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October 2019 Archives

Tips for protecting assets in a divorce

When Illinois couples get a divorce, they need to take steps to protect their investments. These might be IRAs, securities, annuities or other assets. After the divorce, they should ensure that their estate planning reflects this life change, including removing the ex-spouse from beneficiary designations unless they still want the former spouse to inherit those assets.

A strategic way to save money on taxes

Lots of people would be happy to save money on taxes. However, not everyone is willing to go through a divorce in order to do so. The so-called "marriage penalty" has some Illinois couples, especially high-earning ones, talking about the potential benefits that would come from divorcing on paper.

Signs a divorce may be inevitable

Most married people in Illinois understand that there are several factors that drive couples apart. It is usually not just one simple thing. While having issues in a relationship does not mean that divorce is inevitable, it doesn't get rid of everyone's problems. Here are a few factors that can signal an unhealthy relationship.

Handling the family home during property division

The family home may be one of the most important assets for couples in Illinois who decide to divorce. For many people, the marital home is the most valuable item that they own, far outstripping other investments. In addition, it can come with sentimental attachments, especially for couples with children. Many people decide to sell the home during the divorce. This way, they can move forward after paying off the mortgage and splitting the remaining proceeds as part of the property division process. However, others may want to make an effort to stay in the family home.

Conquering personality traits may help married couples

Contrary to popular belief, couples are not rushing to divorce courts. Yet a newly married couple still has to worry about what might end their marriage. Comprehending their faulty personalities can help spouses focus on learning how to develop tolerance toward each other and prevent the downfall of their marriage.

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