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Wheaton spousal maintenance attorney

The decision to end a marriage can be emotionally, financially, and even physically devastating. A trusted therapist may help ease emotional stress, but what about the worries regarding finances? Regardless of whether your divorce is amicable or tumultuous, you will need to understand how to protect your rights to the marital estate. If you are facing a divorce and are unsure how to protect your financial interests, you should speak with a knowledgeable family law attorney to explore your potential next steps. In the meantime, here are answers to some of the most frequently asked questions about finances during divorce:

How Much Will a Divorce Cost?

There are many expenses associated with the divorce process. You will be required to pay a variety of court costs and filing fees, and the costs of hiring and working with an attorney throughout the divorce process may add up to several thousand dollars or more. In addition, there are a variety of other ways that legally ending your marriage can impact your finances, including:

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Lombard estate planning lawyersIf you watch television at certain times of the day, you are likely to see occasional advertisements for reverse mortgages. These ads often run in similar timeslots as commercials for arthritis medication and electric scooters. It is clear that they are intended to reach a certain demographic—namely, seniors who are starting to consider the reality that they will not live forever. As with most television pitches, it understandable that the audience would be skeptical, but a reverse mortgage may be an option for certain individuals and families.

Reverse Mortgages Defined

Most people understand that a standard mortgage is a financial arrangement in which a lender provides a borrower with money to buy real estate, including a home. The property itself is the collateral used to secure the loan. The borrower makes regular installment payments until the amount borrowed and any accumulated interest is repaid.

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