for divorce-induced poverty. Whatever your circumstance, rest assured that there are strategies that one may use in divorce to help protect their assets and financial future.

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Few couples enter a divorce, planning to fight and argue. Yet, when they start to discuss touchy issues like money, assets, and children, tempers can quickly flare. Thankfully, there are some tips that you can use to avoid a messy divorce - and none rely on the actions of your spouse, meaning you can still attempt for a relatively amicable divorce, even if your ex becomes vengeful.

Focus on the Best Interests of Your Children

Parents who remain mindful of their child’s needs often fare better, even if their spouse starts to act out. That is because they understand that children usually cope better with divorce when they are able to have a healthy, continued relationship with both parents. They are less focused on “winning,” and more concerned about what their child needs and wants most.

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Divorce can be an expensive process, and there are many financial pitfalls that can further increase its cost. For the wealthy, things are about to get even riskier. Starting in 2019, the tax credits afforded to those paying alimony will be gone, and that can lead to some significant financial losses. The cost is so great, in fact, that many financial advisors are telling their clients to get divorced before the beginning of next year. Unfortunately, this may not be the best option for your case.

For the Love of Money - Rushing Your Case Could Have Severe Consequences

Money is one of the biggest and most frequent sources of contention in divorce - and for good reason. You may already have to scale back your life to accommodate the division of assets that typically occur in a divorce. What is more, you may be ordered to pay alimony to your former spouse. Should this happen, you may want to try and avoid the loss of the tax credit.

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In an Illinois divorce, parties are supposed to equitably split their assets. Unfortunately, there are spouses who will go to extreme lengths to conceal marital assets so that they can obtain more than their fair share. This act, known as asset hiding, often begins long before the start of a divorce, which can make it all the more difficult for one to track down hidden money. Thankfully, disadvantaged spouses do have some resources at their disposal. Learn more about them in the following sections, and discover how a seasoned divorce attorney may be able to help you determine whether asset hiding may have been an issue in your marriage.

Women Uncovers Multiple Properties in Divorce Proceedings

For decades, an Australian woman lived on a strict budget. Her husband, who worked and handled all the finances, had told her that they did not have enough money to meet their basic living expenses, so she scrimped and saved as much as she could while raising their children. When she finally decided to leave him, she went to an attorney to try and determine how much her settlement might be. That is when her attorney discovered that he owned a total of 15 properties. The woman, shocked but also relieved, sought her fair share of the assets. Her lawyer managed to get her a settlement that amounted to half of all the marital assets. While it is unfortunate that she did not discover the assets sooner, the outcome of her case was positive because, for the first time in her life, she could live comfortably.

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