Many employees put money into their retirement plans throughout their careers. This can result in thousands of dollars saved for their retirement. When a couple marries, they expect that their retirement accounts will be able to support a single home. Retirement...
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Divorce
What are commingled assets?
Sometimes, when trying to divide assets during a divorce, couples will run into an issue where certain assets have been commingled. This indicates that they have been mixed with other assets, and it can be problematic for a few different reasons. For example, perhaps...
How to get your finances ready for divorce
Dividing assets and money during your divorce is challenging. If you aren’t careful, you can miss important assets and not receive what you are entitled to in the final divorce decree. Understanding the financial aspects of a divorce will help you protect your...
Dispelling some common divorce myths
People who are unhappy in a marriage might not think that they’ll be able to go through a divorce. This is due in part to some myths about ending a marriage. Understanding the truth about this event may help you to make the decision you feel is best for you without...
Avoid these financial mistakes during your divorce
Divorce is stressful. It can be overwhelming and emotional. Because of this, thinking clearly and making smart decisions can be challenging. Along with changing your life in significant ways, you will also face new financial challenges during and after your divorce....
What happens when your divorce turns toxic?
When people get divorced, sometimes they can still communicate respectfully. It can be hard to be reasonable if there was addiction, adultery or waning interest in the marriage on one person’s part. Still, when there are youngsters to be considered, it helps...
What happens to the family business following a divorce?
Divorce could affect more than just your family structure, especially if you and your spouse were in business together. Although the future of the business hangs in the balance, it does not necessarily translate to closing shop. Instead, the company's fate depends on...
Can you disinherit your spouse in an Illinois will?
Marriage is a complex legal commitment. It is often a religious one as well. Not everyone in an unhappy marriage will choose to divorce even if divorce has become more socially acceptable. People can grow apart from their spouses over time or can drastically damage...
What are the consequences of hiding assets during divorce?
When a marriage begins to deteriorate, it is not unusual for spouses to start questioning their partner’s intentions. Many even fear that the other party is hiding assets. If you are getting a divorce, it is important that you set out to be 100% transparent about...
4 tips for building your post-divorce budget
When you go through a divorce, one of the major changes will be your financial situation. If you and your spouse both work, you’ll lose one source of income following your divorce in most cases. If you earn less, there may be an opportunity to seek support from your...