Courtney ∙ Clark Law, P.C.Courtney ∙ Clark Law, P.C.
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Anticipating potential changes after divorce is essential

Regardless of the circumstances, anyone's financial situation can change at any time. This applies particularly to those who are in the aftermath of a divorce. For that reason, divorcing spouses in Illinois are advised to seek legal counsel to assist with the drafting of a settlement agreement to ensure all eventualities are covered. The inability to anticipate changes has caught many a divorced spouse unprepared.

While settlement agreements aim to be fair, it is unwise to base it purely on an equitable division of marital assets and current incomes of spouses without considering potential future changes. Shields from the risks of unexpected changes must be considered. Possible changes that are often not considered include post-divorce job loss or retrenchment, disability, significant asset depreciation, and drastic changes in the health of the children.

Unrealistic expectations of a post-divorce lifestyle can have significant practical, emotional and financial implications. Living on one income rather than two will, in most cases, force a drop in lifestyle. This involves not only keeping the house and being unable to maintain it but also trying to maintain a similar lifestyle for the children. Children can adapt to changed circumstances, and parents will likely do better to compete through better co-parenting than through lavish gifts and annual vacations.

There is no getting away from it; a divorce can drastically change anyone's financial stability and lifestyle. Although each divorce is unique, the basics remain the same. For that reason, the support and guidance of an experienced Illinois divorce attorney can be invaluable. A lawyer can assist with the drafting of a settlement agreement to make sure all potential eventualities are addressed.

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Courtney ∙ Clark Law, P.C.
104 South Charles Street
Belleville, IL 62220

Toll Free: 866-921-8767
Phone: 618-207-3458
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