Divorce can have a huge impact on both spouses' finances and has led many spouses getting divorced to try and hide their assets. Hiding assets has become more common in divorces today so it is important for individuals to know the signs and consequences of hiding assets during divorce.
The divorce rate of those over the age of 50 has doubled since 1990, and it is only expected to continue to increase.
Men and women are usually not fixated on money during the emotional proceedings of a divorce. They might be so overwhelmed with emotions like anger or sadness that they do not realize that divorce can be expensive and time-consuming. This is why residents in Lake County should think ahead to make sure they will be on solid financial ground once the process is complete.
So much changes when a marriage ends. It isn't just the emotional relationship that changes -- it's the financial relationship, the parent-parent and parent-child relationships, the social relationships that come with being part of a couple. For both women and men a divorce can mean an unexpected -- and unprepared for -- return to the workforce. Whether change for the better or for the worse, divorce means change.
An article about annulment caught our attention recently, and not just because it talked about the small group of celebrities, including Janet Jackson and Kim Kardashian (if her husband gets his way), who have had marriages annulled. It gives us the opportunity to discuss the differences between annulment and divorce.
That's Janet Jackson and Kim Kardashian, two members of an exclusive group of celebrities. What is the common element that these women share with, among a handful of others, Renee Zellweger and Pamela Anderson? Some people will come close if they guess divorced after brief marriages. More accurately, though, all have gone through (or may go through, in Kardashian's case) the annulment of a marriage.
We are picking up where our Oct. 4 post left off. We were discussing small businesses, their owners and founders, and the effect marital discord can have on the business. A recent article reminded us that divorce can exact a high price from a Chicago small business by distracting the owner and, perhaps, draining the company's financial resources.
Researchers recently polled 1,500 Americans about marriage and divorce. They were particularly interested in the reasons couples split up. In Illinois and elsewhere, financial troubles have long been accepted as the number one cause of friction in a marriage and, so, the number one reason for a couple to separate or divorce.
We are continuing the discussion from our last post, about long-term marriages coming to an end. There are no hard and fast statistics, but family law attorneys in Chicago and elsewhere report a higher volume of older clients, some married for 25 or 30 years, looking to divorce.
A friend of ours announced recently that her parents were celebrating their 60th anniversary. Their marriage is rare, especially these days. Divorce attorneys in Illinois and elsewhere report counseling more couples looking to end their long-term marriages. Many times, a husband and wife drift apart over the years -- like Al and Tipper Gore, for example -- and decide to go their separate ways.