Marriage and divorce trends change from time to time. Those changes in norms often mean that family law focuses shift, too. Just because a couple isn't already married or in the process of divorce, for example, doesn't mean that there are no legal matters for them to iron out.
Women have money and businesses to protect in divorce, pt. 1
Times change. Norms change. Gender roles change, even if stereotypes and assumptions don't. Family lawyers report that it isn't as uncommon these days to handle a divorce wherein the wife, not the husband, earns the most income in the household.
Boomer divorce comes with more financial complexity
The last thing that some in the process of divorce want to do is to have to spend more time talking about money with their ex. Money is often the point of contention among spouses that can lead to the desire to divorce. But for the more and more from the Baby Boomer generation who are opting to divorce later in life, financial teamwork post-split might be extra important.
Baby Boomer divorce comes with more financial complexity
The last thing that some in the process of divorce want to do is to have to spend more time talking about money with their ex. Money is often the point of contention among spouses that can lead to the desire to divorce. But for the more and more from the Baby Boomer generation who are opting to divorce later in life, financial teamwork post-split might be extra important.
A hasty divorce could set people up for financial hardship
There are so many different aspects of life that are affected by marriage and, therefore, divorce. While the emotional aspect of a split is complex within itself, the financial aspect of divorce has its own complexities.
Unbeknownst to widow, by divorce not death did she and spouse part
A person would know if she had gone through a divorce, right? In an out-of-state case, an elderly woman who believed she and her husband had been married for more than 30 years didn't know that her husband had divorced her almost a decade before his recent death.
Post-nuptial agreements increasing in popularity
Divorce attorneys are indicating that post-nuptial agreements are becoming more popular among married couples. According to a poll of divorce lawyers done by the American Academy of Matrimonial Lawyers (AAML), 51 percent of family law attorneys note an increase in post-nuptial agreements over the last three years. The lawyers polled also noted that 36 percent of post-nuptial contracts are requested by the wife rather than the husband.
Dividing complex assets in a divorce
When married, a couple owns property together. It is as if they, as a married couple, are one entity. When they divorce, however, that marital property needs to be divided. Marital property can be simple to divide or extremely complex. It depends on the type of property and the contentiousness of the divorce.
Divorcing Your Insurance Policies
When going through a divorce, you and your spouse will be required to equitably divide your assets and debts. In addition to this division of property, you will also be required to work out a plan to separate your insurance policies.
Tips on Life Insurance and Divorce
Life insurance policies are an important asset in the divorce process. Divorce decrees often require the obligor - the spouse paying child support, spousal support or both - to take out or continue a term life insurance policy to secure those support responsibilities in the case of his or her unfortunate death.
