During marriage, Illinoisans interweave their lives with their spouses. That means joint financial accounts and often sharing of social-media accounts. When the marriage is going well that trust can be a benefit. But when the marriage goes south, that trust can be a source of serious harm.
In Illinois and elsewhere, divorce is not an easy time. A lot gets that thrown at a person fast, and often the person is not in the best situation for handling the onslaught. One issue that can get overlooked once the divorce has made it into the books is taxes.
Illinoisans love their kids. They want to be there to watch and help their children as they grow up. But when the mother and father cannot get along, that often means one parent will primarily be the person who gets to watch and help the child grow up. That seldom sits well for the parent who misses out. Take, for example, the former Gossip Girls actress, Kelly Rutherford.
When Illinoisans get divorced, it causes ripples across each spouse's life. There are the ripples people expect, like resolving child custody and splitting the marital assets. And then there are the ripples that people often overlook, like the tax effects of paying alimony. Below are a few explanations on how alimony affects Illinoisans' federal tax returns.
In an ideal world, when Illinois parents split it up, they can make a responsible, mutually beneficial decision about who should get the kids and to what extent. But that consensus is seldom easy to reach. The couple care about their kids and want to spend time with them. At the same time, the couple is usually splitting because of serious, often emotional problems. Together, each parent's desire to have the kids, and their problems with each other, make it difficult for them to resolve child custody on their own.
Many, if not most, residents in Illinois have Facebook accounts. This social network site has changed the face of divorce. How? In two main ways: by setting the groundwork for a divorce and as a rich source of evidence during the divorce. This post will focus on the second aspect: evidence during the divorce.
As a general rule, Illinois couples get married because they love each other. And they get divorced because they no longer do or, worse, they can no longer stand each other's company. That is hardly a recipe for a smooth, unemotional divorce process.
Divorce is a time of transition. A couple goes from a "we" to a "me." And, in the process, they need to separate their lives. One of the biggest items that must be disentangled is the finances. Doing so gets more complicated the more assets a couple has and the longer they have been together.
For many Illinoisans going through a divorce, it can be easy to focus on the past. It can be easy to think about the happy first act and the less happy second act. But Illinoisans should not mire in the muck of what went wrong and how they were wronged. Instead, they should do the exact opposite -- they should have a laser focus on the future.
A recent Gallup poll involving more than 130,000 Americans may interest Illinoisans. The poll looked into what was more stressful: divorce or the separation that precedes it. The poll found that the initial separation was more stressful than the actual divorce.