Which Profession Has the Highest Divorce Rate?

 Posted on June 23, 2023 in Divorce

There are variations in divorce rates among different professions. A recent study revealed that gaming managers–individuals who manage casinos–and bartenders bear the brunt of this reality, with a staggering divorce rate of over 50%​. Working long hours outside conventional business hours can significantly strain a relationship, leading to its ultimate dissolution. In this blog post, we will explore the specifics of getting a divorce in Illinois, with a focus on professions that are particularly susceptible to high-risk situations.

Illinois Divorce Laws: No-Fault Grounds

Illinois updated their divorce laws in January 2016. Only "irreconcilable differences" is now a valid reason for divorce, which replaced previous reasons like abuse or adultery. Couples in Illinois who desire divorce must now provide evidence that their marriage cannot be mended due to their differences and there is no chance of reconciliation.

Equitable Distribution: Fair but not Necessarily Equal

In Illinois, when a couple gets divorced, assets are divided fairly and equitably, but not necessarily equally. This is because factors like how much each person contributed to the marriage, the value of the property, and each person's future income are considered. Since each case is different, there's no set way to divide assets.

Debt and Divorce: A Shared Responsibility

In Illinois, all debt accumulated during marriage is the joint responsibility of both partners, regardless of who incurred it. The division of debt will be done fairly, considering each party's level of responsibility and ability to pay. Non-payment of debts may negatively affect the credit scores of both parties.

Gifts, Inherited Property, and Retirement Plans

In a divorce in Illinois, gifts, inherited property, and retirement accounts have special treatment. Gifts that one spouse receives are not considered marital property and are not divided between spouses. If married individual inherits a property, it is considered as their separate property. However, if they mix it with their shared assets, it may lose its separate status. However, retirement accounts such as IRAs, pensions, and 401Ks are usually marital property. They are subject to laws that mandate fair distribution, sometimes necessitating assistance from financial professionals to determine an accurate value.

Contact a Wheaton Divorce Lawyer Today

Navigating the divorce process in Illinois can be difficult due to the complex and varied legal requirements. Having a clear understanding of these specifics can help bring clarity during this challenging period. Working with an Illinois family law attorney can help you along the way. Call Goostree Law Group at 630-584-4800 to see what your next steps should be.

Source:

https://www.forbes.com/advisor/legal/divorce/divorce-statistics/

https://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=075000050K402