Baby Boomers in a Divorce Must Maximize Retirement Benefits

The divorce rate among Baby Boomers has jumped by more than 50% over the past two decades. This is true in the Delaware, Ohio, and Columbus, Ohio, areas as well. What are the issues that are unique among Baby Boomers when going through the divorce process? 

When Baby Boomers terminate their marriage, one critical issue is how are they going to support themselves after the marriage ends. How are they going to maintain two households? While these issues are common in any divorce case, they are complicated by the fact that many Baby Boomers are approaching retirement age and will be living off of their retirement income and social security benefits. In a divorce, Baby Boomers need to know how to properly value these retirement assets and understand that there may be some benefit to terminating the marriage once the assets are in pay status. This critical issue requires advance planning and strategy.  Consulting with your attorney months in advance of discussing ending your marriage with your spouse is beneficial.

Linda Lawrence

About Linda Lawrence