Litigated divorce can be stressful, expensive and time consuming. Courtroom battles often intensify the emotional and financial stakes of the end of a relationship. Fortunately, there are other options.
What is 'gray divorce' and why does it matter?
There has been a divorce phenomenon that has shown no signs of slowing down in recent years. Dubbed "gray divorce," the phenomenon relates to the staggering rise in divorce rates for people over the age of 50. Data from the National Center for Health Statistics and the U.S. Census Bureau shows that in the 1990s, only five in every 1,000 married adults were divorced. In 2015, that figure was up to 10 in every 1,000 married adults.
Protecting assets in divorce after 50
Filing for divorce is challenging at any stage. If you are 50 or older, with an eye on retirement, your investments, assets and retirement accounts become even more important during divorce proceedings.
Include this, avoid that: the ins and outs of prenups
Last Saturday we wrote a post on prenuptial agreements and how a divorcee could successfully challenge such a contract. Some people think prenups can't be challenged, but to the contrary, there are plenty of circumstances where a challenge to a prenup could be successful.
The paths forward if you want to challenge a prenup
A prenuptial agreement is an important contract nowadays that can protect both spouses in a marriage. Many issues can be addressed in the prenuptial agreement, and these matters can help a couple with their marriage or expedite the divorce process, should the relationship come to that. But one thing that a prenuptial isn't is impregnable.
Separation can help you transition to divorce
Many couples that are married but unhappy with their relationship take the immediate step of filing for divorce. This can be a the right move for many, but some should consider the benefits of legal separation. This is an uncommon route for unhappy couples, but it can really behoove those couples to take this route if they are unsure about the finality of a divorce.
