Tag Archives: pensions

Surviving Divorce as a TeacherTeachers have a lower divorce rate as compared to other professions, but those who do get divorced face unique challenges. As a teacher, your primary concern is usually for your students. Your caregiving nature likely extends to your home life, as a spouse and parent. During your divorce, you may be focusing on your own needs more than you are accustomed to doing. It is important to take care of yourself during your divorce and plan how you will balance your teaching career with your personal needs.

Taking Time Off

Most divorcees use occasional personal days in order to attend meetings or court hearings. Teachers must also be aware of their emotional state and how it may affect their students:

  • You must be able to make it through the school day without emotionally breaking down in front of your students; and
  • Being distracted by your divorce may make you less attentive as a teacher.

Now is the time to use your sick and personal days if you have accumulated them over several years. If you do not have many days available, ask your human resource department about your options if you need additional time off. Your students need a teacher who is able to be fully engaged in their education.

Continue reading

Kane County divorce attorneyDepending on the position you hold, you might have a pension plan. A pension is a fund that a working individual contributes to during his career, which is then invested by the manager of the pension in an effort to have the fund earn money. The intent is to put the worker in a position to retire comfortably. When the worker retires, he or she receives a monthly payment from his or her pension. Many Americans rely on multiple retirement accounts, which can include IRAs, 401(k)s, 403(b)s, and health savings accounts as well as pensions to save money for retirement. In a divorce, retirement accounts are treated the same way as all other assets – subject to division according to the doctrine of equitable distribution. This is true even if you opened your retirement accounts before you were married because you continued to contribute to them during the marriage.

Your accounts may be divided into “marital property” and “singly-held property” portions by determining how much money they contained before you were married to determine how much money may be considered to be part of your marital estate. Before you enter the property division process, talk to your lawyer about how your pension will be valued so it can be distributed in an equitable manner.

Valuing Your Pension

Continue reading
Goostree Law Group

Goostree Law Group

 555 S. Randall Road, Suite 200
St. Charles, IL 60174

 630-584-4800

 1770 Park Street, Suite 205
Naperville IL 60563

 630-364-4046

 400 S. County Farm Road, Suite 300
Wheaton, IL 60187

 630-407-1777

Our Illinois divorce attorneys represent clients in Kane County, DuPage County, Kendall County and DeKalb County, including Geneva, Batavia, St.Charles, Wayne, Wasco, Elburn, Virgil, Lily Lake, Aurora, North Aurora, Elgin, South Elgin, Bartlett, Crystal Lake, Gilberts, Millcreek, Maple Park, Kaneville, LaFox, Yorkville, Oswego, Plano, Sugar Grove, Big Rock, Bristol, Newark, DeKalb, Sycamore, Naperville, Wheaton, West Chicago, Winfield, Warrenville, Downers Grove, Lombard, Oak Brook, Streamwood, Hoffman Estates, Barrington, South Barrington, Lake Barrington, Schaumburg, Big Grove, Boulder Hill, Bristol, Joliet, Kendall, Lisbon, Minooka, Montgomery, Plainfield, Sandwich, Yorkville and many other cities.

ovc
Contact Us
Chat Us Text Us