The U.S. Census Bureau is the one-stop shop for finding data that helps identify trends across the country. A recent analysis of the data shows that cohabitation may not just be for the younger generations. In fact, the choice to live together but unmarried is increasing at a rapid pace amongst those in the baby boomer generation over the age of 50.
According to financial experts, fear of losing alimony and other benefits from a previous marriage are causing some older couples to take the possibility of a second marriage off of the table. In other cases it might not be the personal loss of benefits, but the possible probate implications for children from a previous marriage.
Property division negotiations and spousal support requests in Ohio involve much more than splitting a number value in half or asking for a percentage of income. A number of factors — including the possibility of a second marriage — go into determining which assets a spouse may want to keep, which ones he or she are okay leaving with the other spouse and for which ones the couple may decide to split the proceeds from a sale.
A great Columbus divorce attorney can work to ensure that the final divorce settlement works in the way that a spouse wants it too, from the liquidity of assets to those that will benefit the spouse in the future.
A divorce attorney can also help in the event that a divorced spouse enters into a new, committed relationship. Depending on the couple, this may mean a prenuptial agreement or a cohabitation agreement that gives an unwed partner more protection. Any decision has benefits and consequences, and an attorney can help determine what option is best for the couple.
Source: The Fiscal Times, “Today’s Older Couples: Money Focused and Unmarried,” Sharon Epperson, June 9, 2014