• Twitter
  • Facebook
815-726-9200
Free Initial Consultation 815-726-9200
Mevorah Law Offices LLC

6 Convenient Locations

  Twitter Facebook  

Free Initial Consultation

815-726-9200
Se habla español
Se habla español
Subscribe to this list via RSS Blog posts tagged in divorce and finances

Posted on in Family Law

Joliet divorce lawyers, annulment, Illinois annulment requirements, marital debt, divorce and financesA divorce acknowledges the end of a marriage. An annulment, however, states that a marriage never existed. If you meet certain requirements outlined by the state of Illinois, an annulment may be an option. Consider the following five benefits to getting an annulment instead of a divorce:

1. No Property Division

Property division is one of the most stressful aspects of a divorce. If you qualify for an annulment, you will not have to worry about property division. In most cases, a judge will assign all property and debts to the individual who owned them prior to the marriage.

...

Will County divorce attorneysDivorce can be a stressful and contentious matter – and not just because of the impending split. Financial matters are also particularly important in divorce, and they can have a lasting impact on each party’s quality life. If you are planning on filing for divorce or have recently been served, beware of these money issues in your case and learn how an experienced divorce lawyer may be able to help protect your interests and financial future.

Housing and Living Expenses

When couples split, one typically leaves the family home. The other may stay, or the couple may agree to sell the home and both may vacate the premises. Regardless of the living arrangements that they agree to, parties are encouraged to prepare for an increase in living expenses. Couples should also consider how a decrease in income – an inevitable side effect of divorce – may impact their financial situation. As an example, consider downsizing early, before the proceedings begin, when maintaining the family home is not an option.

...

Will County divorce lawyersDivorce is a difficult endeavor with many financial pitfalls. Some couples fall into them and spend years trying recover. In fact, one study suggests that it may take as long as five years to overcome the financial impact of a divorce. Others may fight even longer, possibly for decades. Thankfully, it is possible to minimize the risk, as long as you know a few helpful tips. The following explains.

At the Intersection of Divorce and Debt

Most Americans have debt. Some fail to manage it responsibly, but others are diligent about only taking out the amount of credit they can afford. Yet both couples are at risk for financial difficulties after a divorce. This is due, in part, to the splitting of one home into two. Each party must now cover their own separate bills, housing expenses, and utilities. They must also be able to pay their share of the debt, which can be difficult to manage on a single income. The more debt a couple has going into the divorce, the higher their risk typically is.

...

Posted on in Divorce

Will County divorce attorney, preparing for divorceFor many people, the decision to end a marriage is not a sudden one, but one that is made after a period of time where there has been a gradual erosion of a relationship. However, once the decision is made—or even before, if it is one that you are considering—steps should be taken to gather all legal and financial information and documentation needed to ensure that you receive the best possible divorce settlement.

Seek Assistance

Even if you are the one who is seeking the divorce, you will most likely find yourself navigating through an emotional roller coaster over your decision. As difficult as it may be, try to avoid allowing these emotions to rule your behavior. Seeking out the services of a professional therapist often helps in staying focused, even more so than confiding in family and friends. A therapist is unbiased and can help guide you through working through the feelings you are dealing with about the divorce. What you share with the therapist is also confidential, unlike sharing with a friend who may repeat what you tell him or her and the information gets back to your spouse.

...

Recent Blog Posts

Categories

Archives

  • AVVO Rating 10 Top Attorney Personal Injury
  • Elite Lawyers
  • National Association of Distinguished Counsel
  • Top 40 Under 40
  • 2015 Top 40 Lawyers Under 40
  • Super Lawyers

Let us start helping you with a FREE initial consultation.

NOTE: Fields with a * indicate a required field.
*
*
*