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June 2017 Archives

How to blend families after a divorce

When Kentucky residents who have children from a previous marriage decide to join households with a new partner, there are a number of things that must be considered. Money is a frequent source of conflicts in relationships, so a couple should talk about their attitudes toward money and how they plan to save and spend. They should talk about their long-term financial goals and what they want for their children as well. This may include discussion of how to pay for college educations. Ex-spouses and grandparents may also be a factor in these discussions.

The benefits of shared parenting

Kentucky parents who are separated or divorced might struggle when it comes to negotiating a parenting plan that all parties are comfortable with. Even in the most amicable divorces, custody might be a sensitive issue that can extend the process and make it more expensive. One plan that might address all these concerns is shared parenting.

Retirement accounts at risk in divorce for older adults

More Kentucky couples might be divorcing when they are 50 and older compared to previous generations. Since 1990, the divorce rate for people 50 and older has doubled. For people 65 and older, it has tripled. This can cause serious problems for people's retirements. Retirement accounts must be divided, and this can be costly. Furthermore, older adults do not have the time to replenish their retirement accounts that younger ones would have.

Dealing with finances during a divorce

For some Kentucky couples, getting a divorce can be a difficult process, especially when it comes to their financial situation. Both of the parties need to be able to financially survive once the marriage is officially ended. While untangling joint finances can be complex, there are certain tips that may help people get through the process until a post-divorce budget is in place.