While the divorce rate among younger people is dropping, it has climbed for baby boomers, and in 2010, people over the age of 50 were twice as likely to get divorced as they were in 1990. Experts believe this may be one reason more people of retirement age are continuing to work. Divorce close to and after retirement affects Florida residents financially in a number of ways.
How divorce late in life may affect retirement
Common issues regarding divorce and the military
If you are currently serving the nation as a member of the military, or are married to someone who is, certain challenges may arise if you are considering divorce. Before you take any sort of formal action, it is typically best to seek the clarification of state and federal laws, and military rules, that directly pertain to your divorce.
Money issues and divorce
Up to half of all first marriages end in divorce, and the percentage climbs even higher for subsequent marriages. Disagreement over money is a common conflict. Florida couples who are planning on getting married might want to have conversations about money to reduce their chances of divorce.
A home can create property division challenges during a divorce
For many Florida couples going through a divorce, the marital home can be at the center of a battle with emotional and financial implications. A home may represent the largest financial investment a couple might make during their marriage, but it would be wrong to look upon it as nothing more than an asset. It is often the place where a family started and children were raised, so deciding what should be done with the house can be a contentious divorce issue.
