Dividing retirement assets in a gray divorce

The financial considerations of divorce are different for older couples. You have fewer years left to plan and save for retirement and, as a result, a lot more to lose. Understanding how to divide your retirement accounts, likely your largest asset, is crucial. It may also be as complicated as your relationship with your soon-to-be …

5 reasons to consider mediation in divorce

The prospect of divorce can seem daunting on many levels. When you’ve been together for many years (or even decades), your lives are intertwined not only from a legal perspective, but also socially, emotionally and financially. Fortunately, not every divorce case involves months or years of heated legal battles. Mediation offers a way to resolve …

Withdrawing your portion of a 401k

Your divorce is bound to bring with a certain deal of uncertainty. Years and years of married life have likely led you to expect a specific standard of living, yet achieving that after your marriage is officially over may be difficult (especially without your ex-spouse’s income supporting you). Alimony (spousal maintenance) may be an option, …

Dividing up a retirement plan during a gray divorce

Couples over the age of 50 may sometimes hesitate in getting a divorce because of Arizona’s community property laws. Generally, the court divides all property, assets and funds acquired during a marriage equally between both spouses. When dissolving the union seems like the most practical method to find happiness, understanding how retirement plans split up …