Divorce is something that can happen to two people of any given age, as it is not only young people who are getting divorced. According to the National Center for Family and Marriage Research, senior divorce rates have been on the rise in recent years. When seniors talk to their divorce attorney, Brandon residents should be made aware that there are some aspects of the divorce process that may not be applicable to two younger individuals who are getting a divorce. Here are some very important things to consider for people who decide much later in life that getting a divorce is the best course of action between them and their partner.
Protecting Retirement Income
Many individuals are able to retire with the money that they have saved up with while working most of their lives, but this is not something that is protected from the division of assets of a divorce. All the possessions and assets that two people have accumulated through their marriage must be divided relatively similar, and this includes all money saved regardless of what it is being saved for. With the help of a divorce attorney, Brandon seniors may be able to work with their spouse to try to save as much retirement money as possible for each spouse during separation.
Remember to Update Your Estate Plan
It is not uncommon for two seniors to not have some sort of estate plan set in place in case something unpredictable happens to them or their spouse. It should be known that even if a divorce is finalized before something happens and the estate has not been updated, the other individual is still entitled to the conditions of that will or trust. With the help of a good divorce attorney, Brandon seniors will go through the process of updating their estate documents in order to make sure everything is taken care of before the divorce papers are finalized. It should Be noted that if someone does not want to update their estate plans that they do not have to, it is something that most people wish to square away.
*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Butash and Donovan*