Are you retiring and also facing divorce? | Colorado Divorce Lawyer ...

If so, you may be in a difficult situation. This is because most Colorado couples who have been married for some time and are approaching retirement age most likely have not planned for a divorce, financially speaking.

Most people do consider what their retirement will look like. But for married couples, they often do not consider what retirement might be like if they are single.

What is most important to consider here is that splitting up long-term assets can be quite difficult. For example, the most common marital asset that couples must divide is usually their home.

For those at or near retirement age, as well as those who were considering retiring in this home, this can be a devastating outlook. Many individuals may not want to give up their home to the other spouse, or may not want to sell the home and split the proceeds.

Another example concerns retirement accounts and pensions. These are even trickier than real estate if the employee is still working. Sometimes, it makes more financial sense to have a payout of a pension plan later on after the divorce has been finalized and the employee is retired.

Another option, however, is to determine the current value of the pension plan and make a settlement based on the immediate value of the account. This can certainly help if one party otherwise would not have any income to live on, but they could possibly be losing out if the account is not valued correctly.

There are, of course, many other issues that will need to be addressed when older Colorado couples are considering divorce and retirement is a factor. That's why these couples may wish to seek the help of a qualified family law attorney who understands the complexities of their situation.

Source: Reuters, "As more couples split, advisers face minefields," Jessica Toonkel, March 12, 2012

Source: http://www.denverfamilylawyerblog.com/2012/03/are-you-retiring-and-also-facing-divorce.shtml

pacquiao marquez pacquiao marquez penn state game radiohead tour cbsnews ufc on fox fight card florida marlins