The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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Batavia parenting plan attorney

Divorce is filled with issues to settle and decisions to make, which can pose a challenge for some couples, especially if they are not on the best of terms. All couples argue about things from time to time, but divorcing couples have often reached the point where disagreements become heated very quickly and can elevate to all-out wars. When it comes to decisions involving the children, these arguments can become even more hostile, and resolving them can be a very emotional process. If your divorce reaches the point where you have to go to court to come to a resolution on matters related to the allocation of parental responsibilities and parenting time, you will need to convince the judge that you will be able to provide for your children's best interests. There are certain things that you should avoid doing when you are fighting for a favorable parenting plan:

Resist the Urge to Complain on Social Media

Social media is present in many peoples’ lives these days. In divorce cases, it can become a tool in your ex’s arsenal to use against you if you are posting the wrong type of things on your timeline. Even if you are just sharing a photo of yourself and your new partner, your ex could use it in a negative way, perhaps by claiming that you are more focused on your new relationship than on your children's best interests. Be extremely cautious of what you post online during your divorce proceedings, and above all, do not post anything directly pertaining to your case.

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DuPage County legal separation lawyerMaking the decision to get a divorce is often one of the most stressful periods in a person’s life. For many people, it can take months or even years to come to the conclusion that a divorce is the best option. During this time, many couples turn to legal separation to begin the process of ending their marriage before they become legally divorced. During the separation, financial issues can be confusing and daunting to manage. Planning ahead regarding your finances is essential to ensuring a smooth divorce process. If you are contemplating divorce and think a legal separation is the best first step, here are a few tips to help you manage your finances during this period of transition:

Create a New Budget For Yourself

One of the first things you should do when you become separated from your spouse is to figure out a new budget. Once you are divorced from your spouse, you will likely only be living off of one, rather than two, incomes. You should reconfigure a budget that allows you to live comfortably based on your new expenses and your own income.

Begin Separating Your Accounts

If you are married, chances are you and your spouse had at least one joint financial account. Many couples share checking accounts, savings accounts, credit cards, investment accounts, and even retirement accounts. While you are separated, you should begin the process of separating your accounts. Open your own personal checking and savings accounts and close any credit card accounts that do not currently carry a balance.

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DuPage County gray divorce attorneyDivorce statistics are often misconstrued, and it can be difficult to determine what the true divorce rate is in the United States. One of the figures that most statisticians can settle on, however, is that the general divorce rate is declining, while the rate of divorce for those who are over the age of 50 is rising--and has been for the past couple of decades. A “gray divorce” is a term that is used when two people who are over the age of 50 decide to divorce. At that point in their lives, they have typically been married for decades, and they may have many more issues that need to be addressed, especially when it comes to finances. If you are thinking about getting a divorce, and you are over the age of 50, you should be aware of some of the differences that you may face compared to your younger counterparts.

Stakes Are Higher During Asset Division

When going through the process of dividing your marital assets, earning potential is something that becomes important. For couples who are in their 20s, 30s, or 40s, they still have plenty of earning potential. Couples who are divorcing in their 50s or later are close to retirement, if they have not already retired, meaning their income will be fixed, and their assets will not grow anymore. This makes the stakes higher when it comes to figuring out who gets what in the divorce.

Retirement Funds Become Extremely Important

Another thing that becomes a priority is figuring out how your retirement funds are distributed when you divorce after 50. If you are not yet retired, you will be soon, and you will need as much money as possible to live comfortably during retirement. If you are already retired, you will have to figure out how much of each spouse's retirement funds are left and how much you and your spouse are eligible to receive. You also have to keep in mind any tax considerations when making withdrawals from retirement accounts.

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The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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