Cook County Family Law Blog

Millennials, those people born between 1981 and 1996, are a group who are reaching new stages of adulthood. Many are buying homes and starting families. They're getting married -- and many are also thinking about how to protect themselves in the event of a divorce.

It's an interesting fact that the divorce rate in America is generally decreasing. Part of the reason for the decrease is that millennials, in particular, are not quick to rush to the altar. That delay gives them longer to make the decision to get married and to be sure of that decision once it's made. However, that doesn't mean that they are oblivious to the possibility of a divorce.

When you met the person you wanted to marry, you likely had dreams and goals of how your future life would unfold. Perhaps those goals included having and raising a family together. Maybe you both have entrepreneurial spirits and dreamed of becoming business partners. No two couples are exactly the same; therefore, each marriage is unique. What is common to most couples, however, is the fact that most encounter relationship challenges at some point.

If you're among those in Illinois who determined that certain issues made your relationship unsustainable, you might also be among those who have filed or are preparing to file for divorce. When your dreams and goals in life change, it can be quite stressful. By building a strong support network, however, and taking one step at a time, you can lay the groundwork for a successful, new lifestyle.

Collaborative divorces are very popular because they save time and money while preventing serious conflict. A Collaborative divorce takes your divorce out of the traditional trial-based system and places into a setting where you're expected to negotiate to resolve disputes.

There are many benefits to going through a Collaborative divorce rather than taking your disputes to trial. These include:

• Saving money and emotional distress
• Having a less formal setting to discuss your divorce's resolution
• Being able to freely exchange information in an honest, informal environment
• Being able to negotiate for a result that works for you and having control over that result instead of having one imposed on you by the court
• Deciding how to handle disputes over settlements that already occurred
• Working effectively on your divorce with the support of team members that are appropriate for your case

When you're an older divorcee, one of the things you have to be cautious of is protecting your finances. You may need retirement funds, or you might need to focus on obtaining part of your spouse's pension. Whatever the case may be, the reality is that you may not have time to start a new career or to move up to the level you would have if you'd started younger.

The cost of living is much higher for individuals than it is for people living together. In fact, your expenses may be 40% to 50% higher if you're living alone. The reality is that divorcing later in life can ruin retirement plans since you'll be focused on paying up to 50% more to cover your financial needs. That could mean you have to go back to work, even if it wasn't in your original plan. It also means you may need to seek out additional spousal support or maintenance.