High end divorces can provides guideance on how to approach the financial aspects of your divorce in Chicago.
The complex situation of a divorce is never easy, and most couples will seek out a legal firm that can help them reduce the anxiety and stress that naturally result. A divorce involves the litigation process, the dividing of assets and taxation of investments. While a divorce attorney may specialize in both out-of-court settlements and lawsuits when necessary, a CPA’s assistance is often necessary for the proper dividing of substantial assets and issues related to taxation. Those who are in a divorce that will involve substantial assets and taxation issues should seriously consider working with a CPA.
My friend, Russell Knight, has opened up a solo general practice. He is both a divorce lawyer and criminal defense lawyer. In his blog Russell recommends doing a criminal background check on your spouse at the beginning of a divorce:
By presenting this [evidence of a criminal record] to the judge, an attorney is able to wake the judge out of his or her “he-said-she-said stupor” and begin portraying their client as the good guy and the other party as the bad guy.
Time.com has a an great article titled Will the Market Kill Your Marriage? that discusses why economic recessions increase divorce rates. Possible theories include:
- Lack of money exposes fundamental flaws in the marriage,
- Couples who had fundamental differences about money now have irreconcilable differences about it, and
- Financial worries cause stress, stress causes depression, and depression causes divorce.
The most interesting quote of the article:
A study that correlated Playboy centerfolds with market conditions found that men like fuller-figured women more in lean times than in boom times. The APA study showed that when stressed, women liked to eat. Bingo!
A fellow blogger has a post called If You Owe Back Support, Don’t Expect Your Stimulus Check. Well worth reading…
Money doesn’t always make everything better. In divorce, money sometimes makes things more bitter. Vanity Fair has a great article A Vast Right-Wing Hypocrisy that illustrates my point.