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Gray divorce requires planning ahead

On Behalf of | Jun 5, 2020 | Divorce |

After years of planning for the future, for some Missouri couples, the future really does not look too promising. Yes, they have their retirement savings and their history together, but the idea of spending their golden years with each other just will not work. More and more couples are discovering that their goals are no longer the same and the idea of spending the rest of their lives tied to each other is more of a burden than a joy. Many of these couples are seeking what has been come to be known as a gray divorce.

If it looks like a divorce is in one’s future, the individual will want to plan ahead. Based upon his or her age, it is likely that if he or she is not already retired, retirement is just around the corner. Financial stability will be an important factor. By planning ahead, the individual can know what he or she needs to focus on in order to achieve his or her goals post-divorce.

The first thing to do is to gather relevant documents. This should include bank statements, investment records, tax returns, estate planning paperwork and any loan or mortgage documents. Additionally, it may be necessary to obtain appraisals for valuable assets such as the home, jewelry, art work and more.

As the Missouri resident begins to recognize that he or she is approaching the golden years, life goals and priorities can change. For many, living life to the fullest is a top priority, and the realization that this cannot be done with the current marital situation can be the catalyst to make changes. Experienced legal counsel can assist the individual in evaluating the current situation and determining what needs to be done throughout the divorce process.

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