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DuPage County divorce attorneysThe decision to end your marriage is never an easy one, but perhaps no other group has as difficult of a decision to make as parents. Many parents try everything they can to stay together, but ultimately decide that they simply cannot make their marriage work. If you are a parent who has decided to divorce, you probably spend a lot of time worrying about how the divorce will affect your children. While it is likely that the transition will be challenging for the whole family, children are fully capable of living a happy, healthy life with divorced parents. Read on to learn the top three tips experts say will help your children cope with your divorce.

Tip #1: Do Not Fight in Front of the Kids

The number one thing that mental health and child development experts say not to do during divorce is to fight with your spouse in front of the children. Because children naturally have a self-centered view of the world around them, they often think that parental arguments are somehow their fault. It is best to keep adult conversations away from the children whenever possible. If you need to have a heated discussion with your spouse, try to find a place which is out of kids’ earshot to do so.

Tip #2: Allow Children to Express Their Feelings When They Are Able

Children can have a wide range of reactions to the news that their parents are getting divorced. While some will immediately start crying and expressing their sadness about the split, others will not immediately be ready to discuss their feelings. Try to give children the space they need to process the complicated emotions that come with this major life change. Let them know that you are available to talk and answer questions, but do not force the conversation. When children are ready to talk, they will, as long as they feel safe to express themselves.

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DuPage County high net worth divorce lawyerWhen Amazon founder and “world’s richest man” Jeff Bezos announced his divorce from his wife MacKenzie Bezos, the media called it the most expensive divorce in history. Jeff Bezos’s estimated net worth is an astounding $131 billion. When wealthy individuals or business owners get divorced there are many additional factors which must be considered. Because there is so much at stake, it is crucial that divorcing high-net worth individuals seek counsel from a knowledgeable divorce attorney with experience handling high asset or high net worth divorces. If you own a business or have complex investments and a high net worth, make sure to avoid these common mistakes during divorce.

Rushing the Divorce Process

When a marriage ends because of an affair or other hurtful scenario, the couple often wants the divorce to be finalized as soon as possible. Even couples who have not had a dramatic end to the marriage may want to get the divorce over with quickly so that they can move on with their lives. Unfortunately, high-net worth divorces are rarely speedy. Business valuations or asset valuations could take months or even longer to complete. In addition to your attorney, you may require help from a financial advisor, forensic accountant, or other professional in order to sort out your finances during a high net worth divorce. When divorcing couples rush, they can make hasty decisions which end up costing much more in the long run. While it is understandable that you want your divorce to reach a resolution as quickly as possible, rushing or skipping important steps in the divorce process can lead to more trouble than it is worth.

Letting Emotions Dictate Your Divorce Settlement

If you are like many divorcing individuals, you may have feelings of guilt, regret, anger, or resentment. While these feelings are completely normal, it is critical that divorcing couples make decisions based on fact instead of emotions. When emotions drive divorce decisions, mistakes can be made which lead to more regret in the future. For example, the spouse who wanted the divorce often feels tremendous guilt for leaving his or her partner. In an attempt to absolve himself or herself of this guilt, he or she may agree to an exceedingly unfair division of property or spousal support arrangement. Because the consequences of the decisions made during divorce can last years or even a lifetime, it is crucial to make decisions based on facts and advice from divorce and financial professionals.

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Posted on in Divorce

DuPage County divorce attorneysDespite the inherent difficulties, most couples headed for a divorce are able to maintain a reasonable level of civility and personal responsibility. In some cases, on the other hand, the divorcing parties may be prone to making decisions that can negatively impact the proceedings. From a financial perspective, this may include wasting or dissipating marital assets, either out of spite or due to an attitude of apathy regarding the situation. Sadly, however, the emotional nature of divorce may also lead to accusations that are unfounded, so if your spouse has filed a groundless claim for dissipation, you will need to know how to protect yourself.

What is Dissipation?

Dissipation, according to the law, is the wasting or inappropriate spending of a marital asset during or subsequent to the irretrievable breakdown of a marriage. The problem with dissipating assets is that doing so can directly impact many of the financial considerations of the divorce process. Spousal maintenance, property distribution, and child support are all dependent upon the assets, resources, and income of the interested parties. Wasted assets are, if not addressed and repaid, may not be taken into account as required, potentially tainting the outcome.

Timing is Important

When your spouse has accused you of dissipation, he or she will need to show that the spending in question occurred after the marriage had begun to break down. Economic irresponsibility may be a problem in many marriages, but if it occurs before the relationship actually begins breaking down, it is not considered dissipation. Therefore, you may be able to successfully dispute the claim that your marriage was beyond repair at the time of the alleged dissipation.

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