A national center that frequently provides information on social issues, public opinion and demographic trends recently reported that more older couples are deciding to end their marriages. According to data, in the past 25 years, divorce among those 50 years old and over has doubled. Many Wyoming couples and others around the country seeking a divorce have been married a long time and have adult children.
In several instances, experts report that one partner has determined that he or she simply does not want to stay married to the other. However, when couples have been married many years, it is more difficult to sort out financial issues. This has created a situation where many couples don’t’ file for a divorce immediately, but rather live separately for an extended period of time. These so-called legal separations can prove beneficial for many couples.
When a marriage is coming to an end, emotions can be running high and clarity in decision making may be cloudy. The separation can provide a time to diffuse the situation. It is also important to establish financial responsibilities in the separation. One spouse may make financial decisions that could greatly impact the other unless provisions are specified in an agreement. While many financial decisions could be addressed, others, such as division of retirement accounts, cannot be determined without an official divorce decree.
Going through a divorce can be an emotional experience and discussions of finances may complicate the process. However, it is important to protect one’s current financial situation and that of the future. A Wyoming attorney can provide valuable guidance in navigating the complexities of the divorce process. An experienced family law attorney will work to achieve the best outcome for a client in the proceedings.
Source: stltoday.com, “Older couples ponder financial impact of divorce“, Beth Pinsker, May 14, 2017