Ending a marriage, no matter when it occurs, is not without its difficulties. Both parties are left trying to figure out how to best move forward. Those in Missouri who are going through the divorce process later in life, however, will have just a few more concerns than those who end their marriages at younger ages.
According to the Pew Research Center, gray divorce has doubled since 1990. People are looking ahead at their retirement years and deciding that their marriages are not what they want. This is okay. It can, though, make being financially prepared for retirement a bit more challenging.
Those who divorce close to retirement lose time to make up the money and other assets that are lost in the process. For this reason alone, what is included in a divorce settlement is going to make a big difference in how each party is able to live in the so-called golden years. This is not a time to take a quick settlement just to get it over with as swiftly as possible.
Those in Missouri who are going through a gray divorce will need to carefully review and consider every option when it comes to dividing assets in order to make sure they are walking away prepared for what is to come. This is where having an experienced family law attorney at one’s side will prove invaluable. With the right help, a settlement that is fair and balanced can be achieved either through private negotiations, mediation or, if necessary, litigation.
Source: finance.yahoo.com, “Gray Divorce: The Financial Challenges and Opportunities“, Maryalene LaPonsie, April 20, 2017