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Believe it or not, divorce can have some financial benefits

On Behalf of | May 28, 2022 | Uncategorized

These days, financial issues doom countless marriages in Illinois and across the country. Monetary woes can turn a once blissful marriage into one fraught with conflict. On top of that, divorce is often a costly process. But it’s not all bad news. Those who divorce may be encouraged by these financial silver linings. 

More monetary control 

One benefit to the end of a marriage is that it often means no more fights over money. Divorce can free a person from financial disputes. For example, divorcees will no longer have to argue over budgets or plead with a spouse to control spending. Divorced individuals can put more money toward personal goals and desires. 

More college financial aid for children  

At times, divorce can be even more difficult for children than for adults. However, children of divorced parents could be able to obtain more financial aid for college. To apply for financial aid, students fill out the Free Application for Federal Student Aid (FAFSA), which only requires financial information from the custodial parent and not both parents. Divorce usually lowers income, so children going to college may be able to receive more financial aid. 

It is very easy to be resentful and pessimistic in the aftermath of divorce. However, divorce can act like a personal reset and may be a great opportunity for a fresh start. Those in Illinois who have questions or need help with any aspect of divorce can consult with a trusted legal representative. A knowledgeable attorney can help individuals navigate this event and move forward with their lives.