Anyone who follows rising trends among the 50-and-over crowd has likely noticed an increase of incidents in a particular area. In fact, although the overall national divorce rate appears to be declining according to statistics from recent years, among those age 50 and beyond, it has more than doubled in the past two decades. This has led many California retirees and others to seek information and guidance regarding the divorce mediation process.
A financial adviser recently noted that he often gets calls from newly retired people who say they’d like to schedule meetings to discuss a few general financial concerns. He says more often than not, this type of phrasing usually means someone is considering divorce mediation or litigation and is wondering how it would impact his or her retirement plan. As it happens, many retirees who file for divorce wind up facing substantial debt because they withdrawal money from their plans to cover divorce expenses.
The good news is that there are often options available for minimizing stress in divorce mediation or litigation and for seeking swift and agreeable solutions for settlements that don’t break the bank. The average person considering filing for divorce may not even be aware of such options. That is why most people turn to experienced family law attorneys for guidance before heading to court.
It remains to be seen whether the apparent rising trend toward divorce among the 50 and older crowd will continue to increase or begin to decline as time goes on. Anyone in California who wishes to discuss divorce mediation, the potential financial impact of divorce, or another particular issue related to the topic may request a meeting with a family law attorney in the area. An attorney is fully prepared to help find the most economically feasible options available for divorce in a particular situation.
Source: Forbes, “The Five Most Taboo Topics In Retirement: #4 Divorce“, Robert Laura, Nov. 29, 2017