Fifty years ago, fewer than three percent of individuals over 50 in the United States were divorced. By the turn of the millennium, that number had grown to about 12 percent. While divorce is difficult at any age, the age of the couple can affect a couple's priorities. For instance, while younger couples tend to be concerned with child custody issues, older couples are often more concerned about property division and financial matters.
Geographical impact on marital asset property division
When a couple files for divorce, where they get divorced can have a significant impact on how the marital estate is divided. The reason for this is that different states have different rules concerning property division and these rules can have a sizeable effect on who gets what in a divorce. Minnesota couples facing the unfortunate task of managing a divorce asset split might find the following post on property division and divorce informative.
Retirement considerations in the property division process
Divorce can be a nerve-racking experience. For couples over the age of 50 one of the biggest concerns is whether dividing marital property will have a significant effect on their retirement. While divorce will likely have some financial impact, with a little planning it is possible to minimize the damage. Minnesota couples pondering divorce may find the following tips on planning for retirement during a divorce asset split helpful.
Dividing retirement accounts in divorce asset split can be tricky
Whenever a married couple decides to divorce, they must come to an agreement on how they intend to divide their assets. Common assets available for division include the family home, investment accounts, debts and even household items. The most difficult items to divide are often less tangible assets like life insurance and retirement accounts. Minnesota readers may find the following blog on property division and retirement accounts intersting.
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