A recent study by the ING U.S. Retirement Research Institute looked at the effect divorce has on individuals feeling financially prepared for retirement. The negative effects are, in part, due to mistakes people make while still married and subsequently during a divorce that may have an effect on their retirement funds, especially for women.

The study found that only 45 percent of divorced individuals felt prepared for their retirement compared to 54 percent of married persons. It also found that those who were married (or living as married) independently saved $40,000 more on average for their retirement compared to singles.

The disparity is even greater for women. Women who were divorced had $34,000 less in total retirement savings than men. This is especially troubling considering women on average live longer than men.

...

If you are considering filing for divorce, you are likely aware of the different approaches you can take to end your marriage. Not every dissolution of marriage is carried out in the courtroom – in fact, it can be much faster, easier, and less expensive to divorce outside of court.

Mediation is a popular way for couples to divorce. With mediation, the couple works through their issues in a calm, non-threatening environment with help from a licensed mediator.

Mediation is not the best approach for every divorcing couple. When there are accusations of domestic violence or other criminal activity cited as the reason for the divorce, uncontrollable rage or other negative emotions, or one spouse is battling a substance addiction, mediation is usually not the best choice. Talk to your attorney about the circumstances and details of your divorce and let him or her help you determine whether or not the mediation approach is right for you.

...

Child custody struggles are often high stakes, emotional legal proceedings, and judges understand this. While judges see these sorts of disputes often, they are generalists and not necessarily experts on family dynamics and child development. Consequently, they may choose to order something known as a 604(b) evaluation, named for the portion of the Illinois Marriage and Dissolution of Marriage Act that allows it. These 604(b) evaluations involve an expert, usually someone like a psychologist or social worker, sitting down with the family members and conducting interviews to make a recommendation about child custody.

How Evaluations Work

These child custody evaluations are done by a neutral third party whose goal is to offer an opinion on the best custody structure for the children. The examiner will almost certainly conduct at least one interview with the child as well as with each parent, although there is the potential for the process to be considerably longer. The examiner may also choose to interview other adults that the child or family interacts with to get a fuller picture of the family dynamics. Finally, the examiner may also look over documents that are important to the custody determination.

Importantly, the evaluator's recommendation is just that, a recommendation. The evaluator is not a judge, and does not have the authority to make binding legal decisions. However, the recommendation may carry significant weight with the judge because it is being made by a neutral expert. Consequently, parents who are about to go through a child custody evaluation should be sure to understand how to have the best evaluation that they can. Tips for a Good Evaluation

There are many different things parents can do to involve the quality of their evaluation. One of the most important is to make a good first impression on the evaluator: be ready and on time for the interview, be polite, and be prepared with any necessary documents. Another important tip for a good evaluation is to be honest. The evaluation can be quite thorough, so dishonesty or exaggeration stands a good chance of being uncovered. This can damage a parent's credibility with the evaluator, and call other statements of theirs into question.

...

One of the most important pieces of any divorce proceeding is the child custody portion. During the child custody phase, the court determines how the parents will raise any children who resulted from the marriage. This can mean developing a custody arrangement where both parents share control of the children, or giving custody to one parent over the other. The high stakes of child custody decisions means that parents entering a divorce often look to divorce lawyers to make predictions about the outcome of child custody decisions. Unfortunately, Illinois law makes it difficult to predict how judges will rule when making custody decisions.

Types of Custody

There are two different ways to classify custody, and each is important for the purposes of divorcing parents. The first distinction is legal custody versus physical custody. Legal custody is the ability to make decisions on behalf of the child. As a parent that will affect how the child is raised, such as what school the child attends. Physical custody is a much more direct form of custody. Physical custody determines which parent has actual physical control over the child during their upbringing.

...

DuPage County Family Law Attorneys Look at National Divorce Rate Declines

Will DuPage County divorce lawyers see declining divorce rates in 2015?  According to a New York Times TheUpshot article, the U.S. divorce rate has been on the decline and no longer is it true that half of all marriages end in divorce. According to the article, the divorce rate peaked in the 1970s and early 1980s and has been decreasing for the last 30 years.

Marriages occurring in the 2000s are seeing far less divorce rates. If this current trend continues, nearly two-thirds of marriages will never result in a divorce, according to Justin Wolfers, contributor to The UpShot and a University of Michigan economist. The lowering divorce trend has been said to be in large part due to changing gender roles and the expectations of marriage from women. The article covers additional reasons for the national divorce decline including later marriages, birth control and the increase of marrying for love.

Will divorce attorneys in DuPage County see a decline in clients as the U.S. divorce trend lowers?  It depends upon a number of factors. The article spotlights that the decline in divorce rate is concentrated among people with college degrees. Being higher educated creates an opportunity for both spouses to work and to be able to establish a stronger financial foundation for their marriage. For marriages where the couple is less educated, the divorce rates are closer to those of the peak of divorce years.

...