Illinois residents who have made the hard choice to get divorced must wrestle with many challenging steps through the process of reaching a final settlement. For families with children, certainly determining when each parent will have time with the kids may be one of the hardest elements of a divorce. When it comes time to focus on financial matters and how to split assets, emotions may run high as well especially when the topic of how to split debt arises.
Divorce and your financial future
Taxes and alimony agreements and modifications
This tax season is the first year that residents in Illinois will be filing returns based on a majorly revised tax code. The new Tax Cuts and Jobs Act has taken full effect and for divorcing or divorced couples, this law has ushered in some significant changes that you should be aware of.
Dealing with your mortgage in a divorce
If you and your spouse in Illinois are contemplating a divorce and you own a home together, you are likely wanting to know how to best deal with the house. If you have young children, you may well feel a strong emotional pull to keep the house so the kids do not have to move. You might want to do this whether you stay in the house with the kids or whether your spouse stays there with the kids and you move somewhere else.
Will you be awarded alimony?
As you prepare for you divorce proceedings in Bloomington, one thing you may be hearing from multiple sources is how (if your ex-spouse was the primary income earner in your home) you will be entitled to alimony. This assumption is likely due to many perceiving alimony to be some form of punishment that is inflicted on one side of a divorce case. In reality, however, alimony is only meant to be a temporary source of assistance, and this is only if the court deems it is even needed.
3 dead after violent encounter stemming from couple's divorce
While the pressure and emotions associated with getting divorced will undoubtedly affect all separating couples at some point, it can reach an extreme in some cases that results in tension that could turn dangerous. Unfortunately, there are some people in Illinois who are so angry at how their marriage is ending and perhaps with their former spouse's behavior, that they become violent and dangerous.
