When people think about divorce, they often think about who gets the home and child custody if there are minor children. Many people completely forget about one of the most important assets: retirement accounts.
One of the most difficult parts of divorce is often deciding on a fair and equitable division of all assets. It is rare for couples going through divorce to agree on who should have what and the overall value of all assets. When your finances are simple, including a savings account and checking account, along with a single home, estimating the value of assets can be simple.
Child support is a critical issue in any divorce. Whether you expect to pay child support or hope to receive it, child support will have a major financial impact on your life and the lives of your children. In Illinois, courts consider the respective incomes, assets and financial circumstances of each parent to determine a monthly child support payment. However, financial circumstances change.
You and your friends are close based on similar backgrounds, interests or demographics - or maybe a combination of all three. We like to take advice from our friends. Friends are a great source of sympathy and honesty when we need it most. But, when going through a divorce, the best advice is often left to family law professionals.
Emotions run high in divorce proceedings. Your natural response might be to solve the problem that is causing the negative emotions quickly. However, "just making it go away" is not be the best approach when filing for divorce.