During a divorce, couples frequently clash over the division of property. In many cases, each spouse believes they contributed to all of the assets and should receive equal benefits from them. Each state determines how assets should be divided in a state, and Illinois...
In Illinois, a divorce can be a financially complex process. If one or both parties has a retirement account, such as a 401k, then dividing it can require untangling dense plan rules and offsetting financial settlement components. Retirement Plans and Divorce Unlike...
Illinois residents who go through a divorce have different financial concerns once it has been finalized. Their budgets are often tighter as they have less money to spend on consumables. Refinancing a mortgage on what was once the family home can help free cash and...
Divorcing couples in Illinois have to navigate a lot of rules when splitting their retirement assets. Whether the couple is splitting an account down the middle or transferring it to one party, there are steps to getting the desired end result. IRAs and taxes A...
If you are a divorced resident of Illinois who is planning for retirement, you should not overlook the possible Social Security benefits you can claim based on your ex-spouse’s work record. This might be a significant amount that can impact your financial security...
Many couples who divorce in Illinois choose to sell their home after a divorce because neither spouse wants to keep it. In some situations, however, there's conflict over who gets the house. So, you may want to go through mediation to resolve the dispute peacefully....
When married couples in Illinois divorce, handling the fallout is always complex. Remaining business partners adds another layer of emotional and financial obstacles to navigate during a divorce. While some couples prefer to split the business, some manage to maintain...
It’s natural to have a lot of questions about your finances when going through a divorce in Illinois. There’s a lot of uncertainty and expenses that go into separating your finances, not to mention planning for life after the divorce. Some Illinois residents employ a...
When spouses file for divorce, many different plans might run through their minds about post-marriage life. Upon dissolving the marriage, they generally go their separate ways and settle into new living and, possibly, working arrangements. Some may have serious...
The decision to seek a divorce is often the result of a long and difficult journey between spouses. When they have children, they might question their choice even more, particularly as they might struggle with the idea that divorce causes irreparable harm to children....
