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Dangers of Skyrocketing Divorce Rates Among the Elderly

Apparently, the more senior segments of our population are taking a hard look at marriage and engaging family lawyers.  Divorce rates among the 50-and-older crowd have doubled in recent years and the reason might be different than you expect.

In general, people are living longer, by some estimates as much as 30 years longer than in previous generations.  That’s a lot of time together if you’re not happy in your marriage.  The result is what some have called “late in life divorce” or “gray divorce” and it is an unexpected outcome of longevity.

With better access to health care and healthier lives people may be feeling that they are entitled to living more fully, that it’s “their time now”. After all, many have spent years raising children, sacrificing to save for retirement, and they feel they’ve earned the right to be happy in their twilight years.  For other, merely the prospect of living in an unhappy marriage for decades longer is simply intolerable.

Still, this type of divorce doesn’t come without dangers.  Older individuals are usually less financially secure and also suffer from age related problems and illnesses which make living on their own less safe.

Also, divorcing at the brink of retirement can devastate a couple’s finances.  Usually, financial planning for retirement has contemplated a single household.  And earning potential, especially for woman in the later years, is bleak.  Couple these concerns with a bumpy stock market, fluctuating home prices, possible reductions in Social Security, and you have a recipe for a rocky retirement.  Even with the upbeat reports on the job market, re-entering the work force for a retiree can be psychologically draining and economically unsatisfying.

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How to Ensure a Fair Division of Property at Divorce

Any lawyers will tell you that even though a divorce may be stressful, there are certain things that should not be left to chance. One of them is the division of property. If valuable assets are held by two people who divorce, it is only fair to divide them up. According to experienced divorce lawyers Robertson Hayles, unless you get advice from family lawyers it is possible that you’ll decide to forego your share just to have it all over and done with. You may live to regret that decision.

It is all very well to make a verbal agreement about the division of property, but before you call in the removalists, who’s to say that your ex will not renege on their end of the agreement. A verbal agreement is not something that will hold up in a court of law. Leaving it all up to a verbal agreement is only going to prolong the agony, if you don’t decide to just let your ex take everything simply for the peace of having no more hassles with them.

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Where There’s a Will There’s a Way

Most family or specifically Wills lawyers would agree that it’s important to have a Will no matter what age you are. However, since people don’t like to think about dying, they also don’t want to make a Will. This can be a big mistake, because if they have any assets at all, these will be frozen at the time of their death and no one will be able to access them for many months.

In addition, because the judicial system will become involved in deciding who should inherit their property or other assets, the end amount will be much less, since the cost of the court case will be taken out of the assets. And if the cash assets don’t cover the cost, any property will have to be sold to pay it. So if you want your family members to inherit your home, it may not be possible for this to happen without a Will.

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Tips to Setting up Financial Agreements Between Families

These days when it is difficult to get a loan to purchase a home, financial agreements between families can be really helpful. It is essential to consult with lawyers to ensure such agreements are legally binding and fair so that there can be no squabbling over it. Having a verbal agreement is not wise, as one party can change their mind or mistake the meaning of the agreement and it can cause a big split in the family that even family lawyers may find difficult to work through.

Money is usually the number one problem in most relationships, often because one person wants to spend it and the other person doesn’t. So when it comes to hundreds of thousands of dollars any disagreement is likely to have far-reaching effects. In fact, it is far better not to have such an agreement in the first place if it is likely to split the family.

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How a Court Divides Assets After a Divorce

When it comes to divorce, family lawyers are the ones to help and most lawyers will tell you that when two people split up there is usually a great deal of bad feeling. While this can be expected, it doesn’t make fair division of assets easy or even very likely.  If the two people cannot agree on the division of property or other assets, the court has to decide.

This is not the best way to deal with things, because it can take a long time to finalise and it will cost a great deal, but sometimes it is the only way. So what does a court take into account when deciding on how to split up the assets? It doesn’t simply divide them down the middle and give one half to each person. Other things are taken into account. These are usually: –

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How To Ensure Your Financial Agreements are Fair

Whether you own a business or are entering into some kind of financial agreement unrelated to business, lawyers will tell you to never sign on the dotted line unless you fully understand everything within it. In fact, consulting with family lawyers like robinson family lawyers about financial agreements is the best way to ensure the other person is not taking unfair advantage of you.

Financial agreements can be very simple or they can be much more complicated and you are unlikely to understand the implications of everything you read in it, even if you think it is clear.  In business there are many ways of saying things legally that spin the meaning around to give favour to the person who is offering the agreement.  Unless you have a lawyer go over it and explain it all to you, it could be that you are disadvantaged in some way.

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Legal Tips for When a Relationship Goes Bad

Often, young people – and not so young people – jump into a relationship too quickly, then find several things about their partner they just cannot stand. Family lawyers are available to help you when a relationship goes bad and it is essential to take their advice to heart so that you remain safe and get through that divorce with the least possible emotional turmoil.

Lawyers would be the first to tell you it is important to follow the law, so here are some tips to help you know what the law expects – and what it does not.

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