People in Illinois who are getting a divorce and who anticipate giving or receiving alimony payments might want to try to complete their divorce before the end of 2018. Starting in 2019, alimony will no longer be tax-payable or tax-deductible, and experts say it is likely this will not benefit either the payer or the recipient.
Librarians and farmers might be less likely to divorce than people who are in other professions. This was one of the findings of researchers at Stockholm University who examined Danish data for the relationship between work and divorce. The professions that had the highest divorce rate were in the hotel and restaurant industry.
The Holmes-Rahe Stress Inventory is a metric designed to predict which events in life are the most stressful and the most likely to result in a health breakdown. The number two stressor on the inventory is legal uncoupling or divorce. For people in Illinois who are divorcing after age 50, it may be even harder on the health.
An increasing number of older couples in Illinois and across the U.S. are choosing to end their marriages. In fact, while the divorce rates for all other age groups has declined, the divorce rate for people age 50 and up has doubled over the last three decades. Meanwhile, the divorce rate for people age 65 and up has tripled over the same period.
A new school year can be both exciting and a source of anxiety for children in Illinois and throughout America. However, children and parents alike may face challenges in trying to prepare for a school year after a divorce. By taking some time to prepare, parents can help their children set goals for the year and clarify some rules and expectations.
Couples in Illinois have many issues to consider when choosing the day for their weddings. A study from the University of Melbourne of about 1 million marriages provides a cautionary tale about special wedding dates like Valentine's Day or interesting date number combinations like Sept. 9, 1999. The researchers found that choosing a specific date for its romantic quality or numerical interest might predict divorce.
When Illinois couples divorce, they generally consider it a matter that primarily affects themselves and perhaps their immediate family, particularly any children of the marriage. However, the social effects of divorce could resonate far outside the boundaries of the family. In fact, divorce can be "contagious" in a friend group or social circle. While some may think such beliefs are only based on anecdotal evidence, research conducted by social scientists at Brown University, Harvard University and the University of California at San Diego backs up this phenomenon.
Illinois residents who get a divorce may experience significant stress when thinking about the impact the process will have on their finances. Individuals can gain control of their lives by taking an honest look at their financial situations. This process entails being aware of all of their income, assets, liabilities and expenses.
Individuals in Illinois who are older than 50 and get a divorce are a part of a trend that has seen the divorce rate for older couples double since the 1990s. One of the main issues that has to be addressed during a divorce is the division of financial assets, including retirement. Both parties should be aware of how to properly divide their retirement assets in order to avoid having to pay high tax penalties or suffering a financial loss.
On average, individuals in Illinois and elsewhere who have student loan debt owe an average of $34,144. This is an increase of 62 percent in the past decade, and the number of people who owe $50,000 or more has tripled in that same time period. For those who graduated in 2017, that average balance increases to $39,400. According to a study from Student Loan Hero, 13 percent of respondents attributed their divorces to student loan debt.