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Well divorce is a financial disaster obviously first the emotional -- that enough financial disaster.
Now there's a new reality divorce after the age of fifty is becoming more and more common.
And with that comes a host of new concerns here to help you avoid crucial mistakes is divorce attorney Vicky Ziegler -- -- great to have you here.
I really think that people under estimate.
What a financial -- they're making when they get divorced.
Oh boy it is an emotional cathartic roller -- people have no idea emotionally and financially what really happens.
To endure the process and we say people get married for love I mean it becomes eight.
Acrimony and people that are getting divorced now over fifty.
The statistic says over fifty it's happening ten times at the rate so people are saying what's going on it's this news out of -- -- divorce rate of Boris.
Had a very sad to and there are things you need to know if -- in this group of people and I and I hate to think that you are.
But there's some things you need to know first of all don't ignore the taxes -- -- retirement funds tell us about that yet at.
There's apples and oranges when it comes to different assets you really need to focus on.
What assets are not going to be taxed and what are so the house the both cars.
The bank accounts all those things obviously when you get that net money.
They're gonna not going to be tax your retirement account of course unless you hit 59 and a half for older he gonna be taxed people don't think about that when they look at the overall global deal it's a crucial and important especially.
People over fifty re exactly.
You say oh we're valley over valuing alimony.
Under valuing socialist Social Security tell me what you mean a big deal people forget about the fact that you can.
Tried to get Social Security benefit it's a huge component if you're married to the general rule of thumb is if you married for over ten years.
And your acts fast out -- Q and you don't remarried you have the ability to get up to 50% of his earnings.
Or her earnings once they retire people are always fighting about camel alimony.
How much time you know how much is it going to be for your monthly expenses not always the case focus on Social Security also -- he's not as big of a deal as it used to be -- Ice and what the unemployment rates and -- talk about it daily I mean police.
Right children's inheritance what are we need to know about that yet so act anyone over fifty you don't have to worry about custody battles to -- -- most of the time griner in college.
You need to really focus on inheritance making sure that they're taking care up.
Trust creating your well in making sure that -- and hunt passes to ban.
Instead of your ex spouse or even their spouses because we don't want divorce to continue and if it does your heart and many money should be secured her.
You said you've had three cases recently of clients at the age of eighty.
What is going -- -- out there I am telling -- I was shocked but you know what people are living longer.
They -- to be happy some people have found love some people just want to make sure that their children do receive but they've worked so hard for.
And I just think it's kind of uplifting and very -- at the same time.
Well one more question here because I think that when you walk into a marriage.
Do you plan ahead for divorce how many they'd sell it just breaks my heart you not coming from a.
Divorce attorney this is my specialty I try to teach people about Smart.
Pre marital planning that's really the key and if you think about that and it's -- work in progress always you can hopefully have that everlasting love affair.
With your spouse with that I think he probably half.
Most people don't statistics show that one into marriages fail first time they just go higher and -- you get married the second and third time so.
You know what be Smart.
Get a lot of information talk to experts and really make sure that when you work during the day the home and work on your relationship ha I like escape Vicki thanks for the help today great information really --
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