Butler Giraudo & Meister
Peoria 309-407-3332
Morton 309-263-1204

Wise moves can prevent divorce from hurting finances

Going through the divorce process in Illinois can take its toll, both emotionally and financially. Every divorce proceeding is different, as couples have varying financial situations and may require unique custodial arrangements for their children. However, a couple of tips may help navigate the process in a financially beneficial manner.

One party may be tempted to move out of the marital home immediately. However, it really may be more beneficial to stay put. Otherwise, the spouse might claim that he or she has abandoned the family.

It is also wise not to become too attached to the marital home. People often give up valuable assets just so that they can stay in the marital house. In reality, it may make good sense to sell the home, especially if it may be too costly for one party to maintain long-term.

It is also important to consider the tax implications of every financial decision made during the divorce proceeding. Besides the marital home, a person's retirement fund might be his or her most valuable asset. However, cashing it out and dividing the proceeds may come with a penalty.

Sometimes marriages in Illinois do not work out and divorce is inevitable. However, an applied understanding of the law may help individuals in making expedient decisions that protect financial interests as well as help them to consider the best interests of any children involved. This is true whether a settlement is achieved through direct negotiation or mediation or if a judge will be called upon to make the decisions.

Source: usnews.com, "10 Ways to Prevent a Divorce From Ruining Your Finances", Maryalene Laponsie, Sept. 29, 2016

No Comments

Leave a comment
Comment Information
  • I cannot even express in words the level of gratitude that I feel. ‘Thank you’ doesn't seem to be enough. Please know that your services and compassion will never be forgotten! I am forever grateful!

  • Thank you so much for your hard work and expertise. I feel as a father in the state of Illinois that what I am trying to achieve is nearly impossible. I am so glad I chose to have your office full of extremely intelligent women represent me.

  • We would like to say thank you for your expertise, education, and kindness when we met with you! Your confidence has helped to comfort us and give us hope that resolution of the issue is possible.

  • I just wanted to say thank you from the bottom of my heart for all your time, energy, and efforts you put into our case. Thank you for helping make our son's quality of life better. I cannot tell you how happy we are!

More Testimonials
Contact Us Today

Contact Our Lawyers About All Areas Of Family Law

We are driven and committed to a successful outcome for all of our clients. To arrange a consultation with attorney Susan Butler, Kelly Giraudo or Tamara Meister, call 309-263-1204 (Morton) or 309-407-3332 (Peoria). You can also contact our law firm by filling out the form below. With offices in both Peoria and Morton, we work hard for our clients while getting to know them as people.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Morton Office
100 S. Main Street
Morton, IL 61550

Toll Free: 888-314-9667
Phone: 309-263-1204
Morton Law Office Map

Peoria Office
416 Main Street
Commerce Bank Building
Suite 927
Peoria, IL 61602

Toll Free: 888-314-9667
Phone: 309-407-3332
Peoria Law Office Map

Morton Office Peoria Office