A Few Things to Know If Your Are Contemplating a Divorce

You didn’t go into your marriage thinking that it wouldn’t last. No one does. However, for any number of reasons, you have gotten to the point in your marriage where you realize that the problems you and your spouse have cannot be solved. Everything that is happening in your marriage points to a divorce. Before you make any decisions, you need to consult a divorce lawyer in Lake Forest, IL first. The following are a few reasons for this.

You need to understand the laws
You may have gone through a divorce before, or maybe you have friends that have gone through a divorce. Regardless of the source of your information, it may not be accurate. Each state has different divorce laws, and these laws go through changes over time. An example of differences in state laws is how assets are divided. Some states are community property states. In these states, a couples’ assets are equally divided. Most states, however, are not like this. It is entirely possible that some of your spouse’s assets will not be shared in a divorce. An example of laws changing over time is alimony. Many states have slowly reduced the circumstances when alimony is awarded to a spouse after a divorce. Some states that still have alimony will place a time limit on how long they are able to receive it.

You need to understand the financial consequences
This is often overlooked. There are many things that you may not think about when you are deciding on a divorce. You may already be aware of income issues, but what about medical insurance? If you are on your spouse’s policy, can you remain on the policy while you get a new job? What about retirement accounts. In the past, you may have thought about retirement plans only in the context of you and your spouse, living together in your golden years. The financial consequences of a divorce that relate to your retirement, need to be understood.

None of this should dissuade you from getting a divorce, it is just that many people are surprised how their finances change after their marriage breaks up. Knowing the consequence can allow you to cushion the effects with preparation.