If you are considering filing for divorce, then you are likely already struggling with a very difficult situation. You could be constantly fighting with your spouse, barely speaking to each other or coming to terms with the fact that you have simply fallen out of love.
The use of plastic or smartphone technology to conduct transactions has, for the most part, taken over for cash or a checkbook. Many people today do not even carry cash. While debit transactions do not necessarily create debt, the use of technology often makes to easier to amass debt without truly recognizing how fast credit card balances can increase.
Ending a marriage is a difficult thing to do. When it's a military marriage, it can be much more complex. If your spouse is on active duty, your divorce could be delayed for months. Then there's the issue of retirement accounts. Unlike employer retirement funds, which could be subject to division, military pension benefits can only be divided in cases where the marriage lasted at least ten years. There are a lot of rules and expectations involved with a military divorce, which is why it is in your best interest to work with a divorce and family law attorney experienced in Illinois military divorces.
Money problems commonly lead to marital discord and then to divorce. For potential divorcees who are swimming in debt, questions may arise as to whether they should file for bankruptcy prior to divorce. After all, they probably know that the divorce could involve prickly arguments over who was responsible for particular debts, and how to divide it. At the same time, a bankruptcy could eliminate troublesome debt with one fatal swoop.
For many people, the home is their most valuable asset. In Illinois, without some kind of estate planning instrument, real estate usually has to go through probate upon the death of the last surviving owner named in the deed. For some people, creating an estate plan to address how their home should be handled should they pass away may seem overwhelming - especially when the home is the primary asset.