divorce and separation Archives

The necessity of prenups

Florida residents who are planning to get married and have children should consider completing a prenuptial agreement before getting married, particularly if one spouse plans to remain at home to raise the children. If a divorce occurs, it can be very difficult for the stay-at-home parent to reintegrate in the workforce. Although custodial parents are likely to be awarded some type of child support, that financial support will end when the children become 18 years old. Having a prenup in place that specifies the financial responsibilities of both parents can help ensure that the stay-at-home parent will have some long-term financial security after a divorce.

Hopelessness can be the biggest factor in predicting divorce

Residents of Sarasota, Florida, and across the nation may wonder how to tell if their marriage may be headed toward divorce. Those struggling in their marriages may find it beneficial to evaluate their relationship and search for certain factors that serve as signs.

How older couples divide assets in a divorce

When older Florida couples get divorced, it may be less contentious. This is because children may have already left the home, and it may also be because both parties acknowledge that they have outgrown each other. However, it is still necessary to find a way to divide marital property such as a 401(k) or other retirement assets. These must be split in a specific manner when a divorce takes place.

Divorce can shed new light on family finances

For people over 50 in Florida and across the country, the divorce rate has doubled since the late 1990s. Many older couples have spent their entire lives with one spouse in charge of all major financial matters. In most cases, the husband manages financial matters such as investments, life insurance and retirement funds. Therefore, a later-in-life divorce can cause a financial shock when each spouse has to handle their own finances following a split. In addition, recently separated spouses may discover hidden or unpleasant financial realities of which they were previously unaware.

Late-in-life divorce can be complex

For people in Florida considering a divorce, the financial implications are some of the most challenging and difficult. This can especially be the case for people who choose to end their marriage later in life. In the past 25 years, the divorce rate for adults over the age of 50 has doubled and continues to escalate. While a long-term couple may have accumulated a significant amount of assets, the very nature of those assets may make them difficult to entangle as the divorce moves forward.

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