Attorney-CPA Joe Cordell and co-host Susan Arthur talk about the trend of “gray divorce,” or divorces that occur from the age of 50 and older. Susan details some of the major statistics surrounding the issue, while Joe details some of the risks involved in getting a divorce at such an advanced age.
Joe highlights how the division of assets can impact retirement and pension plans, as well as how taxes impact the situation. He talks about the marital home and how age can play a factor in when a couple decides to get married.
Joe also lists the costs involved in creating two households, insurances, and all additional costs that add up when you begin the divorce process. He details the steps that people have to take in their estate plans and long-term care planning after they go through the divorce process. He also talks about the rules regarding social security and divorce.