The Holmes-Rahe Stress Inventory is used by the American Institute of Stress to rank the most stressful life events. You’d think that imprisonment, getting fired, or suffering a major illness would rank higher than divorce, but according to the inventory, they don’t. After the loss of a spouse or child, the 2nd most stressful life event is divorce. Marriage takes the 7th spot on a list of 43 life events.
Skilled lawyers know this. They also know a lot of other things about marriage that will affect your life—as well as a divorce, should it happen. Even though the divorce rate has steadily declined since the 1980s, which was the peak time of “half of all marriages end in divorce”, the rate is still high.
The current numbers show that people have a 39% chance of getting divorced. Now, a lot of marriages end because of finances. It’s no surprise that just as finances can take a front seat in a marriage, they take the same in a divorce. Perhaps knowing a bit more about the various aspects of marriage and divorce will help you in both of these life-altering events.
Separate Your Heart From Your Finances
You know how your heart can tell you one thing, but your mind tells you something else? The same should apply to your emotions vs your finances. Some couples will do their best to spite each other during a divorce, fighting over the smallest financial assets. It will cost you less to give up small, irrelevant items in the house, for instance, than to have your lawyer contact your spouse’s lawyer for these things.
Most states will not allow you to liquidate an asset once a divorce is filed. An automatic financial restraining order is put in place if there is no agreement beforehand. If you want to make any big purchases, you’re better off doing it while you’re still married. On the other hand, trying to hide your assets or your financial records is a sure way to lose your credibility in front of your spouse and the law. This could cost you stiff penalties.
In a perfect world, a better person should get everything, right? But in reality, if the ground for your divorce is that your partner cheated on you or abused you in any way, being the victim doesn’t automatically guarantee you or entitle you to more assets. The division of assets isn’t based on the flaws of your partner.
When you cite irreconcilable differences, by law, no one is at fault—this is called no-fault divorce. States like Illinois have both fault and no-fault divorce. In a fault divorce, there are cited reasons such as adultery, abandonment, bigamy, among others. The lawyers at Goostree Law Group at www.napervillefamilydivorcelaw.com/ states that the best scenario for divorce would be a negotiated solution.
You and your partner probably aren’t very good at communicating with each other, especially during a conflict; you might not have been seeking a divorce to begin with if you were. Besides, most states implement their own version of no-fault divorce. This is why it makes a lot of sense that you would need a skilled and knowledgeable lawyer to negotiate on your behalf.
Familiarize Yourself With The Finances
In many homes, it’s one person who manages the money. They’re the ones who pay the bills, keep track of the budget, etc. If that person isn’t you, it’s time you understand how your spouse does it. Start learning about all your assets. Most people think their biggest asset is the home they live in, but it might not be. It could be the pension fund, for example. Collect all the facts about your assets and jot down important numbers, make copies of account statements, etc.
In the same way, you share earnings, you can also share debts in a divorce. Make sure your credit score is in good standing. However, it may depend on which state you’re in because some states don’t divide marital debts if these debts are just in one person’s name.
You don’t have to be getting a divorce to take some tips from divorce lawyers on how to protect your marriage from future conflicts. What you do today in your marriage can help you tomorrow should your marriage come to an end. A good divorce lawyer can guide you through the legal process and explain each procedure every step of the way. They can give you the most realistic advice, and fill you in on things you may not be aware of regarding marriage and its legal aspects.
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