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Recent Blog Posts
Does Living Together before Marriage Increase Divorce Risk?
Previous research indicated that couples who cohabitate before marriage were more likely to get end up getting divorced. Couples who waited until marriage to move in together, experts said, were more likely to have long and healthy marriages. Research done in the past few years, however, indicates quite the opposite. Cohabitation has become extremely popular with young people in America. In the last 50 years, there has been a near 900 percent growth in the amount of couples that cohabit before marriage. If you and your partner live together before marriage, are you destined for divorce? New studies say no. For whatever reason, cohabitation has become extremely common in America. Perhaps it is less pressure from parents, or the fact that American youth are frequently less religious than older generations. Other experts blame the recession. They say many couples do intend on getting married, but with low incomes, choose to wait. In the meantime, they move in together and often have children. This growing trend was troubling to many. Studies up until the early 2000's indicated that couples who moved in together before marriage were much more likely to get divorced. Research done only a few years old suggested that couples who cohabited prior to marriage were around 33 percent more likely to divorce. Thankfully, either that research was inaccurate, or the trend has dropped enormously. A paper published last year in the Journal of Marriage and Family says past studies have overestimated the likelihood of divorce for cohabiting couples. The author of the study found no correlation between cohabiting before marriage and divorce, but did find another indicator of divorce risk; age. "It turns out that cohabitation does not cause divorce and probably never did. What leads to divorce is when people move in with someone - with or without a marriage license - before they have the maturity and experience to choose compatible partners and to conduct themselves in ways that can sustain a long term relationship." Recent studies indicate that couples hoping for long term success should not move in together or get married before the age of 23. Some experts say that the longer couples wait to move in together or get married, the higher the likelihood their marriage will last. One study conducted by an economist at the University of Illinois-Chicago showed that each year a woman waits to get married, up until age thirty, lowers her chances for divorce.
Granny Scammers Utilizing Social Media to Prey on Seniors
Scammers who prey on senior citizens have been around for a very long time. Estimates indicate that each year, almost $3 billion are handed over to these con artists by unsuspecting seniors.
Some of the more common scams include Medicare fraud, counterfeit drug scams, telemarketing scams, sweepstakes scams, and investment fraud. Additionally, what all of these schemes have in common is tricking the elderly into handing over money—often substantial amounts.
There is a new ploy that has seen an alarming increase lately, referred to as the "Granny scam." These scammers use an elderly person's social media accounts to obtain personal information and use it to con the person out of money.
The person committing the con pours over social media sites, with Facebook being the most common. Important personal information is discovered on these accounts, such as family members names, nicknames, travel plans, place of employment, etc. Once a con artist is armed with that information, he or she will contact the elderly victim and, pretending to be the family member, claim to be in some sort of financial trouble and need money right away.
Finding a Divorce Attorney
Having a qualified attorney on your side is a key component of a successful divorce. You need someone you can trust and rely on, potentially for months or years, as they help you navigate the divorce process. Your future happiness may depend on the ability of your divorce attorney, so finding someone that is right for you is crucial. Finding the right lawyer, however, is much easier said than done. There may be many different law firms in your area, and you may not know which qualities to look for in an attorney. Finding this critical member of your divorce team can be overwhelming. Try taking these steps when searching for an attorney who is right for you. Decide What You Are Looking For The first step in finding the right attorney is deciding what criteria you are looking for. Think about the things that are important to you. Is cost an issue? Do you have a case that needs a lawyer with specific expertise? Are you more comfortable with an attorney of a certain background? Here are a few of the most common criteria people consider during their search:
Estate Planning for Victims of Alzheimer's Disease
According to the Alzheimer's Association, Alzheimer's disease is number six cause of death in this country. However, in the list of the top 10 causes of death, Alzheimer's disease is the only cause which shows no signs of being prevented or cured. The disease's progression cannot even be slowed.
In order to bring awareness to this disease, November has been designated as National Alzheimer's Disease Awareness Month. There are currently 5.3 million Americans who have been diagnosed with the disease, and those numbers continue to increase. Projections are that in 10 years, the number of people who are 65 years or older will spike by 40 percent—to 7.1 million.
For those who have been diagnosed with Alzheimer's Disease, what type of estate planning should be in place?
How to Handle Awkward Encounters with Your Ex
If the wounds of your recent divorce are still healing, running into your ex can be emotionally challenging. In a perfect world, everybody would receive ample time to recover and move on from their divorce before that awkward encounter with their ex. In reality, however, unless your ex has moved far away, you still face the chance of running into them somewhere. If you and your ex have children, encounters with your ex from time to time are even more likely. While there is no one way to make these encounters go perfectly, there are a few tactics you can employ to lessen the awkwardness and make the conversation go more smoothly.
If you have children with your ex, maintaining at least basic communication with them is necessary for the well being of your children. During your divorce process, you and your ex likely established a parenting plan, and you will both need to maintain open lines of communication to make co-parenting possible. While the majority of this can be done via phone call, email, or even text message, sooner or later you are going to end up in the same room as your ex, or at least at the same football or soccer game.
Study: Are Investors Really Aware of Signs of Fraud?
When it comes to investing your money, do you know what warnings to watch for that could be indicators of fraudulent activity? A recent study reveals that many seasoned investors may not be aware of the signs that could spell financial loss—possibly even disaster—for an unsuspecting investor.
The study, titled "Understanding Investor Perceptions of Financial Statement Fraud and Their Use of Red Flags: Evidence from the Field," was conducted by researchers from George Mason University, North Carolina State University, the University of Cincinnati, and the University of Virginia. A grant for the study was provided by Financial Industry Regulatory Authority (FINRA) Investor Education Foundation.
Surveys were given to 194 participants from 38 different states across the country. The gender of participants was split evenly between men and women, with the average age of between 40 and 49 years old. The average household income of study participants was between $60,000 and $90,000.
Expensive Divorce Cases Lead People to Crowdfunding
Going through a divorce is not only emotionally draining, but can be financially draining as well. Even the most amicable of divorces involve some costs, and higher conflict divorces can become expensive very quickly. While it is hard to estimate the average cost of a divorce in the United States, it is generally thought that any divorce case that goes to court will cost somewhere between $15,000 to $30,000, if not more.For the average American, paying tens of thousands of dollars to leave an unhappy marriage is not a feasible option. Of course, one cheaper alternative is a divorce that does not end in court.
Second, a successful crowdfunding campaign must be promoted and maintained. It is not as simple as creating a campaign and watching the money pour in. A person hoping to raise serious money through crowdfunding must market their campaign constantly. One has to be prepared to share their campaign everywhere and stay actively promoting it. This can be tough, especially while dealing with a divorce at the same time.
Will You Really be Financially Ready for Retirement?
Many people formulate plans for their senior years—they set up retirement and other investment accounts, and they draw up wills and other legal documents to help ensure that their senior years are indeed the golden years.
However, as people make these plans decades before the plans will actually be enacted, it is worthwhile to question whether or not they realize just how much they will need when those golden years arrive.
According to statistics from the Employee Benefit Research Institute, most people will see an approximately 20 percent decrease in household expenses between the ages of 65 and 75 years old, and an even larger decrease (35 percent) by the time a person hits 85 years of age. Still, there are major household expenses that remain no matter what the age a person is and those are the ones people have to plan for when they will no longer be earning a weekly pay.
Divorce Statistics: Illinois Listed as One of Least-Divorced States in America
It may seem as though divorce rates have been at an all-time high for quite some time, but according to a piece recently published in the New York Times, marriage is alive and well. In fact, it is actually striving and rates of divorce are on a decline. And Illinois just so happens to have one of the lowest divorce rates in the United States.
Half of All Marriages End in Divorce - Truth or Myth?
While about half of all marriages really did end in divorce back in the 1970s and 1980s, divorce has actually been on the decline ever since, according to Claire Cain Miller. In fact, around 70 percent of all couples married in the 1990s have managed to stay together for 15 years, and at least 75 percent of all marriages over the last decade are expected to make it until death.
More Seniors Opting to Rent Instead of Own
Owning a home is a goal that many individuals grow up with and consider as the "American dream." A home offers a place for families to raise their children. Later in life, a home provides a place for families to enjoy their golden years.
However, what is often not included in the description of the American dream is the cost and work that is required to maintain a home.
Over the past several years, more and more retirees are opting to sell their homes and are choosing to rent. In fact, statistics show that over the past 15 years, the number of retirees who own homes has dropped from approximately 85 percent to 75 percent. Additionally, projections show that over the next 10 years, more than 2 million seniors will make the decision to sell their home and rent.
One common reason for choosing to rent is the spikes and drops of the real estate market. Currently, the market is at a high, which means that it is a good time for sellers. Historically, when that high market reaches a certain point, it eventually comes crashing down and turns the real estate tables into a buyer's market. With that in mind, many seniors will make the decision to sell in order get the most money for their property. These funds can then be invested in such a way to boost a senior's monthly income.
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