Money is one of the leading causes of divorce. When couples run into financial issues, it can end the marriage.
You want to get a divorce, but you don't want the drama. You're not looking to blame your ex or spend a long time in court fighting over the details. Maybe you even want to be friends after the marriage is over. Maybe you have children and you're trying to insulate them from a difficult experience. Regardless, you're looking for a peaceful divorce.
The assets that you own when you get divorced may feel easy to divide, especially if you're using mediation to reduce conflict and you have agreed to split your assets 50/50. If you have $100,000 in the bank, you both take home $50,000 and open your own accounts. If you sell the home and make another $200,000, that's $100,000 for each of you. You feel like you can run quickly down the list of assets and get this done.
People often talk about marriage being life-changing, and there certainly are ways your life will change after you tie the knot. But you don't want to assume that life will change in specific ways, or it can lead to a quick divorce.
You have probably heard that infidelity is one of the top reasons for divorce in the United States, and that's true. Cheating in a relationship is more common than many people realize, and, for many people, it's a complete deal-breaker if they find out their spouse wasn't faithful. It's not something they'll even try to work through.
Individuals in Illinois and throughout the country who are getting divorced may want to sell their family homes. However, this might not be possible unless the other spouse consents to the sale. It is not uncommon for the other spouse to take action to prevent a home from being sold. In some cases, that person simply wants to avoid uprooting their children during the school year or isn't sure what the house is worth.
Some people who are going through a divorce are able to negotiate an agreement without going to court. However, people in Illinois who are struggling to reach an agreement with a spouse might wonder whether it would be better to settle or to go to litigation. Cost, time, stress and the possible outcome are all factors in this decision.
When parents in Illinois go through a divorce, it can be difficult to decide on a child custody schedule. A lot of parents want to have equal custody, but some plans can be better than others for a child's emotional well-being.
Two wealthy art collectors are in the process of contentious divorce proceedings. The property in this divorce will be split according to equitable distribution, which is the same law that governs property division in Illinois divorces. In addition to millions of dollars of artwork, the New York couple is battling over real estate in Manhattan and the Hamptons. There is a good chance that private details about how the husbands runs his business will be exposed in these proceedings, which could also be costly.
Even as overall divorce rates decline in the United States, "gray divorce" is growing more common in Illinois and across the country. For Americans aged 50 and up, the divorce rate has more than doubled in the 20 years between 1990 and 2010, a trend that shows no sign of stopping. There are a number of reasons why more older Americans are choosing to end their marriages, but there are also some specific concerns that can accompany this type of separation. Because a divorce tends to have a major financial impact on both parties, people considering a divorce later in life may want to consider their retirement plans.