Often, couples know that they want to get divorced, but they still do not go through with it because they're not sure how it is going to impact the children. Their reluctance isn't because they think that they can work out their issues -- they may not even want to -- but because they do not want to put their children in a tough position with their own decisions.
Many issues can cause conflict when a couple is headed for divorce. Child custody and support, alimony and the division of property are some of those issues. If you've lived in your home for some time, the decision about what will happen to the house and who will keep living in it can be hotly contested.
If you have long stayed home taking care of the kids while your spouse has been the primary breadwinner, then you may have not remained as up-to-date in your career field as you would have liked. You also likely haven't gained valuable work experience needed to help you make the type of salary that you need to support your family on your own. In situations like this, a judge may order your ex to pay you alimony.
The longer you are married, the more likely you will lose loved ones to old age, illnesses and perhaps injuries. However, you may receive an inheritance from one of these beloved individuals. Now that your marriage has come to an end, you may wonder whether it constitutes as part of the marital estate.
Divorce is going to change your future. There's no way around it. Some of those changes may be positive; if you're in an emotionally abusive relationship, for instance, you finally get relief from that. Some may be negative; if you have kids, you may not get to see them as much as you want. But, no matter what, there are going to be changes.
Grey divorces, or those among individuals 50 or older, have increased significantly during the past few decades. Right now, this population's divorce rate hovers around 25 percent. Back in the 1990s, only 10 percent of their marriages failed. In the future, at least twice as many seniors are expected to be divorced. This trend causes alarm among financial planners and family law attorneys who work closely with this population.