Subscribe to this list via RSS Blog posts tagged in divorce preparation

Wheaton divorce attorneyThe long-term financial effects of divorce can be expensive. If both spouses work, you will need to learn how to survive on just a single income. That one income has to cover utilities, food, and other expenses, as well as fund savings and retirement investments. However, planning ahead can help. If you are considering a divorce, financial advisors suggest taking the following steps so you are on firmer financial ground if and when you decide to file.

Know Your Current Financial Situation

To begin, it is important to know your current financial standing. First, acquire all copies of any bank accounts and investment statements for the past year. You should also make copies of any income tax returns filed for the past several years. Request your credit report so you can see exactly what debts you owe.

Next, consider consulting with an attorney to find out what the bigger picture would look like if you make the decision to end your marriage. Illinois is an “equitable distribution” state, which means marital property will be divided fairly between you and your spouse, not necessarily equally. To ensure the equitable distribution of your property, the law requires full disclosure of all assets and obligations.

...

Posted on in Divorce

DuPage County divorce lawyerThe decision to get divorced often comes about after a long period of strife or unhappiness in a marriage. Many couples struggle with the decision for some time before finally contacting an attorney to start the process. If you have been thinking about divorce for a while but are unsure if it is the right move, there are a number of questions that you should consider.

Have You Done Everything You Can to Fix the Relationship?

The first important consideration is whether or not all reasonable steps have been taken to save the marriage. What constitutes “reasonable steps” is different for different people, but it could include couples therapy, individual counseling, or marriage retreats—not to mention in-depth discussions between you and your spouse. There are also many self-help books that might help address the problems you and your partner may be dealing with on a daily basis.

Are You Prepared for the Emotional Strain?

Before filing for a divorce, you will also need to be ready to deal with the myriad emotions that come with ending a marriage. Even if you are the one who wants the divorce, you will probably need to go through a grieving process over the “death” of the marriage. Divorce can also leave you struggling with feelings of anger and guilt. On the other hand, there may be feelings of relief that the turmoil of the marriage has ended. Individual therapy can also help you work through these feelings

...

Posted on in Divorce

DuPage County divorce attorney credit scoreWhether you and your spouse have discussed the possible end of your marriage in detail or you are silently debating your options, once divorce becomes inevitable, there are several steps you need to take to protect your interests during the divorce process. Before filing, set yourself up for success with these tips:

1. Begin Building Your Credit

Spouses often discover post-divorce that they have built up their spouse’s credit while neglecting their own. Without a good credit score, down payments for utilities and housing are often significantly higher, if you are able to get approved in the first place. Open a credit card now and use it to make small purchases that you can pay off each month. The goal is not to create a pile of debt; it is to prepare yourself for future success.

2. Understand the Family Finances

For property division and support payments, it is imperative to understand what you own and what you owe. Gather important documents like your credit report, paycheck stubs, tax returns, and bank statements. This information will not only help a judge determine whether you are eligible for spousal maintenance to cover your family’s financial needs, but it will also assist you in creating a post-divorce budget.

...

Posted on in Divorce

divorce client, DuPage County divorce lawyer, going through divorce, important court documents, divorce process, divorce preparationA legal proceeding like divorce is a team effort. It requires lawyers, paralegals, clerks, and legal secretaries to work together to all help reach the best outcome, and one of the key members of the legal team is the client themselves. Naturally, this can be a bit of a difficult adjustment for the client, since data from the United States Census indicates that the overwhelming majority of people going through divorce have never done it before.

Fortunately, this post highlights a few strategies that people can use to be more effective divorce clients like staying organized, taking an active role in the process, and keeping a level head. Divorce clients using these strategies can streamline and speed up the divorce process, which often means keeping their legal fees lower.

Stay Organized 

...

Recent Blog Posts

Categories

Archives

Wheaton Office

400 S. County Farm Road
Suite 200
Wheaton, IL 60187

630-871-1002

Oswego Office

123 W. Washington Street
Suite 334
Oswego, IL 60543

630-518-4002

Chicago Office

Appointments Available

Contact Us