In a previous post we discussed some of the unique problems facing baby boomers getting a divorce, from financial considerations to retirement issues.
Since that post, USA Today ran a story that added some other interesting suggestions that we thought we would share.
First, try and remain as dispassionate as possible. The decisions you make will determine your financial viability for years to come, and those decisions should be based on reason rather than emotion.
Second, consider retaining a financial advisor that would independently audit your finances and give you accurate and unbiased information regarding the division of different assets or recommend divisions that would be in both parties’ best interests.
Third, be sure neither party has hidden debt that could cause potential problems in terms of repayment or credit history.
Fourth, consider all of the ways that divorce can impact your Social Security benefits and the extent to which your spouse can lay a claim to some of them.
If you have further questions about baby boomer divorce, contact us – we can help.