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West Dundee, IL847-428-7725
St. Charles, IL630-200-4882
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Algonquin Divorce Lawyer

The oft-quoted statistic about 50 percent of marriages ending in divorce is incorrect and has been for some time now. Divorce rates have declined since the 1980s and it is now estimated your chances of divorce are at about 39 percent. Even though this seems like good news, it is not necessarily an indication that the number of people living happily ever after with their spouse has increased. 

Much of the drop in the divorce rate is due to the generation known as millennials, who are less likely to get divorced. A recent study said millennials were 18 percent less likely to divorce than young married couples in 2008. There are numerous potential reasons behind this shift.

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Kane County Prenup Lawyer

When couples decide to get married, they may have a prenuptial agreement prepared before the wedding. A prenuptial agreement (prenup) goes over how a couple will divide their assets and handle other matters if they were to get a divorce. 

Marriage trends in society constantly change over time. A shift in gender roles, lifespan, and expectations of marriage have led to an increase in the prevalence of prenups with the millennial generation. 

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Carpentersville divorce debt division attorneyA recent study has found that 13% of divorced people with student loan debt cite this debt as the cause of their divorce. Traditionally, financial concerns have been a common reason for the dissolution of a marriage, and it appears that student loan debt is a new aspect of this issue.

Student loan debt acquired by either spouse may present complex considerations in your divorce case. It is advisable that an attorney review your case to make sure that these and other debts are handled properly during your divorce proceedings.

Student Loan Debt Reaches New Highs

While not as commonplace in older generations, student loan debt has been increasing in recent years. Both the number of borrowers and the amount borrowed have significantly grown. More than 44 million people in the United States have student loan debt, and it is estimated that the total amount of this debt is $1.5 trillion. Those graduating college in 2017 left school with an average of $39,400 in student loan debt.

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