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Tag Archives: asset division

Financial Issues When Older Couples Divorce

When a New Jersey couple decides to divorce, they will have to deal with splitting up their assets, which is a process that can be contentious regardless of the age of the spouses. However, for older couples, especially those nearing retirement, property division can have an even bigger financial impact, since there is less time for the parties to earn income on their own to fund their retirement.

Between 1990 and 2013, the number of divorces involving couples who were the age of 50 doubled. This is a cause for concern, as research done by a Bowling Green State University professor indicates that older divorced individuals frequently end up in poverty.

The researcher’s studies indicate that 30 percent of women who are 62 or older and divorced live in poverty, while for men in that age group, the number is 14 percent. To contrast this, only 4 percent of couples who are married at that age are living at or below the poverty line. This indicates that asset division and retirement issues are major stumbling blocks for older individuals who divorce. Part of the issue is that retirement accounts may not be liquid, so splitting up assets may not involve a clean break. Further, there is the issue of determining if the total amount of funds in the account will be split or just the portion attributable to contributions that were made during the marriage.

Going through the divorce process at any age can have significant financial implications for those involved. Along with the issue of determining how property will be divided, people may also be ordered to pay child support or alimony. A family law attorney can explain the procedures and issues involved to a client who is facing the end of a marriage.

High Asset Divorce In New Jersey

Divorce can be emotional for any couple, but a high-asset divorce can become contentious and prolonged as property division matters are decided. A divorce that involves significant investments, properties, money and other assets requires careful attention to values since untangling marital assets can be complicated. Understanding of divorce law is crucial in evaluating your assets… Continue Reading

Former Dodgers Owner Caught In Divorce Fees Battle

New Jersey couples who are going through divorce may be considering creating a divorce settlement with stipulations on how future disputes of the agreement should be handled. While this isn’t always a procedure that’s followed, it may be more important with high-net-worth divorces, where both parties have large financial resources and more is at stake… Continue Reading

High Net Worth Divorces Are More Complicated Than Most

Getting a divorce in New Jersey is more complicated for those with a high net worth. Often, the more assets couples have, the more complex the asset division will be. Financial advisors report that property division in a high net worth divorce often involves assets that are difficult to separate. Divorcing couples sometimes have to… Continue Reading

Billionaires Increased Share Value May Be Shared In Divorce

New Jersey couples who have significant assets may be interested in the legal rulings regarding the divorce of one oil billionaire. The rulings categorize some assets as pre-marital, but questions still remain pending a further trial set to begin soon. Billionaire Harold Hamm married his wife Sue Ann in 1988. Hamm is a majority shareholder… Continue Reading

Women And Spousal Support

In the last decade, the number of men who stay home while their wives focus on their careers has doubled. Additionally, in 40 percent of dual-income households, women make more money than their husbands do. While these are both signs of societal progress, it has also led to an increasing number of women with a… Continue Reading

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