Going through divorce can certainly be challenging for adults, but it can be just as unsettling for any children involved. After all, just as you may feel that your world is spinning out of control during a divorce, your child may feel powerless and apprehensive about his or her future.
Couples in Minnesota in the 18-to-34 age group might be more likely to want a prenuptial agreement compared to couples in the same age group in the past. Attorneys report an overall rise in the number of prenups, but a more recent millennial surge appears to have several causes.
Ending a marriage usually involves making a number of financial adjustments. A recent study from the online marketplace Worthy suggests that many divorced women in Minnesota and around the country are not prepared to meet these challenges. Worthy polled 1,785 women who were either considering a divorce or had already taken steps to end their marriages, and almost half of them said that they had encountered one or more unexpected financial setbacks.
Many Minnesota couples may be aware that the divorce rate in the United States has been approximately 50 percent for some time. While there are many reasons why couples get divorced, one of the most common is the lack of communication when it comes to family finances.
After going through a significant life event, a Minnesota resident should review the details of their estate plan. A divorce qualifies as a significant life event, and there are many items that may need to be revised in its aftermath. For instance, an individual will want to change their power of attorney to ensure that a former spouse doesn't have the ability to access key documents.