Posted on November 21, 2017 in Property Division

Many couples today may be tempted to handle the details of divorce themselves, but they might not realize that this decision could potentially come with costly mistakes. Individuals considering divorce should be informed of all the potential tax ramifications and other details of separating retirement accounts. This and other property division concerns may have certain individuals in Illinois considering their options during the divorce process.

A retirement mistake can cost a person big time. Not only does one lose the growth potential of invested dollars, but a person may also have to pay out hundreds of thousands of dollars when the tax man comes knocking. If, during the dissolution, a person demands cash instead of transferring the retirement account in an authorized fashion, the tax penalty can come into play.

Individuals can choose to use the services of someone who is familiar with this type of service. In the event of splitting an investment account, a document called a Qualified Domestic Relations Order should be filed alongside the divorce agreement. This document, also called a QRDO, allows a couple to split important accounts and avoid any tax penalty.

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 Posted on November 16, 2017 in Child Custody

The most wonderful times of the year can be a little stressful, too. In between enjoying the company of family and celebrations comes the hustle and friction also. For families undergoing divorce in Illinois, that stress can sometimes be amplified. A detailed child custody plan along with a pinch of positivity may be the soothing balm for holiday flare-ups.

Who goes where, and when? There are a number of ways to settle care and visitation needs for a child. When the dust settles, and the family begins to implement the plan, feelings can pop up. One parent may feel sad or left out when the children are away, or it can be hard to hear about the child missing his or her other parent.

Some experts believe that approaching these issues with positivity can be fruitful. The basic guidelines are kindness, patience, gratitude and establishing new traditions. Remaining kind when thinking about how the other parent and child feels, and having the patience to understand may smooth the rough feelings. A person who is grateful for family, and also the new opportunities will probably feel more balanced. Creating new traditions will pave the path for even more happy memories.

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 Posted on November 07, 2017 in Divorce

A home is more than just a place to live. It's a place where memories are made. While some may see a standard kitchen, you see the place where your family gathered around for big Sunday morning breakfasts. And while others see the living room as a place to put the TV, you remember your son learning to sit up by pulling himself up along the furniture.

While these memories are certainly powerful, these memories alone should not be the reason for holding on to the family home after a divorce. Rather, you need to look at the big financial picture and do what makes the most sense for you and your family not only now, but also well into the future.

In this blog post, we will look at what some of the family home options are in divorce.

Option 1: Sell the family home
Buying a home is an investment. In fact, it may be the largest investment you ever make. A lot of time and thought - and paperwork - goes into buying a home. And while at the time of the signing, you and your spouse were no doubt excited, picturing living there for years to come, now that you are getting a divorce, you need to make a strategic decision on what to do with the family home.

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 Posted on November 07, 2017 in Divorce

With many big box stores breaking out the holiday decorations, it is safe to say it is officially the holiday season. Just thinking about all the shopping, planning and expectations can send any parent into a panic. However, for those who recently went through a divorce, the thought of the holiday season can be overwhelming.

Will the kids be with mom or dad? What about extended family? Do you need to have two Thanksgiving dinners? What about family traditions? These are just some of the many questions and concerns that commonly come to mind.

In this post, we are going to focus on a few tips for co-parenting this holiday season.

Tip 1: Listen to your child’s concerns

Whether the kids are with you or with their other parent, it is normal for your children to have concerns about how the holiday is going to go, especially if this is their first time splitting up holidays between their parents.

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 Posted on November 02, 2017 in Divorce

Divorce impacts your financial goals in many ways. Are you properly planning for life after divorce? The answer is likely no. Many couples get divorced every year in Illinois. Like most couples, you are probably concerned about the impact divorce will have on your finances, including your retirement plans.

You can take steps now to prepare for your divorce and the division of your assets. It is important to work closely with your divorce attorney to create a strategy that will protect your interests. However, understanding the basic issues that may arise during your divorce when it comes to your retirement can go a long way in protecting your future.

Steps to take during divorce

What do you need to know about dividing retirement accounts? Here are the steps you can take to help you prepare for divorce negotiations:

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 Posted on July 31, 2017 in Divorce

The financial implications of divorce are well-known and, for some, highly feared. In fact, studies indicate that it takes an average of five years to financially recover. Still, it is not just a couple's immediate funds that are affected; retirement accounts, which are often considered a part of the marital estate in divorce, may also be affected. Learn how you can mitigate against the damage with help from the following information.

Beware of Short-Term Thinking

If you are divorcing during your working years and still have time until retirement, it may be tempting to discount the impact that divorce may have on your retirement. Unfortunately, this mindset could cause you to be caught off-guard during the negotiation process. You may even be tempted to take a settlement that is not in your best interest, perhaps for an asset that does not hold the same long-term value or benefits. An attorney can examine your situation, advise you of your options, and help you understand the possible consequences of your decisions.

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 Posted on July 28, 2017 in Domestic Violence

Domestic violence is a pervasive issue in America. In fact, it seems there is a news story almost daily on the death or injury of a domestic violence victim. Often, the reported violence is connected to a victim trying to leave, either through separation or divorce. It is, by far, the most dangerous time for them. Learn how to protect yourself and your children during a divorce with help from the following information, and the aid of an experienced attorney.

Leaving is the Most Dangerous Time for Abuse Victims

Abusers who are losing control of their victim can become unpredictable and exceedingly violent. Some may even resort to showing up at the victim's place of employment or home. Thankfully, there are ways to mitigate against this type of behavior. Victims can seek help with an order of protection, which bars the abuser from coming within a certain distance from the victim. Divorcing victims can also let their attorney handle all communications between themselves and their spouse, which can limit any opportunity for an argument. Above all, remember to contact the authorities if you fear you are in immediate danger.

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 Posted on July 26, 2017 in Family Law

Prenuptial agreements are making a comeback, which means more couples have a clear understanding of their financial obligations in marriage and are better prepared for divorce. Unfortunately, there are a few mistakes that couples often make when drafting their agreements. Learn how to avoid them with help from the following information.

Avoiding the Topic Altogether

Perhaps the biggest and most common prenuptial agreement mistake that couples make is simply not discussing it. True, it is not a very romantic topic, and it is easy to overlook when you are in love, but many couples end up regretting their decision. Some may even find themselves in complex and contentious situations, should they ever divorce. If you are apprehensive because the topic lacks romance, or you are sure you will not need one, at least be willing to approach and discuss the matter. It could save you from a headache and perhaps even a hefty attorney bill in the years to come.

Letting Emotions Get in the Way

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 Posted on July 25, 2017 in Child Custody

Obesity is a pandemic issue that costs Americans billions in healthcare costs each year. It can also increase one's risk of developing diabetes, heart disease, and other obesity-related conditions. In short, is a killer and a thief. Thankfully, things have slowly started to turn around; people are becoming more aware of what they eat and how often they exercise. They are taking back control over their health.

Still, there are things that can increase a person's risk for developing obesity. For example, a recent study found that children of divorce may be more likely to experience obesity as an adult than children whose parents stayed together. Learn more about this risk, including how you may be able to mitigate against it, in the following.

More on the Obesity Study

In their study, psychologists at Florida State University investigated a variety of unpredictable childhood experiences (family violence, divorce, moving to a new home, etc.) to determine if any of them increased the child's risk of obesity during adulthood. By far, divorce appeared to be the most influential factor. The researchers believe this may be because children of divorce are more likely to live for the "here and now," rather than the future, which may make them more likely to binge eat than children who have not experienced divorce. They may also be more likely to focus on short-term goals instead of long ones, which may also increase their risk of overspending, debt issues, early childbirth, and other potentially adverse life situations.

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 Posted on July 24, 2017 in Divorce

Recent changes in America's health care system has many citizens on edge, particularly when it comes to their health insurance coverage. The issue is so concerning, in fact, that some couples are delaying divorce. Thankfully, there may be other options. The following information explains these options, and it provides some tips on ensuring that your rights are well protected during an Illinois divorce.

Examining the Concerns of Divorcing Couples

Although the Affordable Care Act (ACA) made insurance easier to obtain and keep for many people in the United States - particularly those with pre-existing health conditions and individuals going through divorce - citizens were not as happy with it as the government had expected. Part of that was due to the rising costs of health insurance, which have been on a steep incline for years (as in, long before the ACA was initiated), but there were other factors behind America's dissatisfaction with the ACA. Now lawmakers are trying to repeal it, but finding a suitable replacement has been anything but easy.

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