Divorce is just as much a financial and legal process as it is an emotional one. The financial implications of ending a marriage can be significant, but it is still possible to minimize undesirable outcomes. For example, couples in Illinois who are divorcing after decades of marriage should pay careful attention to complex assets such as retirement plans. Even the division of something as seemingly simple as a 401(k) can become a foundation for financial security following divorce.
How can startup founders protect their business during divorce?
Getting a prenup does not mean that a couple thinks their marriage will not work out as intended. Instead, it is simply a way to make sure that both people and their respective assets are protected should they divorce. A person in Illinois does not need lots of wealth or assets to benefit from a prenup, either. Startup founders, entrepreneurs and investors who have yet to make it big can still protect their current and future wealth.
How fathers can improve their chances for child custody
Deciding on child custody can be an emotional time for parents going through a divorce in Illinois. While joint custody is often the best arrangement for everyone, sometimes it is harder for fathers to receive equal time as the mothers. Fathers who want to win joint, or even sole, custody should follow certain guidelines to improve their chances.
Teamwork helps a divorcing couple create a parenting plan
They say great minds think alike, and divorcing couples can apply that maxim to the creation of a good parenting plan.
Different ways a financial agreement may work in a divorce
When it comes to marriages in Illinois, it may seem counterintuitive to enter with premade plans for an exit. However, the reality is that about half of marriages fail. It only makes sense then to plan for the 50/50 chance of breaking up in the future.
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