Many people believe that a decline in marital happiness and satisfaction is almost inevitable. Conventional wisdom tells people that newlyweds start off their marriages with a honeymoon period that ends after some time, leading to greater conflict and sometimes, divorce. When people do decide to divorce, financial issues are often at the forefront. People struggle over asset division, spousal support and other economic issues. Therefore, many people think that couples with lower incomes may be more likely to be unhappy in their marriages.
According to a recently published study, there is a growing trend of divorce among those over fifty. The trend, known as “gray divorce,” involves people over 50 years old. In Wisconsin, and nationwide, those in this demographic face unique financial challenges when they end their marriages.
Many people in Wisconsin and elsewhere in the nation believe prenuptial agreements are for wealthy individuals or celebrities with significant assets to protect. While this is largely true, documents of this nature can be just as beneficial for individuals of average means who are looking to safeguard certain assets before tying the knot.
The process of untying the knot can suddenly become even more stressful for couples if one spouse loses his or her job. When this happens, a court often makes an attempt to develop a better understanding of the circumstances involved before making any rulings regarding divorce-related issues such as spousal or child support.
Married couples in Wisconsin who get a divorce are likely to find that the process can be draining emotionally. They should also be prepared for how it will affect them financially. When it comes to finances, the biggest impact may be on retirement savings. This may be an issue if one party did not work during the marriage, and the other party's retirement was meant for both spouses.
If you’ve been married for any length of time, you are well aware that finances are one of the biggest sources of conflict in any relationship. Each of us relates to money in a different way. And if that relationship to money is vastly different than our spouse’s, it can be highly problematic.
Divorce in Wisconsin often takes a heavy toll on families. It causes different kinds of stress, and there can be so many details to notice that some things go overlooked. Many soon-to-be exes forget to consider how the family insurance coverage will look after the divorce. Typically, the two most important types of insurance coverage in a divorce are life insurance and health insurance.
After Wisconsin couples negotiate a divorce settlement and the agreement is finalized in the decree, they may feel like they are ready to move forward. However, while reaching an agreement on property division and other key financial and practical issues can be a challenge, the actual separation of assets is not accomplished through finalizing the divorce. Instead, each party will need to take action on a series of administrative tasks to ensure that the agreement is actually implemented.