Did you know that divorces are at their highest in August? Are you able to salvage your marriage or is it just not possible given your situation? Here’s how to get through the summertime and divorce to make your transition a little smoother. Late summer can be great for enjoying vacations, barbecues, and seeing family…
As you go through the divorce proceeding and get used to your life after the divorce, follow these tips to make this transition easier for your children.
There has been a noticeable increase in divorce rate for couples over 50, or grey divorce in the U.S. If you are going through a grey divorce, it is important to consider the financial aspects of the separation. The following are important tips to review for couples going through grey divorce.
When a divorce occurs, the division of marital and financial assets is a necessary step in the divorce proceedings. Social Security benefits may come into play in certain jurisdictions when other assets are divided. Government employees can put money into their government pension plans without contributing to Social Security. This makes a percentage of their pensions a legitimate Social Security substitute that is considered a marital asset that can be divided in a divorce.
Divorce laws differ in every state. Some states are community property states, while others, like Illinois, are equitable division states. Under Illinois divorce laws, divorcees are not entitled to an even 50/50 split of marital assets. In most cases, a spouse is unlikely to receive half of everything. What is a community property state? In…