If you are one of the many people in Nebraska who is over the age of 50 and are in the process of a divorce or discussing a potential divorce with your spouse, you will want to pay special attention to some financial matters that will be different for you than for a couple in their 20s or 30s. Gray divorce, the term used to reference divorces among people over 50, is more common today than ever but it does pose unique concerns for people.
As explained by Kiplinger, people who get divorced as they are close to retirement age – or even perhaps past retirement age – need to give serious consideration to their financial futures. The amount of money saved by a couple who has been married for several decades is likely to be split in some way during a divorce, reducing the amount of money each person will have to live on. This may delay their retirement plans or even make it all but impossible for them to retire.
For anyone looking ahead to the possibility of getting remarried, a prenuptial agreement is something they should seriously consider. This contract can help ensure assets are properly distributed after they die but can also protect them in the event that their new marriage fails, which is more common among remarriages.
This information is not intended to provide legal advice but is instead meant to give residents in Nebraska some information to consider and learn about when contemplating a divorce in their 50s, 60s or later.