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May 2016 Archives

Divorce laws in different states can vary widely

Colorado residents likely know that divorce is regulated by state rather than federal law, and these laws vary widely in different parts of the country. While some of these irregularities, such as residency requirements, are relatively minor, the differences in the rules dealing with property division and spousal support can be significant. States approach these matters in one of two ways. Less than a dozen community property states, and the rest in general follow the principles of equitable distribution.

New approaches to handling divorce

Divorce has not always been legal in every state, but things have changed greatly as ending a marriage is more convenient now and much more common. Discussing one's divorce is no longer a taboo, and there are even unexpected businesses that make divorce easier that Colorado residents might not know about.

More older couples divorcing now

While the rates of divorce have stabilized for most age groups, older couples at or over the age of 50 are divorcing more than they previously did. Within that group, the subset of people over the age of 65 are showing even higher divorce rates.

Splitting retirement accounts in a divorce

When a couple decides to get a divorce, it could impact their finances for years to come. As more people over the age of 50 opt to dissolve their marriages, it also means that their retirement accounts could be divided as part of a settlement. However, because there are a variety of such vehicles available, it may be difficult to determine the procedure.

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Broomfield, CO 80020