Nothing is constant in life except for taxes and death, as the saying goes. Like many other Illinois residents, you may have already taken care of your tax and inheritance matters by creating an estate plan. However, what happens if you get a divorce?
Whether you have just taken your marital vows, or you recited them decades ago, you probably did not anticipate filing for divorce later on down the road. Yet, divorce is rather common among married Americans, and affects more than 50% of marriages. The rise of divorce in people over the age of 50 is known as the gray divorce phenomenon and it is taking the nation by storm. According to the Census Bureau’s American Community Survey, 2.8% of people over the age of 50 filed for divorce a half-century ago, compared to 15.4% in 2011. While people may believe that a marriage that has lasted for decades may have avoided divorce altogether, that is simply not the case. Circumstances in life may change that cause people to terminate their marriage, even later in life.
If you're familiar with family comedy shows such as "This Is Us" and "Modern Family" you may know about how petty arguments between married couples can morph into big problems. On television, these types of disputes typically turn into comedic moments, but sometimes emotional moments come about.
Divorce can be both an emotionally draining and legally complicated situation for spouses. The process is generally more difficult for couples with large assets to divide and is also more complex when children are involved. Courts in Illinois use certain standards to keep divorce proceedings as short and as fair as possible.