When most people hear the term “restraining order,” they assume that the order prevents physical abuse or stalking. However, this is not the only type of restraining order that may be necessary in an Illinois divorce. A temporary financial restraining order is one that protects a divorcing spouse’s financial assets from being misused, wasted, or hidden by the other spouse. In some states, an automatic financial restraining order is issued when spouses begin the divorce process. However, if you plan to divorce in Illinois, you will need to petition the court in order to gain protection through a financial restraining order.

Prohibiting Spouses From Certain Financial Activity During Divorce

Financial restraining orders are commonly utilized in high asset divorce cases, but spouses of any income level can benefit from this type of protection. A temporary financial restraining order may be used to prevent divorcing spouses from:

• Closing bank accounts

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In the United States, the average outstanding student loan debt for people who attended college is over $30,000. For many, this makes student loans one of their largest sources of debt, perhaps second only to a home mortgage. In a divorce, if you, your spouse, or both of you have student loan debt, it may factor significantly into the settlement negotiations or litigation, since separating couples in Illinois are required to distribute both marital assets and debts. However, it may not always be obvious which spouse will be responsible for the ongoing repayment of these debts.

When Are Student Loans Considered Marital Property?

You might expect that after a divorce, student loan debt will stay with the person whose education the loan paid for, but this is not necessarily the case. If you or your spouse incurred student debt before your marriage, it will likely be considered non-marital property and thus not subject to division. On the other hand, if one or both of you took out a student loan to pursue education during your marriage, any debt remaining on that loan at the time of divorce will likely be deemed marital property, especially if the reason for pursuing higher education was to increase earning potential in a way that would benefit the marriage.

How Is Student Loan Debt Distributed?

Illinois law requires the equitable distribution of marital property in a divorce, meaning that student loan debt will not necessarily be divided in half, but will be distributed fairly according to factors that apply in a case. These may include:

Divorce is labeled as one of the most difficult life experiences one can go through. Some even compare the emotions of divorce to those that come from losing a loved one to death. A scientific journal entitled Psychological Science published a study about which personality trait best enables people to successfully survive a divorce. According to the study, the trait that makes people most resilient after a divorce is referred to as “self-compassion.” Whether or not this trait comes naturally to you, there are a few ways that you can practice self-compassion when it comes to your divorce. 

Taking Time to Heal

Self-compassion is exactly what it sounds like: being good to yourself. However, this does not mean materialistically treating yourself. Instead, self-compassion has more to do with your philosophy and approach toward daily life, especially after the divorce. Here are ways to build this self-compassion and allow yourself to bounce back from your divorce:

While the major story with regards to divorce statistics in recent years is the fact that in most age segments, especially the Millennial Generation, divorce rates are on the decline (which should not be that much of a surprise given that marriage rates are also on the decline for this age group). But possibly an even more interesting and multifaceted development is the huge spike in gray divorces, or divorces for those over the age of 50, many of which can be very complex divorces due to the large variety and amounts of assets, properties, and debts amassed through the years. Here are some of the reasons for the increase in gray divorces.

5 Primary Reasons for the Increase in Gray Divorces

Over the last two decades, there have been twice as many gray divorces as there were in the past. This doubling of gray divorce rates suggests a trend. Here are some of the most common reasons that so many people over the age of 50 are getting divorced:

1. Less Stigma—These older generations have seen a dramatic shift in the way divorce is viewed by both society and religious organizations. Whereas in prior decades, divorce might have branded you as an outcast or someone who did not have the fortitude or fidelity to “make it work” in regards to your marriage. These days, you will probably hear someone say, “Good for them,” upon hearing of a couple’s divorce. That is because overall, everyone is much more accepting of divorce, especially due to the many negative consequences of failing marriages.

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Moving forward with a divorce is not always the most obvious or easiest decision to make. For instance, after careful deliberation, you might find that the most convincing reason to stay together is “for the sake of the kids.” Statistics have shown that in many cases, remaining married can do more harm than good, especially if you are in a loveless or volatile marriage. However, you and your spouse may not feel strongly enough about your marital problems to go through with a divorce right now. If that is the case, you might want to consider the timing of your divorce with respect to your children’s ages and their development.

Coping at Different Ages

The truth is, there is probably never a “good time” for your children to deal with divorce. Very few if any children come out of divorce entirely unscathed. It can take its toll, and depending on the children’s ages, among other things, it might be more damaging at certain stages of their lives. Here are some observations about how kids tend to cope with divorce at different ages:

• Babies—While babies cannot comprehend divorce, they can sense when there is conflict in the home between their parents. This can lead to irritability, clinginess, and some delays in development.

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