The implications that a divorce can have on a person are numerous. Among the things a divorce can impact is a person’s retirement, particularly if they are divorcing at an older age. A recent study suggests that women who get divorced later in life are more likely to put off retirement and stay in the workforce longer.
Savings-related regrets are among the most common regrets people have, a recent survey indicates.
Financial issues are hardly the most romantic things in the world. Thus, when a person is getting married, they might be tempted to put off thinking about issues related to finances.
A couple of months ago, we wrote a post about prenuptial agreements and business. A business is something that anyone would want to protect and properly classify when they are getting married, because should a divorce happen down the line, the business would be an obvious and critical asset during divorce proceedings.
One of the assets a person will sometimes have going into a marriage is a business they started or have helped build up.
One thing that can be a source of arguments among a married couple are money matters. Money conflicts can have major impacts in a marriage; they can sometimes even pave the way to divorce.
No Texas couple gets married with the intention of getting divorced, but it can be wise to put protections into place in case something unfortunate happens in the future. Many couples eschew prenuptial agreements because they think that it is planning for an eventual divorce, but in reality, it is just smart financial planning. Any two people should have a complete discussion of their financial situation before they get married.
When a person has an aging parent, one thing they might be very concerned about is their parent having the financial resources they require to meet their various needs. Some individuals, to address these concerns, provide financial support to their aging parents.