It can be tempting for Illinois couples going through a divorce to fight over who should get the family home. A lot of times, emotions are tied up in these decisions. However, it is important to think about the future when coming to an agreement on a divorce settlement. Many times, this will mean putting more of an emphasis on the retirement account than the actual home.
Going through a divorce is a highly emotional time. And while this is totally understandable, it is important to not allow those emotions to be the reason why financial decisions are made as these decisions can end up impacting a person for the rest of their life.
It's natural to want to spoil children during and after a divorce. Often times, though, parents end up taking it a bit overboard and spending entirely too much money. Not only could this end up putting someone in serious debt post-divorce, but it also sends the wrong message about money to children.
When parents go through a divorce, experts say the goal is to maintain the children's lifestyle. However, due to a divorce usually meaning each parent having to pay for their own household, many people are unable to keep everything exactly how it was for their children. This is why judges and lawyers will look at what the minimum amount one parent can accept is and what is logistically possible for the other parent to pay.
Divorce can be an emotionally grueling time for both husband and wife. Often, these emotions can end up playing a role not only in a person's day-to-day life, but also in their decisions -- especially when it comes to finances.