When spouses over age 50 get a divorce in Minnesota, they may face additional financial and emotional struggles. Since 1990, the divorce rate for this age group has doubled. Thus, more and more people are being forced to recover from a so-called "gray divorce."
Financial pitfalls for older adults in a divorce
Weddings causing debt often lead to divorce
A recent survey from a major insurance company found that about 45% of couples fall into debt to cover wedding costs. It also found that about half of the studied couples, who were aged 18 to 53, considered getting a divorce because of this debt. Research showed that money was a major source of stress in these relationships. Couples in Minnesota who pay for a wedding on credit cards or other borrowed money can expect the issue to be a possible source of conflict during the marriage.
How to avoid financial problems in divorce
Divorce can be an emotionally difficult experience. Though most people understand this, they may not be fully prepared for other questions that arise due to divorce. One of the biggest areas of concern is how it might affect finances.
Why everyone should consider a prenuptial agreement
While many couples who create prenuptial agreements have wealth, anyone can benefit from such an arrangement. In many cases, it can help Minnesota residents keep the cost of their divorce to a minimum, and this is important because the divorce itself can cost more than a wedding. Divorces tend to be expensive because people often act in an emotional as opposed to a logical manner. They may be willing to spend time and money squabbling over minor household possessions.
About supervised visits
Parents in Minnesota who have supervised visitation are only permitted to see their children while being supervised by another person. The visits can take place at a designated visitation facility, like a child care center, or can be arranged at the home of the parent.
