Serving Truckee, Sacramento, Reno, Tahoe City, South Lake Tahoe, and Roseville, Call: 530-214-0385

The trouble with baby boomer divorces

For those who pay attention to America’s divorce rate, it is indeed increasing. According to a Fortune.com report, it could be attributable to the greater number of baby boomers who are getting divorced.  Indeed, this may be due to changing views about marriage or economic independence. However, graying divorcees may face challenging financial circumstances after a divorce.

After all, older divorcees may be faced with a shrinking pool of assets to fund their respective retirements. Marital assets are split during a divorce, meaning that retirement accounts, pension plans may not be as valuable when divided into two. This may lead to the realization that there isn’t enough to use for retirement. So this may force significant changes to retirement plans altogether.

Further, retiring as a single person could cost more since divorced retirees may not share their expenses. For instance, they may have to pay rent (or a mortgage) on their own, they may have to take separate trips to see grandchildren, and may not have as many resources to pay medical expenses.  

Ultimately, older divorcees must take more time to plan for life after divorce since they do not have the luxury of time to “figure things out” as younger people do. With many more assets to divide, a divorce will be just as much a business dissolution as it will be an emotional one.

If you are considering divorce, would be prudent to consult an experienced financial advisor to work with a family law attorney in order to understand the financial implications of one’s legal decisions. 

No Comments

Leave a comment
Comment Information
Set up an Initial Consultation »

Need Our Help?

Contact us today to set up an initial consultation with an attorney in Truckee, Sacramento, South Lake Tahoe, or Reno. We can be reached at 530-214-0385. Or send us an email.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations – For an Appointment, Call 530-214-0385

Truckee Office
10280 Donner Pass Road
Truckee, CA 96161

Phone: 530-214-0385
Fax: 530-214-8158
Truckee Law Office Map

Sacramento Office
1830 15th Street
Suite 100
Sacramento, CA 95811

Phone: 530-214-0385
Fax: 916-848-3500
Map & Directions

Reno Office
6380 Mae Anne Avenue
Unit 7
Reno, NV 89523

Phone: 530-214-0385
Fax: 775-201-1444
Map & Directions

South Lake Tahoe Office
3079 Harrison Avenue
Suite 29
South Lake Tahoe, CA 96150

Phone: 530-214-0385
Fax: 530-214-8158
Map & Directions

Roseville Office
3400 Douglas Blvd.
Suite 265
Roseville, CA 95661

Map & Directions

Tahoe City Office
305 West Lake Blvd.
Suite 4
Tahoe City, CA 96145

Map & Directions